Mac stripped of finance job
(CNS): The conditions imposed on the Cayman government’s 2012/13 budget by the UK have essentially removed most of the functions of the finance minister from the premier, the opposition leader has said. Speaking in the wake of news that the FCO had given conditional approval to the current administration’s final budget, Alden McLaughlin said that the four stringent conditions, in particular the establishment of a ‘budget board’ headed by the deputy governor, would mean that the role of the finance minister established by the Cayman Islands 2009 constitution has been handed back to the official rather than the elected arm of government.
Among the four conditions laid out by the Overseas Territories Minister Henry Bellingham was the creation of a board or committee that will manage and oversee future budgets, with the deputy governor, not the finance minister, at the helm.
Bellingham also required that the Framework for Fiscal Responsibility (FFR) agreement signed between himself and Premier McKeeva Bush last November be passed into law before the end of September; that the FCO’s economic advisor who established the framework for this budget (and who Bush complained about, claiming that he moved the goal posts throughout the process) be allowed to review the state of public finances every quarter; and that there be no supplementary budget.
The conditions will remain in place for the next three years when the Cayman government, according to the latest financial three year plan, should be back in line with the five principles of sound fiscal management as set out by the Public Management and Finance Law.
These changes have pushed the office of the Ministry of Finance to one side, McLaughlin said.
“It was inevitable, given what has transpired over the last four budget cycles,” the PPM leader added. “The UK gave the premier every opportunity to make a start on improving the fiscal situation but with every passing year things simply got worse.”
He said the government’s persistent failure to take any steps to address the fundamental issues and the decision to “keep presenting pretend budgets” have resulted in the present circumstances.
“It is going to be very difficult for any future minister as the UK have clawed back more power over the budget than they had with the old constitution. There was plenty of warning, but the warnings were ignored,” McLaughlin added. “The sad thing is that Cayman’s fiscal challenges were not insurmountable; they still aren’t but the problem is they can’t simply be ignored as they were by this government.”
The opposition leader said the impact of this move by the UK would see expenditure being reigned in over the last nine months of this administration. Not entirely convinced that the revenue raising measures in the budget are necessarily credible, McLaughlin said it was going to be a challenge for public servants to deliver government policy and without the possibility of a supplementary budget if the earnings don’t go according to plan.
The opposition leader said he believed that the enactment of the FFR agreement into law would make it “virtually impossible” for the premier to get some of the projects he has heralded as Cayman’s future economic saviours off the ground. The proposed cruise berthing facility in George Town in its current format would not be able to go forward, he said, adding that he believed it may force changes to the ForCayman Investment Alliance as well.
following recipt of the conditional nod, Bush congratulated himself for beginning the budget process without agreement.
Speaking at a limited press conference from which CNS was barred Friday, the premier said he was justified in having started without the agreement as he complained about the independent and opposition members’ criticisms of the decision. In the face of the stringent conditions, Bush blamed the opposition but admitted that the loss of economic sovereignty would put the country back on a sound economic footing.
Category: Politics
someone better check mckeevas pension…!!!
Thanks for spilling the beans poster 06:08.
ANY young person interested in pursuing a degree in construction management is eligible to apply to the Education Council for a scholarship. And if they have the requisite grades and are seeking to attend a reputable institution, they would be favourably considered for appropriate assistance.
Clearly the only reason why you have sought assistance from the Nation Building Fund instead of the Edication Council is one or more of the following:
1. The institution that your child wishes to attend is not one recognised by the Education Council as suitable or reasonably priced;
2. You are not content with the level of assistance normally afforded by the Education Council; you want more;
3. As a "grass root UDP supporter", you are confident that your child will be awarded a generous package of assistance regardless of the institution and how well he or she performs in the course.
Those of us who despise this so-called NBF have known all along that the only reason it is being used for scholarships is to reward people like yourself for your loyalty and support of the UDP. You have come to believe that because you are a "supporter', you and yours have to get what you want. What we have had enough of is taking money from all of us to look after you.
Good morning 12:41
How you doing?
Spilling the beans you call it. Sounds like my comment really twisted your already warped mind.
Clearly the reason my son sought this scholarship, he wants to further his education and live a decent life, and be able to support his future family….do you have a problem with that?
1 He was accepted by two renowned Universities in the UK and Scotland.
2 We did not seek funds from the education council…. which answers your question. We only require assiatance for his further learning.
3 My child is a Caymanian just like any other students, who received scholorship through other past Governments. I have all confidence that my son will perform to the standard he wants to achive, and return to kick your ass.
You all can despies this NFB as much as you want, but we will educate our children. That's your problem if you see this as a political gain on Makeva's side.
We will return him to office next year… mainly because he has what many people like you lack, foresight, vision and love for the common man.
Your story does not add up. If your child has been accepted by two renowned UK universities (Scotland is a part of the UK) why did you not seek a scholarship from the Education Council in the normal way? The application would be virtually guaranteed success. Why rely on this backdoor when you must be aware that it is used by people who have not been accepted by recognised universities and do not have the academic credentials to qualify for the grant of a proper scholarship?
I'm amazed but not – that there is nothing about this on Cayman 27 or the Compass websites. It just goes to show that only CNS has the courage to report what is really happening. Its also amazing that the UDP are patting themselves on teh back for getting the UK to approve the budget. No wonder the King of Cayman barred Wendy from the LA – he knew she wouldn't be afraid of him. Well done Wendy and Nicky. Thanks for being the only ones in Cayman with the courage to report the truth.
I can't believe that it took the United Kingdom 3 years and 3 months to determine that he was not up to the job. I knew from the day of the elections, if they had asked me then, millions and millions of $$$ could have been saved and we wouldn't be in this mess now. If they can take this action now so late in the day can someone please give me a credible explanation why they didn't act sooner? Why close the barn door after the horse has left?
Not so… according to Mac on Radio Cayman this morning. CNS, how dare you?
Every time I read a story with Alden and fiscal responsibility in the same sentence I have to grind my teeth. Politicians are unbelievable he is also so positive that he is going to get in next May that he is pissed off that the UK will have so much control and he won’t be able to go on another spending spree. I really hope that people are not fooled by him either because he is definitely not the right alternative!
I honestly hope we get some new blood next year because this country simply cannot manage another four years of UDP (please God NOOOOOO) and most definitely not PPM either!!! Ughhhhh
Sorry but I just have to ask: where have you deduced this secret plan of Alden's from? All patriots mourn the loss of sovereignty no matter which country it is. We gain it under competent administrations and lose it under Mac-led administrations. The UK is constantly watching our politics to see if our electorate is maturing and voting for the right reasons…otherwise they have no basis to trust that when some good guys get into office, they will remain there to continue working with the UK constructively to develop this country. Their faith in YOU, the electorate, was misplaced when you voted the UDP back into office, and now they are clipping wings again to limit the damage. If the PPM get back in you will (once again) be able to thank them for repairing our relationship with the UK with a display of competent government.
In this case it is for our own good that budget preparation has been placed in the hands of the civil service, because Caymanians still can't get into their heads that 'competence to do the job' is the minimum qualification for an MLA/Minister and AFTER THAT they can pick who they like and, possibly, who may benefit their endeavours in life. A lesson which I still don't think this stupid elecorate has learned. Alden is just drawing attention to Mac's spectacular failure in being stripped of a responsibility he should never have had, which he gave himself purely out of hubris & compulsive need for control. People are wondering what happened to him that now he destroys everything he touches. Mac hasn't changed…what has changed is the calibre of people around him has plummeted. Roy Bodden & Linford Pierson would not have put up with this and must be easing very heavily into their easy chairs every evening. And before anyone clicks troll, this is not Alden…it's really not…it's just the truth.
Good riddance he’s finally gone to roost. We can all sleep better.
He has been stripped, but still tooting his own horn….lol
Sooooo now! What will happen to the Nation Building Funds? Will those poor students ever get their school cheques. So Many children has contracted out to the YNBP and cannot collect their cheques to pay their tuition, rent and other fees. What is going to happen to them now? However, I am hearing that certain children of the closely connected UDP Members already were given their funding to send their high school aged children to boarding schools and these children have both parents making big time salaries and are driving around in very expensive cars. Whereas, prospective students with very poor parents or only have one parent working is still on the waiting list for this funding. They may even get kicked out of their colleges or get rejected by their potential colleges, because no funding is fortcoming and no one is coming out to explain anything to the children. Got them waiting like hungry puppy dogs and you call this…. what? is this not discriminating against non UDP connected children. Man I tell you, this Nation Building funding is so wrong and unfair. If the Premier says the funding for these children has not been affected, then pay the children and stop stressing them out.
Why didn't they apply to the Scholarship Fund? I don't understand that. Can they not meet the requirements?
If you believe there is some truth to this you shoul do an FOI. Boarding school scholarships sounds far fetched but it is our money we have a right to know.
to 22;42
Your gripe is still with the poor Caymanian children, getting a better education…. no matter how you spin it.
I'm a grass root UDP supporter , and yes my son is one that is waiting on the funds, to attend University, to study Construction management. He is planning on taking over his poor father's construction business, and run it professionally.
We all understand the funds will be paid after the first of September. We will get our poor Caymanian children off to university.
Sorry that this will disappoint many of you F@@@@ hypocrites. We will get OUR children EDUCATED!
You can get a degree in "Construction Management"?
Yes you can and many people are here doing a very poor job of it, but making a mint anyway
Yes loopy lou.
My God, your world is so full of idiots!
You end you comments with the statement "We will get our children educated"
What you mean is US the people who are paying and paying for Mackeeva's slush fund will be paying!!
"His poor fathre's construction company"
Why didn't you save a little from all the money nearly all the so called construction companies made from ripping prople off after Ivan! Instead of buying your fancy cars etc.
08:47
Let me tell you, I was not one of the fly-by -night contractors that people like you hired.
Some of you wouldnt hire Caymanian, that were well established contractors, for the same reason you are against the NBF.
I have no sympathy for you, or your kind. I have 30 years of building on these islands with a superb track record, and many like myself….but we never get hired for the money making jobs….simple, its your plans to keep us poor.
The poor Cayman contractors couldnt save what we made, we have to struggle to make ends meet. This is not so with the fly-by-nighters…the ones that people like you keep hiring. to buy their fancy cars.
Just to let you know, we will continue to get our children educated. We also pay our share of government tax towards this Makeeva slush fund…as you hypocrites call it.
Actually I DID employ a long established Caymanian contractor, who is still in business. I also had an American contractor do some work for me in the States. The difference was like night and day!
America contractor…reasonable price
America contractor…turned up on time
America contractor…gave warranty
American contractor…did the work properly and cleared up after him
America contractor….used skilled men / women.
Cayman contractor NONE of the above
And by the way just in case you are wondering and before you start your rant I AM CAYMANIAN.
The trouble with "grass root" UDP supporters is that you only get the leftovers. I know one "tree top" UDP supporter (rich enough to pay for her daughter's education) who got the $70,000 for her daughter from the two-month budget.
I am so glad I had the foresight make something of myself so that I wouldnt have to resort to waiting around for this so-called Fund to finance my child's education. I sacrificed so much to better myself and many times I questioned why, but I can finally see the results. I can pay my own child's tuition or walk into a bank with good credit and collateral to get a loan. I'd rather owe the bank tuition money than owe a politician my soul/vote.
Some might fight back and say they didnt have any other choice than this NBF but sorry I'd rather have a payment plan for the rest of my life than owe one of these not so cleverly hidden political agenda vehicles. So, while unnu scratching unnu heads waiting on cheque my child is suited and booted for1st day of school and I have the Lord and MY hard work to thank for it. Stop waiting for Government hand/buy outs and secure your children's futures YOURSELVES.
After seeing all the water passed under the bridge, it seems like the wind has blown out of the sail of the Opposition. No one is talking much anymore. Can it be that they have realized too late what damage they have done. Sorry it is too late my friends. You ploughed the Premier for the past year. I do not know what you were expecting, but come next year, I do hope the Premier hands you the keys to LA and say "You wanted it now take it" Yes I am sure many of you are shaking in your shoes, scared stiff, because we all know that there is not one of you who can do the job McKeeva Bush was doing. Best of Luck, you all will need it.
Correct me if I am wrong but isn't this the SECOND time Mac has been stripped of a minasterial position (although the first time it was actually termed as being a member of Exco).
Remember the 1st. Cayman Bank debacle…..and you still did not learn. I say you for as sure as H*** I did not vote for him!
We can only hope our next Premier will not "do the job McKeeva Bush was doing". Where do they find all of these idiots that blindly support XXXXX?
My issue with the UK is what the @#@ too you so #@# long!!!!????
Can we please strip him and all the UDP of the "Honorable" title? I beginning to question my belief of the meaning.
It has no meaning. Never has had, never will. It’s just something introduced by the politicians to boost their own self-importance (if that’s possible).
I suggest we keep calling them Mr or Ms, at least until they pass another law making that a criminal offence.
It also boosts the going rate for “consultancy fees”.
Good Heavens, N Somniac, despite their wonderful titles, who is going to consult McKeeva or Mary Lawrence on anything? I mean, really!
This is as a typical example of why the MLA'S should all be working together for the greater good of the country.- Even though this will now affect the "current UDP administration" as well as all other administrations to come-as they too will have to deal with the same "Rocky Road" conditions ahead -as the PPM & Independents collectively never tried to prevent this as they were all too busy "spewing venom" and as such- it has blew back in their faces as they too will face similar challenges on the way forward if they are elected again. “It’s NOT about "Mac" or the Premiere- it’s about the Cayman Islands- deal with the issues- and leave the personalities out of it. But then again if that is done it couldn’t be called "Politics".
It is about time! Really, should anyone who could not qualify for an entry level job as a bank teller be allowed to run the finances of a country?
Hey – where's my post? I was looking forward to hitting the "troll" button on myself!
Customs must be burning something illegal at the dump!!!!!!! I would swear I read a post that said that Mac Poppins is going to watch Charles Whittaker fight in Pennsylvania!!!! Well that great as long as he is paying his own way, and he can take 9 months off if that is the case!!! If I'm paying for any part of it though I hope it's the toilet paper at the Sands Casino & Resort and it's woven out of nice velvety Mucuna Pruriens!! Nothing better for the Presidential Suite!! BTW velvety Mucuna Pruriens is an exotic plant species commonly known as "coweech"!!
Pay his own way? Come on. Ask yourself "what would Bush do?" Seriously!
That is right ! I posted that comment about Big Mac going to see Charles Whittaker in Pennsylvania. XXXX And I can betcha it wont be paid for out of his own pocket, I can also betcha he'll be taking a whole posse of folks also not paying outta their pockets….and it will be said by his press people that Big Mac and his posse are all representing Cayman and hafta go to be by Charles's side to support him. And fly first class, and stay in posh hotels, and eat lobster and filet mignon dinners and drink expensive champagne, all to support Charles Whittaker at this fight. Maybe Big Mac and the posse should take a run up to Connecticut and see how the big Indian reservation casino is run out of Foxwoods? That would be fun too, dontcha think????
CNS: Whittaker gears up for biggest fight of his career
A message from Her Majesty the Queen:
'As the good people of the Cayman Islands have had their unruly Bush clipped from all sides, they should now be known as the Brazillian Islands and their leader known from this day as the Brazil Nut without portfolio'.
God save the Queen.
The arrogance of the British!
18;45
So true! so true! and we have them here amongst us, spewing their venom at Makeeva, on this site.
Look at the thumb down, and that will prove they are the majority of the arrogance statements, made on here.
Well, it can be viewed as one set of arrogant islanders yelling at another set.
……….and the stupidity of those who can only see the Bush for the tree of hope, or the dollar signs before socio-economic responsibility, or cheap labour before human rights, or greed before compassion, or development before the environment, or the gravy train before fiscal prudence or BlackBerry before customer service, or texting before road safety, or entitlement before contribution, or discrimination before equality. Need Igo on or do you get it now?
It's arrogant to assume its everyone elses fault, when clearly it isn't.
What no more cookie jar?
Maybe someone who can write and has a command of the English language can start signing the currency notes in the future to save the country further embarrassment.
You are the Weakest Link! Goodbye
Praise the lord.
Oh ohhhh…….A L Thompson's can cancel the 2013 order for fridges, stoves, washers and dryers etc !!! Freebies done !!! UDP in deep trouble now with no achievements and no gifts to give out. !!!
The Chuckster gave Mac the plan to cut expenditure and prevent this from happening but nooooo KeKe wouldnt listen. He had to have his Nation Building Fund for 4.5M; his Turtle Farm Wildlife Encounter for $10M, free flights and parties for God only knows how much etc, etc, etc !
Well Mac he who controls the purse strings controls the choir so guess who is in total control now ???
Its a shame McKeeva……..as our first Premier and Minister of Finance you have failed us miserably and as a people we are ashamed of you. You're fired !!!!
Whats he going to use to buy votes now??? Breadfruit??
Hey, don’t degrade breadfruit like that!!
The Ironry of it all is, that those who caused this to happen will now be wishing they did not. Do you really think the Premier did not know what he was doing? He played right into your hands and you all took it hook line and sinker. Its a tough world, but ye got to do what ye got te do.
You truely do meet all the criteria of being a troll….
Large (Fat) ugly beast of low intelligence who lives in a hole (under a bridge)
Anonymous 14:40,
Seriously?! You really just wrote that?! W M BUSH caused this to happen. No one else! We the community aren't there with him on an international level representing us, we aren't in the finance meetings representing us…him & his flekkin pin tail donkeys are!!
& The fact that he KNEW what he was doing would lead us to this point makes the matter WORST!!! He treats Cayman like he is the expatriate, so he can just muck it up and run on home when the mess is done! I won't even be suprised if his ass wont be anywhere near Cayman if he doesn't get back in office next year! His plans probably already been in the making…maybe on one of his excursions he chose his ideal retirement location.
Anyways…hurry up & get this man & his crew out of my hearing!
I think that what everr government wins next election, will see some very dark days ahead.
But as the saying goes what goes around comes around. The last place I would want a position in 2013 is the LA department, much less having a Premier job. I am sorry for the person who has to take that on.
Let us not lose sight of the fact that this is not about "McKeeva" – instead, this is about Cayman.
Eyes forward folks – party politics could not be more irrelevantat the moment.
You have to remember the past, so past mistakes are not repeated
Do I just ” thumbs down” or “troll”? It used to be easy, just give him the “thumbs down” and move on. But now there are choices.
I have never seen so many troll comments in my life! Somebody has to be the real troll around here.
Thank you thank you UK…long time coming …now keep an eye on the man for he has no respect for the rules of fiscal or any other disciplines
While you're at it, how about stripping him of a few more powers, such as Premier.
And self imposed 'titles' such as 'eternally honorable'.
How am I suppose to build a pool, get a new stove, fridge and washer and dryer if I dont have access to theNational Building Fund. I guess I can use my inflated Civil Service Salary
UK needs to look in the mirror often!!!
Judging by their rhetoric, I suspect they no longer have mirrors in the mother country.
Either that or they have run short of Windex.
As the old people would say, "Ke-Ke just got spancelled". There is good and bad to this…
Clearly, the UK felt that the only option was to remove some of the control from the one who hates "to have a boot on [his] neck" as a way to save this country from itself. But we could also surmise that the UK is on course to complete its mission to have better control over this errant child that is the Cayman Islands. We've gotten a little too big for our britches. Or at least that is the perception when youjudge us by those that lead us.
Cayman earned its place in this world. We have clawed and fought to be recognised as more than just a pretty face. We have invested in a future whereby we sit at the table with the big boys and are a force to be reckoned with. That is all for naught it seems, as we have been put in our place by Big Mama.
How did we permit this to happen?
Obviously the good is that we no longer have to toss and turn in our sleep, worrying about the possibility of our country going backrupt at the hands of a travelling band of merrymen. But the downside is that we no longer get to have the level of autonomy that is rightfully ours. It's like you had your licence to drive for years and all of a sudden your mother insists on being your passenger everywhere you go after you crashed the family car.
Trust is hard won sometimes, but to lose it can take a devastating toll. How do we get back to what we had? Can we?
I, for one, am elated and saddened by this news. Relieved and nervous. I don't like the idea of this idea…! But it is the better of two evils, don't you think?
I am all for taking as much fiscal responsibility as possible away from our incompetent and avaricious politicians. BUT I rather doubt there is any real benefit to be achieved by handing the reins to the Civil Service.
As convenient as it may be to pin all of the blame on the elected donkeys, is no one willing to acknowledge that the various administrative departments have played an equal or greater role in the past several years' failure to produce proper government accounts capable of being audited?
I trust this new Board will have some capable and non-politically aligned professionals from the private sector.
I will not even venture to ask why we continue to employ a Financial Secretary on full pay in the present circumstances………..
And I trust that the new board are given a set of new dentures…….without the power to ensure that all Government departments submit their accounts on time they will fail.
Accountability by the heads of all Government entities is imperative, if they don’t deliver the goods, they should be sacked on the spot for incompetence.
A big shake up is needed and without this ability to enforce their contractural obligations, we will be no better off, let’s start from the top and make responsibility to the electorate a priority, then build on that.
I hope a few heads of departments begin to sweat, I’m sick and tired of paying for a service that they don’t deliver.
"Mac stripped of finance job"? Couldn't have happened to a more deserving chap! Thank you, thank you and thank you again Mr. Bellingham!
We need new leadership!
The only Civil Servant capable of running this country is the Deputy Governor Franz Manderson. He is proven to be trustworthy, honest and hardworking.
Let us all make a public call to him to step up and help direct our beloved islands. He is Zaphenath-Paneah, our "messiah".
Alden's only upset because this interferes with his ambitions for the Premier's job at next year's election.
However, this concept of a 'budget board' makes me nervous.
Hopefully, all those involved (particularly the person running it) are going to be required to provide detailed, and legally binding, statements of interest to avoid any conflicts of the same.
One problem with setting something like this up in the Cayman Islands is that it's such a small community just about everyone has a vested interest in someone else's business and many are more than happy to use it to their advantage.
So would this mean Mac's salary should be reduced? After all his job as Finance Minister has now been made redundant, seems to me a pay cut should now be in order.
Who on earth would give this comment a troll rating! Could it have been our Honourable Premier?
Cut all MLA salary 30% across board and the Speaker of the house also while you a it !
thanks
I hope the $40000 a year paid to the Speaker's daughter in Tampa, supposedly to represent the interests of Caymanians in Tampa (I know, you could not make this up!) has also been struck from the Budget, Mon 22:27.
Wow!
I cant believe so many of you are jealous of the salary this boy from old bush is making! more power to you Mac, you deserve every cent of it !
A dunno. Am no financial expurt.
Maybe we can be in the black rather in the red since the shift of power lol!
Keke & kirt your double dipping check shrank also, things are not looking good for you’ll, we need to cut the housing allowance $ & just give a straight check, no local police or region police get that officer. We are in no position to be giving away free $$!
Bracer!!
I truly believe that if mr manderson is in change in this area of government he will be a great job. He is an intelligent man with his country at heart.
Those free flights has come to halt! the fco must be reading CNS, that is a good move FCO! No mood Free bees w-bay, fridges, stoves, sand etc lmao!
Caymanian
Mac says that having someone else oversee the budget will give him more time to concentrate on the things that he does best… travel, travel, travel.
Come fly with me!!
Too little , too late. No telling how long it will take to dig us out of the hole we are in.
This sounds more like "Cayman no longer in control of its finances" as opposed to "Mac" no longer being finance minister.
Some people are so short sighted.
Now the UK will control Cayman finances – and the only thing the local crabs see is time to celebrate cause Mac gets same pay for less work.,
Thank God he does not get to do any more "work" destroying these islands, i would happily pay macidiot to stay home for the next nine months, do nothing and keep his mouth shut
What this means is less wasted money on the many things it is wasted on now. The many Caymanians who now have it made in the shade due to Bush's hand outs will soon find themselves cut off. I would bet they all come out crying and swinging in total anti UK ranting. No one said it would be easy on the poor people who will now have to work like the rest of us for their living. Its hard but the only "REAL" honorable way to live. Perhaps it is time that they show us all how hard working they are and what a great benifit to this society they can be.
I am not a troll and I comment all the time.
The UK has done as Mr. Clifford in his recent letter predicted they would do. The only difference is that they have used a different method to strip Mckeeva of his responsibilities for finance. Its called a "Budget Board" headed by the Deputy Governor as an alternative to suspending the part of our constitution that gives a Minister responsibility for finance.
I wonder if Mac understands what is going on here ????
The next nine months leading up to the elections will be interesting as McKeeva tries to defy his new finance boss AKA "The Budget Board" in order to engage in his pre-election spending spree !!!!
Change must come in 2013 !!!!!!!
Actually, McKeeva should be happy. He now has more people to blame and insult.
How ironic it is that Alden Mclaughlin is the one to report the limitations of our finance ministry by the FCO. Notwithstanding a political entity that helms our finance ministry should always be of credible character themselves. This event is not the second coming of Jesus. It is a mere step taken in the right direction. It remains to see how it will improve on the people's cost of living.
If the MLA appoints the committee he controls it, and it will do his bidding. That will mean no change, I hope the i's are dotted and the t's crossed on this agreement. After that, prosecute the outstanding irregularities XXXXX!
Any requirement for Big Mac to receive 50 lashes with a 10 foot cow cod in Heroes Square as well for his childish behaviour over the past couple of months / years / decades?
I see every one rejopicing at the stripping of the Finance. Poor you guys you clearly dont know what it means. WHO LAUGH LAST, LAUGH BEST. I will be here to laugh last. It would have been best they created the board and leave it at that.
When you all laugh, remeber that UK is in crisis, and they will do everything in their power to go into these British Territories. I tell you look, read and listen before you laugh.
Thanks for the laugh.
Hahahahahahahahahahahahahahahahaha
I will laugh first, last and everywhere in between. UK FINALLY stepped in and STRIPPED Big Mac of his Finance Minister powers. The "king" has been de-throned. OF COURSE HE DIDNT WANT CNS at the press conference because he KNEW what kind of information he had to give out and now he made himself look even more foolish by banning CNS from the conference.
When in all reality HE HAS BEEN BANNED.
Dere you go Big Mac, now take that and see what else you can do to screw this country up. I am SURE you will find a way. Oh that's right, you are taking a governemnt expense paid ttrip to Pennsylvania to support Charles Whittaker at this next fight. I wonder if any other president/prime minister/premier has gone to another country to support their favorite boxer on the public purse? This is why expenses cant be cut in government. Big Mac's trips are just oh-so important!
10:58, nobody is laughing at the current state of our islands, in fact, most are doing the complete opposite because everyone barring you, Mac and the UDP followers actually understand the current situtation we all find ourselves in. The possibilities of what might happen because of the consecuctive government administrations (mal) and the enormous damage that has been caused because of their actions / inactions is anything but laughable.
errrr
FYI – UK is the same as Britain and the Cayman Islands are a BRITISH Overseas Territory, so the UK is ALREADY "in" this British Territory, at least.
As for the UK being in a crisis, I really don't see what that has got to do with the UK living up to it's responsibilities and enforcing good governance in a wannabee "banana republic".
13: 37
What a f@@@ idiot!, you lack maturity …poor child.
The UK has more problems and crisis than Cayman, and is worst off than any banana republic. UK is still borrowing Billions to run the country. We never borrowed a dime and we got our budget.
That was a mature response, you idiot. The expenditure per capita on Cayman compared to the UK is massive, you are talking complete and utter crap. You have a tiny population and anoverwhelming debt to furnish, to compare the UK with this speck of rock is just plain stupid and beyond credibility. Its no wonder this place is sinking with numb headed comments and beliefs like that. We can borrow billions because we can pay it back through a multitude of avenues. Exactly how do you intend on paying your debts back to the UK taxpayer who furnish your loans and overdrafts in the first place?
The UK tax payer does not "furnish (our) loans and overdrafts". We do not owe them any debts.
Ouch, you need to polish that mirror you're talking to mate. Anyways, how do you manage to calculate we didn't borrow a dime? WTF is an overdraft if its not borrowing, you F@@@ idiot… grow up!
Ah – the reasoned discourse of Caymanian political debate – on the one hand a straight-forward comment and the on the other a potty-mouth – I'll leave others to judge on the relative age and maturity.
As to the issue of borrowing – if I recall correctly, buried somewhere in Mac's "budget speech" was a statement that the current Government had restructured Cayman's finances so that $490 million government debt (largely short and medium term) was now approximately $530 million (largely medium term and long term). In other words, they have agreed to pay interest over a longer period AND jacked the total amount up by about $40 million – equivalent to a further $40 billon for a counrty the size of the UK. Had it not been for the intervention of the FCO, the current admininistration also planned to borrow more this year – the amount is debateable, but as the Government decided to increase it's tax take by c. $50 million this year, that might be a good indication of the amount. Again – scale this up to an economy the size of the UK and you get an increase in borrowing of approx. $50 billion. And don't forget, Cayman can't borrow as cheaply as the UK.
As to the issue of the UK having a tough time, I would agree with you, but it's capable of taking care of itself. After all you are talking about a G8 economy, with the largest financial services industry on the planet, the 6th largest manufacturing industry on the planet, an "AAA" credit rating (better than most of Europe and the United States, and Cayman of course). It's in control of its own currency and interest rates and is slowly bringing unemployment levels down. On top of that the Government spends approximately the same per capita as Cayman, but for that provides free health care to all residents (and quite a lot of visitors), free school education for all children (whether legally resident or not), 115 universities (including 4 of the world's top 25 elite univerities) and a fairly major social security system (We also have a Navy, Army and Airforce – part of which is hanging around the Caribbean ready to provide a 100-bed hospital, helicopters and several hundred tonnes of emergency supplies in the event of a major natural disaster) – but I digress.
However, to return to my main point – so what if the UK has an economic crisis, are you arguing that because the UK has a downturn, Cayman should just be allowed to go down the pan when it doesn't need to? Are you saying that apparently corrupt behavior should not be confronted? Are you saying that seemingly shady deals shouldn't be questioned? Are you saying that freeloading and cronyism should be allowed to continue unchecked? Are you saying that the expenditure of huge sums of the peoples money for very little apparent return should be uninvestigated? Are you saying that threats and bullying by senior members of government should be accepted? Are you saying that wilful perversion of due process should be allowed to proceed unfettered?
You need to get your head out of the sand, my friend, and have a long look around. Cayman has major structural problems, of which its financial position is a relatively minor one, yes, but control and appropriate use of Cayman's financial resources is the key to solving them.
Here's one idea to start with – how about less fridges for West Bay and 100 extra teachers in the schools?
Maybe a few less subsidised turtle steaks and Cayman could invest in an internship program to place and support young Caymanians in major overseas firms so they can develop the business skills that Cayman needs
Or how about – with proper, transparent tendering procedures Cayman could have got the new schools for $100 million instead of $250 million
The FCO's controls are not just about the budget, they are about how public affairs are conducted in the Cayman Islands for the benefit of all, not just the kleptocracy.
One million thumbs up for you Mon, 08/27/2012 – 21:28.
Finally the UK grew a pair and stopped this jumped up gardener in his tracks. Next thing to do is remove him from office and get rid of the 'banana republic' mentality that came with him. Oh yes and get rid of that puffed up 'Premier' title. He has proven that he is not worthy of such a position and since when did any 'Premier' report directly to a Crown Minister or UK Civil Servant anyway. It's a pretentious piece of self importance that holds no real authority around the world, so ditch it.
No cuts or curbs on expenditure?? Boo!
Thank God… Thank Bellingham…oh Happy Monday! What a great way to start a week!!
“Mac stripped of finance job”
Hallelujah – Praise the Lord – Amen!
Why do we need someone from England to be an economic advisor reviewing our finances every quarter? What do we pay the Financial Secretary, the Chief Officer and all her deputies and the Chief Financial Officers to do? It's sickening the way we waste our money on civil servants who don't do their job.
Yes, that home grown financial control has worked so well to reduce spending over the last few years Cayman was given too many chances to make some changes, now it is time for the Mother Land to send some money men.
You just answered your own question.
They are not economists. We need more than bean counters.
Then we should stop paying them like they are economists. They are all hopelessly overpaid and under achieving. One of them in particular has campaigned for years to do away with quarterly reporting because it was so much work (ie she couldn't handle it). Now the UK has come and said that is what we want. Alas, da wha we get Cayman for our useless senior finance people not being able to do more than match a receipt to an invoice (the main role of Treasury for many years).
The first task of the new Budget Board is to declare the Nation Building Fund a "financial irregularity".
Hear! Hear!!
9;53 Are you against this, becaus it will now educate the Caymanians? what is your real reason for wanting to dump this?
If we had got our own finances in order in recent years and stopped the endless complaining about the Public Management and Finance Law and instead implemented its fiscal prudence conditions, we would not have had this humiliating UK interference. I am deeply embarrassed that we have to allow some UK person to review our finances on a QUARTERLY basis, the very thing our geniuses in the Finance Ministry and some CFOs have complained about endlessly. Well, now they have the UK monitoring them and, hopefully, holding them accountable, something our civil service did not do. And by the way, the Constitution specifies for some mysterious reason that "there shall be a Financial Secretary". Why is the Deputy Governor and not the FS – the logical person one would suppose – chairing this UK imposed board or committee to oversee the Budget process? I think there are some questions that need to be answered. But maybe they will not even be asked.
The current financial secretary appears to be ineffective. Look at the financial damage that has been done on his watch.
Thank you sweet baby Jesus.
You honestly think he will sit back contentedly and not meddle with the workings of this new Finance Committee?
Who appoints this committee? If it is the MLA, then no change because he has control of that through your absurd voting system!
What absurd voting system?
I didn't think the UK had the cojones to take over (financially at least), but thank god for that. Maybe, just maybe, Cayman might survive. Now all we have to worry about is a massive crime rate, widespread unemployment, and the near total destruction to the economy that Mac has visited upon us. No, on second thought is is too late. Mac has destroyed Cayman. Nothing left to do but (a) not let the airplane door hit me in the ass on the way out, and (b) click the troll button on my own post.
THANK GOD
Sorry – stopped reading at "Mac stripped…" in the headline…
Too much to stomach (pun intended) on a monday morning!!!
What balls! Mac gets slapped in the face, pats himself on the back, continues to blame someone else but "admitted that the loss of economic sovereignty would put the country back on a sound economic footing"!!!! I cant wait for chapter 2!!!
Thank goodness the UK will be supervising monetary things for the time being. And great news that Bush has been fired from any role in anything to do with spending/borrowing. Now we all need to pray that he goes away entirely following the next election. I don't know about you but I'm sick and tired of listening to his loud-mouthed nonsense.
In other words from now on Mac will only be able to carry an empty slop-pail to feed those at the trough…
Alden is such a loser.
IF the enactment of the Law removes something provided for under the Constitution, and IF all laws in the Cayman Islands must conform with the Constitution, then wouldn't the enactment of such a law – unless made through a modification of the Constituion – be unconstitional?
Oh that one is easy. The unconstitutional Constitution constitutes that the Constitution is consistently constitutional.
Does that help?
If you click the troll button, may a dose of something dreadfully unconstitutional befall you.
Dah wah yah get.
Thank you, UK. Thank you. I praise thee, O Motherland!
Listen up everyone, Alden is right, however our Premier and hisblind UDP followers do not have the intelligence to understand this situation. Please voters, remove all of them (the UDP) from office and place intelligent business people to represent us and the interests of our country. The damage inflicted by the UDP on our country is far reaching which we will be feeling the effects for years.
What is wrong with you people???? These "effects" that we are feeling now is strictly a RESULT of the last PPM ADMINISTRATION!! The world was in a recession 5 years ago and it hadn't even reached Cayman yet! Although being told that we needed to cut spending and save something back, the PPM REFUSED!!!! Therefore, when the UDP were elected into government they had to fight the UK then in order to run the country…..as some of you don't remember, the PPM left us with only $18,000 to run the country!!!! We had to beg the UK in order to get a supplementary budget in 2009 and then approval to borrow funds in order to keeping this country running for 4 years!
My oh My how foolish you all are for thinking that Alden and the PPM are our saviours! And even worse, that the UK means us any good!!!! They have no use for us but to destroy what little independence we have from them. LOOK at Turks and Caicos……they will NEVER again be able to have control of their country again. So go ahead and rejoice, your poor children and grandchildren will be the ones to suffer for your foolish celebrations. As we already see that the UK was not willing to cut their UK Police officers or their housing allowence, etc. No, it is the native Caymanians that will suffer eternally.
Thank you Alden and PPM, and Ezzard is definitely no better!
I agree that the PPM left a financial hole.
However, instead of filiing in the financial hole, the UDP kept on digging.
OMG, you, Bush and Obama have been singing the sameold song for the last number of years blaming it on the last administration, well, what has Bush got to show for his 3 years in office? He has talked so much but did not translate that into action. Nothing even in the works or ground broken. How can he complain about constraints when the budget has increased more each of his 3 years in office?
I drove by that big church this side of Bodden Town that he supposedly donated so much to and there is nothing going on there and looks like it hasn't for a while. He talks about donating to them so we have hurricane shelters, well, perhaps he should have agreed to donate the last amount of money, not the first amount as clearly, that money went to waste.
No, they are not "strictly as a result of the last PPM administration". They are directly the result of Bush's own failures to achieve his own three year plan, and to substantially cut expenditure, and not waste public money on vote buying extravanganzas. The PPM dug a hole and the UDP made it deeper.
The Minister of Finance has been fired. This is a good thing.
I expect that Mr. Manderson will be able to do a much better job of steering the government and the economy. He has the leadership and statesmanship qualities that are required to bring people together. Many people must come together to make the tough and painful decisions that are needed to dig the country out of the financial hole that both the UDP and PPM have created over the last decade.
I wish Mr. Manderson the best in this area and hope that the Caymans can move forward into a sustainable future prosperity.
The Deputy Governor will only do a good job if he is able to distance himself from the Premier and his crew. I hope he will !!