Mac claims surplus budget

| 15/06/2012

money-falling-from-sky.jpg(CNS): Despite being presented with financial requirements of close to $630 million from government, the premier claimed this morning that his administration has cut operational expenditure for 2012/13 enough to present a balanced budget and modest borrowing to the UK. Bush told the Legislative Assembly, which was boycotted by the opposition who said it was an unconstitutional sitting, that he was waiting on approval from the FCO in order to allow him to present the spending plans for next year in the new session of the House. Sources tell CNS that approval is unlikely to be forthcoming, however, without further changes.

Although the government believes it has presented a balanced budget, the calculations do not include capital expenditure and the figures fall far short of the targeted $60 million set out in the UDP's original three year plan. McKeeva Bush has claimed that the eleventh hour budget dovetails with the strategic policy statement he delivered last December and should satisfy the UK, despite a borrowing request.

Bush made no mention of the size of the deficit now anticipated for the close of the 2011/12 financial year and whether any further borrowing would be required to plug that hole.

In his statement Friday morning Bush claimed that responsible financial management remained a priority for his administration and it had worked hard to try and hone down spending requests, which had exceeded his $498 million target set for the civil service in January by some $130 milllion. 

Bush did not make it clear how much of the excess was ultimately cut before the budget was sent to the UK or whether revenue predictions were sufficiently high to sustain spending levels above his January target.

"Ministers have been deliberating assiduously to remove this excess in order to present a more sustainable budget to the Legislative Assembly," the premier stated. "We got it down to $81 million and then we had to work even harder to cut that $81 million down."

He did not reveal the final figure but said it had a "modest surplus" and “very modest long-term borrowing" for things such as the solar energy programme, the young offenders centre, the primary and Clifton Hunter schools.

Bush hit back at the opposition’s criticisms of his budget and pointed the finger at the PPM, saying that the delay to the presentation of the budget was because government needed UK approval first, as a result of the previous administration destroying the country's finances.

"If Mr McLaughlin had not saddled the country with two school buildings at $100 million each and an administration building of $108 million, roads in the millions not yet paid for but which my government has been struggling with, then the budget and the other three I presented would not be so severely burdened," he added, as he accused him of mismanagement of public finances.

The clock is ticking on the need for government to present a budget and pass the appropriations law before the end of this month. Without that legislation, as of midnight on 30 June, government will have no legal authority to spend any money at all.

See the premier's full statement in the Legislative Assembly below.

Category: Politics

Comments (75)

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  1. Anonymous says:

    Was he making a guest appearance on Saturday Night Live at the time of the announcement?

  2. Anonymous says:

    With due respect to CNS, I read the headline and LMAO without even bothering to read the latest iteration of the recycled preposterous fable. Who does anymore?

    The Chant of Premier Bush:
    Weeeeez Broke!
    Weez got a surplus and I made it happen!!!
    Weeeeez Broke and only the Chinese can save us!
    Weez got a surplus and I made it happen!!!
    Weeeeez Broke so I gave $5 million in tax dollars to my church!
    Weez got a surplus and I made it happen!!!
    Weeeeez Broke and it’s all the PPM’s fault!
    Oh screw it, someone call my travel agent.

  3. Dreadlock Holmes says:

    I did not buy a new iPad savings:  $700.00

    I did not buy a flat screen tv savings $400.00

    I did not buy a brand new Porsche savings: $95,000.00

    I did not go to the south of France on vacation savings $12,000.00

    I did not go on a round the world cruise savings $120,000.00

    I have saved, over the past two years, $228,100.00.

    My budget was $60,000.00.

    I now have a surplus of $168,100!!!  To spend however I want.

    You folks just don't know how to use math.

  4. Anonymous says:

    We can't go by anything Mac says; he'll add 2+2 and get 5! This is the most crap he's let out in a long time. (no pun intended)

  5. Anonymous says:

    There are a few decent persons around who would be good candidates. Some if them have been friends iof the Udp and ppm but they are dissilussioned and stepped away from the politics. This is a shame because they could help if it was not for these current buffoons which now no one wants to be associated with. For example I have seen dozens of persons who were around the Udp 2 years ago and today they will not be seen dead near them.

    At the same time if this new blood does not step up we are doomed.

  6. Anonymous says:

    With such a surplus, does that mean we can now get on with the job of paving private driveways in Grand Cayman now?

  7. MacBush says:

    Madam Speaker, in wrapping up my budget address I will close with…

    And they lived happily ever after…

  8. Anonymous says:

    Turn the page when you hear the chimes.

  9. Dred says:

    You know after all this time I AM STARTING to believe this is a conspiracy. I believe MB is conspiring to ruin the Cayman Islands. I believe he wants to do so piss poor a job that on or before PPM takes office next year the UK steps in and takes control.

    Then like the Turks & Caicos Islands he attempts to impose VAT against us.

    Then he raises up as the VOICE OF THE CAYMAN ISLANDS and BLAMES PPM for it.

    He then tells us we need to get rid of the EVIL UK and tells us we need INDEPENDENCE so we can make our own decisions and we can print money as we so choose to print our way out of debt.

    This is what I see coming. If this works out we will be like Venezuela and Cuba.

     

  10. Anonymous says:

    Another surplus. That was easy! What should we wish for next?

  11. Anonymous says:

    That you again Mac? We see you have pulled a figure out of thin air for your fudget. How about you show us audited accounts, hell, any accounts that prove ANY kind of surplus since you took over?

  12. Anonymous says:

    I know it's unfashionable to say anything positive about McPinata these days, but we should at least allow him to blow off a little steam from time to time about the 200 million-dollar schools that the PPI saddled the country with. That was an impressive, not to say heroic, overspending of public funds, when you think that the cost per square foot is about three times that of a 'normal' luxury home.  We are possibly talking of a world record here, and a "l'il steam-wenting"  is an appropriate response I think.

    • Anonymous says:

      Actually it was the UDP who brought the cost up to $200m from about $116m saying that they were cutting costs and doing away with the PPM's extravagances.

      • Anonymous says:

        20.26. A fair comment, I do admit.

        • Anonymous says:

          At least they tried to keep costs down by importing their own dynamite.

      • Anonymous says:

        Also, UDP Are trying to take credit for the schools now saying that it was them in 2004/2005 that broke ground for the two new high schools – UDP cant have it both ways, either take the credit AND the blame, or just SHUT THE HELL UP!!

    • Anonymous says:

      You mean the schools that the UDP broke ground on? The contracts agreed to by PPM were just over 100M in total, the UDP has spent almost 200M on them. Be fair now.

  13. Anonymous says:

    It is not to difficult to construct a budget showing a surplus but what really matters is if there is an actual surplus as opposed to a budgeted surplus.

    With all of the spending on travel and all sorts of other frivolous expenditures I do not foresee any actual surplus.

    I am tired of hearing McKeeva castigate the PPM.

    The PPM may have been too lenient in their spending but a lot of it was spent on capital infrastructure which was badly needed.

    All of those who hate the PPM and think that they destroyed the country  should not drive on any of the roads that were constructed during their tenure.

  14. Anonymous says:

    Macadamian nuts, anyone?  Guaranteed to make you completely nuts.

  15. Thunder Storm says:

    was this money given by  someone as a gift to the govt!!??   or does the people who's counting the figures have dyslexia????/

     

    How did we get from 81m deficit to a 18m deficit??…………dyslexia?

     

    Or did we really have a 18m deficit and the premier & his pups incvreased it to the 81m over the past 3 years?????

     

    this surplus he speaks of is the reflection of his spoon shimmering in his bowl of soup whilst he is sluuurpin ir up!!!

     

     

     

  16. Anonymous says:

    A budget is merely a plan.

     

    The Cayman Government has a miserable record when it comes executing plans successfully.

     

    Hopefully this will improve in the future as new blood (Caymanians, young, smart, educated, well trained, ethical…..they do exist) comes on line in the political and government arenas.

     

    By the way, the governance needs to be changed. Reduce the LA from 15 to 7 or 9 to be elected from the entire general population (forget the regional representation).

    • Joe Mammas says:

      If they really do exist why has no one seen or heard from them?  Obviously none of them work in any capacity for the Caymanian Government.  Pretty smart of them to keep out of where they are not wanted.

  17. Anonymous says:

    If there is a Budget Surplus, then I'm a Chinaman.

  18. Anonymous says:

    Please Sir!  can we get some more Kool aid. 

    • Dred says:

      Can you make mine a DOUBLE SHOT? Hold the ICE I want mine straight up.

      After this can you tell me who exactly shot Kennedy? Are there really ALIENS at Area 51? Is the Loch Ness Monster real? And what about Big Foot or was that Cline again put his foot down where it shouldn't?

  19. Anonymous says:

    You know what I want to see Alden and Ezzard do?  Take his new budget and compare it with the actual expenditure for 2011-2012 year.  Then we will all clearly see where they have played with the figures. 

    Show us the actual for 2011-2012 vs the proposed figures for 2012-2013!  Straight up, no tricks and no stalling.

    • Anonymous says:

      And why do you want Ezzi and Alden to do that? don't you think it's time you guys stop playing games!

      Do you really think its easy coming up with any kind of budget for the Cayman Islands? we should be happy we have a Governmnet that wont give in, or give up,… and throw their hands in the air, and tell us all to f@@k it!

      They are trying hard to find a budget for us, and all  you idiots do is tear them down!

      Do me a favor and go to "Dailymail.co.uk" and you will realise we are not doing so bad after all. We dont need no one to bail us out, we are still part of the EU which umbrella us under mother country.

    • Truth says:

      And with NO RECORDS, NO RECEIPTS, AND NO ACCOUNTABILITY?  They are not stalling.  They were never competent enough to do the job right in the first place.  Kinda like you all were never competent enough to see it.  Cayman is still getting the best it has and the best it will ever have.  And exactly what they deserve.  Only after this becomes clear can you move on.

    • Anonymous says:

      Have the books from 2005 been done yet?

  20. House of Cards says:

    Hold on everyone, let's come up for air. We have been dragged up to this point kicking and screaming over the last few years.

    Has anyone done anything about it? No, of course not. Experience tells us that those with the power/money get things done. (Dart anyone?)

    The fact that nothing is being done tells me that is exactly what the powers-that-be want, a disgruntled population teetering precariously on a tipping point of civil unrest. Mr. Bush has been manipulated to this point by sinister elements of control that are simply using him. If they didn't want him there, he would have gone in a heartbeat.

    Have they prepared for this? Of course they have. There are now loads of CCTV adorning the strategic points of the islands, the police force has been bulked up and electronic surveillance (unwarranted) is now commonplace, whether anyone will admit to this or not.

    So stop whining and throwing a few disgruntled comments onto a blog to soothe your nagging consciences. Think about this long and hard. Is this the country that you want? If not, I would suggest that you explore the options that you have available.

    Talk with one another about your concerns. Be careful because not everyone that says, "friend" can be trusted. When you hear or see things that are unjust, speak out. CNS has given us a superb forum here.

    In the words of the Master, "be canny as serpents and harmless as doves." Serpents are incredibly deceptive and doves are perfectly harmless. This is the war that we will need to fight, a clever, invisible war. Anyone watch the movie, "The Punisher"? Very, very clever deception in that. There are more on our side than with them and they know it. That's why they keep you asleep (neutralized) with distractions such as sport (footy anyone?), booze, sex, politics, drugs, fashion, TV, movies, music, etc ad nauseam. Wake up!

  21. anonymous says:

    Maybe we should lend Mac to Greece to help on their budget.

    • Lewis says:

      Do not knock the Greeks. They just put the Russians out of the cup,

    • Anonymous says:

      Very good idea, lend Mac to Greece, and maybe the EU won't boot them out, or have to bail them out in the tune of 36 Billion Euro.

      At least no one has to bail us out, Mac is doing a damn  good job…would'nt you say?.

  22. Anonymous says:

     Mac as Minister of Finance!

    What do you expect?

    His obvious way to create asurplus is to:

    Spend beyond our means to repay +  borrow more money than you need to service your obligations = declare the extra as surplus 

    This is a text book equation to achieve joblessness, bankcruptcy and crime in the Cayman society which we have seen.

    Its obvious we can no longer listen to or trust anything Mr. Bush says as his credibility is shot and on a respirator…fatally wounded and on life support.

    A more suitable title for Mr. Bush in his Ministry is Minister of Incredibility and Financial Mismanagement.

  23. Cayman Situation says:

    We can,t balance our budget yet we hiring more overseas police officers what up with that ? We need to cut the salaries of our political ministers and cut back on this police service neither one is serving any purpose, we simply cannot afford to keep expanding our political and law enforcement arm in government.It is simply out of control and ridiculous, just how much more of our budget is going to be consumed by this .Surplus they must be talkng about theamount of idiots in both institutions.

  24. Cayman Dynamics says:

    Governor and FCO can't do squat because along with our political wasters spending money is our 5000 lb hog the foreign police farce controlled by them with its humongous budget consuming every single dollar we have and all its management has to do when threatened with accountability, is switch on it's scaremongering PR machine and tactics to get our law enforcement wanna be's in goverment to pay up. How truly sad what is happening to Cayman. Extortion by Proxy if you ask me.

  25. The Real Deal says:

    Mckeeva and his Fuzzy mats group and this elaborate and useless police service who have spent ALL the money the country has on BS. i do not know which one is going to bankrupt  Cayman first, his continued spending or them continuing to hiring more and more foreign nationals regardless of cost. We can,t balance the budget  but yet we had a surplus? Somebody looks like they might be taking those bath salts i keep hearing about. Seriously folks we need to put a stop to both before our kids end up scratching out a living at our local dump. Our police budget is the budget of a small country and the question is are we any safer.

    • Anonymous says:

      You are a small country!!

       

    • Anonymous says:

      Your criminal population is that of a small country.  Thats the real problem.  Cut the police budget yea that would make you and Bush happy.  Make sure there is no enforcement at the voters pump while your at it.

  26. Anonymous says:

    As a political leader he is a disaster but he may have a future as a stand up comic.

    • Lewis says:

      Not a good comic. He has no repas de. He gets flusted and cannot think on his feet. He might make it in silent movies. Come to think of it he does look a lot likeBuster Keaton.

  27. Anonymous says:

    Just because Mac has no legal authority to spend money will not stop him at all. He has no legal authority to do a lot of things but it makes no difference whatsoever.

  28. Anonymous says:

    Mac may need to lend the rest of us his crystal ball, I don't know how he could be claiming surplus budget when up to yesterday we were getting emails to change the rates we budgeted for health insurance next year. How does he know what the end result is when the budget isn't even finished yet?

  29. Anonymous says:

    I have said before and I say again that the Governor and the FCO should dissolve this farce of government we have been victimised under immediately, suspend the constitution and  correct this blatant squandering of the Caymanian people's finances.  McKeeva could not manage a chicken coop honestlt, much the entire Caymanian annual budget.  He and his cohorts are afraid that the people, as well as the FCO, will see his squanderings.  Unless his FS is trying to pad things so the rest of Cayman believes that the budget is true. This man is not educated enough to understand that, unless a budget shows income (actual, not pretend) and true expenditure it cannot show any sort of surplus or deficit.  Ane he is the Minister in charge of Finance for us.  God and England, help us!!!

    • Anonymous says:

      I said before and I say it again, this Constitution needs amending immediately as the next team takes office.  The members of Cabinet should be elected separately from District representatives and their election as a block should be done by all voters of the Cayman Islands.  Afterall, they represent us all, so we should elect who we think are best to run the country; not leave it to them (District Representatives) to select the biggest Jackasses of the lot to run the country, because while they need us to get to power, they drop that beggar position for one of dominance once elected.  Those running as a team for Cabinet should state what their qualifications are for the particular Cabinet post they wish to hold so that the public can judge their ability from their past experience.

      Secondly, the people by referendum, should be able to fire Cabinet if they are not performing, or become entangled in suspected corruption and force new elections for Cabinet to be held.

      Thirdly, any politician, or any other person eligible for public office should be banned from holding public office if they have convictions for crruption or dishonesty period, or been sued civilly for any matter of financial impropriety and found at fault, or been a director of a company trading whilst insolvent, or were a director whose actions led to to the collapse of a company and caused its shareholders, creditors and investors to lose more than 40% of their investment.

      Fourthly, persons running for office should be qualified with a degree in common sense along with a second degree in any other field – Just kidding.  We the electorate should be able to decide if the members of Cabinet are qualified sufficiently for office.  But no more Jackasses are eligible – LOL!

      I am hoping that people like Wayne Panton, Andrew Reid, Carla Reid, Carlyle McLaughlin, Julene Banks and Leanard Ebanks to name a few, would consider running.  If ever there was a time we need people like them it is now.  We have but one shot to correct this mess, May 2014.

      • Let's get this straight says:

        I do not know the names that you mentioned, but how about any Caymanian that is a YCLA nominee?  Successful businessman readyh to give up a few years of profit for their country? Rotarians, Lions, etc… we have some wonderful people and should beg them to stop the madness of our political machine.

        PLEASE a few level headed intelligent people need to step up and get rid of this continious deadwood self serving politicians (UDP & PPM the dame to me, career greedy spin doctors)

        PLEASE! A Caymanian with an accounting degree is all I want to see!  A team of bookeepers and accountants are all that we need!  I'm sure they are level headed enough to make the hard decisions (ooooh, um, pour some concrete and build a pier for the cruise ships, yes make a longer runway for European flights, um lets direct the money to better educators and the elderly- done in 15 minutes folks!!!)

        I'm so tired of kickbacks and favors…this is NOT how to run a country.  It is time we demand better.

      • Anonymous says:

        May, 2013.

  30. UDP Truthalizer says:

    "Surplus" = "Deficit"

    "Responsible Financial Management" = "heady mix of fantasy, mismanagement, cronyism and BS all with a deep deep sense of impropriety"

  31. Anonymous says:

    Mac can claim whatever he wants, nobody's listening to him anymore.

  32. Anonymous says:

    And I am the tooth fairy!

  33. Anonymous also says:

    Mac,  No wonder you need a driver.  You are so busy looking out the rear view mirror (i.e.blaming the ppm years later) that you are running over everything in front. of you.

    I know our hands are clean, you have told us.  But get down here in the dirt with the rest of us and get them dirty.  Your policy's do only one thing:  Assure you hand stay clean so you can count your money. 

    You should align yourself with Cayman not Money.

  34. NeoSurvivor says:

    Okay.  Got it.   Let's see if this works for me:

    I can balance my personal budget if: 

    1) some kind-hearted individual or corporation will lend me CI $30,000.   That will allow me to:

    2)  Pay all my bills, plus have a surplus against future anticipated downturns in earning ability, so I can maintain my current lifestyle, regardless of income, and…

    3) Take a dozen or so first-class shopping trips. (gotta love those clearance warehouses)

    4)  weeeeeeeeeeeeeeeeee!

  35. my my says:

    Wonderful photograph CNS! LOL

  36. Sigmund Freud says:

    There's a lot more going on in the premier's head than you at present give him credit and he realise himself for is my initial diagnosis. Please that I have him here in Vienna for minimum ten years for much deep study and recommended coarse of action. Thank you.

  37. Anonymous says:

    groundhog day…..zzzzzzzzzzzzzzz

  38. Anonymous says:

    Mac, you have no surplus and you are seeking to increase the debt burden by borrowing for such frivolous things as your Solar plan pet project.  I don't care if your spin on things say that financial prudence is your government's priority or not, that is not being prudent.  Ignoring civil servants to lose $250,000 on Cohen deal is not financial prudence; severing a contract against the advice of the Port Board to show who is the almighty and having to pay out $2.5 million is not being financially prudent.  At least, the PPM acquired tangible infrastructure for what they spent.  Your actions has vaporised money that could otherwise have been spent on acquiring something tangible.  We are sick of hearing you blame the PPM.  You said you could have done better.  You were given that opportunity and for three years you have achieved nothing except galovant around the world.  Now you want the UK to approve more borrowing by you for a solar scheme pet project and to use to say you have a surplus (perhaps by not spending all of it)?  Do you ever stop and listen to yourself?  You are like a child saying, "Daddy lend me $5 to buy a patty and a drink and pay for the one I credited yesterday.  If you lend me $5, I'll have a surplus tomorrow, but today, I am as broke as a church mouse."  You are incredible and I am disgusted and embarrassed.  Come next May, you and your UDP team will receive your just reward at the polls!

  39. Oops there goes gravity says:

    Honestly, nobody cares about his foo foo budget.

  40. Anonymous says:

    Can't wait for the Auditor Generals interpretation of the Caymankind report.

  41. Anonymous says:

    No Mac Chavez, it's not because Alden wrecked the finances why the Budget is late, it's because you took off travelling and left ol KJ to do it for you — unfortunately poor ol KJ doesn't know how to run a budget process and now you are out of time with your back against the wall.

    when are you going to stop telling tales and learn to tell the truth?

  42. Anonymous says:

    Surplus budget that includes a borrowing request?  How does that work?

  43. Anonymous says:

    Ok guys, here's a little lesson in how to catch a liar. The Premier says that his target was 498 million, the Civil Service requested 630 million (which is about 132 million over) he then claims to have cut 130 million from that request, that means, his expenses are now back down to 500 million.

    So when the budget is presented next week, if the amount shown for expenses exceeds 500 million, then we will prove once again, that the Premier — to be charitable, was being a little careless with the truth.

    Mr. Premier, this is the first hole in your little story, watch this space, I'm going to point out each one as you continue to get tangled in this web you're trying to weave.

  44. Anonymous says:

    He is delusional.

  45. Anonymous says:

    I just saw that embarrassment of a man on the CITN news talking about the boycott of the house by the Opposition & Independent member from North Side. No man, he really gotta go and FAST! Is that who Cayman has as their 1st Premier – NO SAH!

  46. Anonymous says:

    Wtf!? Not again…

    Not too still

  47. Stiffed-Necked Fool says:

    Yea sure, and I am the little green giant!

  48. The Spin Cycle says:

    There!!! You have it!! You doomsaying satanists!!!  Everything is hunky dory. There will be a modest amount of borrowing… more than 100 dollars but less than 100 million. And for your information the budget is just fine after civil servants re-jigged the figures.

  49. Anonymous says:

    Uh Oh.

  50. Anonymous says:

    Ha, claims, hahaha , the more I think of this embarrassement of a man the more I laugh. And cringe

  51. Anonymous says:

    After 3 1/2 years of overspending by McKeeva Bush and the UDP, he is still blaming PPM for Schools and Roads.  This budget cannot fool the FCO, they will see the trick of this budget.  This budget is not inclusive of the Capital Expenditure, so its a false budget, plain and simple.

  52. Anonymous says:

    Modest Surplus. As soon as I stop laughing I will post something.