UK rejects latest CI budget
(CNS): Following news that the premier is reconsidering the proposal to tax expat earnings, government sources tell CNS that the UK had already rejected the budget proposals that contained the new tax over concerns about the credibility of that and other revenue raising measures. It is understood that the FCO questioned the operating revenue predictions in the budget proposal, which was submitted to London on 31 July, and said the Cayman government needs to do more work on the budget before the minister could offer his approval on the spending plans for this financial year. Premier McKeeva Bush had previously stated that he wanted to present the budget on 9 August but that is now unlikely to be the case.
CNS asked the premier Tuesday, in light of the changes, when he expected to be able to deliver the budget but he was unable to confirm a date. “When the date is known the real press will be notified,” he told CNS by email, indicating that he did not consider Cayman News Service to be the “real press”.
Local opposition politicianshave also confirmed that they have not been informed of the date when the premier plans to finally deliver the last budget of this administration.
The premier confirmed on Tuesday that the tax is off the table after the private sector had made a commitment to support other revenue raising measures, the details of which are expected to be revealed tomorrow at a public meeting in George Town.
The need to reassess the operating revenue will, however, lead to further delays in the presentation of the budget to the Legislative Assembly and may lead to yet another eleventh hour delivery. Government will need to re-submit any new revenue proposing measures, officials have said, because the UK will need to examine the new revenue proposals to ensure that the ideas are both credible and sustainable in order to deliver the expected cash.
This means Bush will need to redraw the budget based on the expected revenue projections of the alternatives to the tax proposal, resubmit the revised budget plan to London and wait on the FCO’s approval, present the approved document to the Legislative Assembly, debate the proposed bill, scrutinise the appropriations in Finance Committee and pass the budget into law — all before 31 August when the recent stop-gap budget runs out.
It is understood that a number of alternative proposals have been submitted to government and the premier has agreed to adopt some of the measures that have been suggested, which are believed to target the offshore sector and the high-end tourism condominium market. However, no details of any of the measures the premier has agreed to have yet been confirmed.
The budget submitted last week represented some $592 million, despite significant cuts to government spending. The budget had a surplus of $70 million, whichfell short of the targeted $76 million surplus that the UK had required so that the CIG would not need to borrow to fund capital expenditures during this financial year.
Category: Politics
Apparently government departments have been given the green light to recruit more staff
Can you believe it !!
Please provide evidence that will support your statement that "government departments have been given the green light to recruit more staff". I am shocked that someone would make this type of statement without providing any verifiable evidence.
I wish the UK would just come and take over. I am a Caymanian and sick of our corrupt system, cronyism, nepotism and familyism. There is not one politician I would vote for in the current standing. I am tired of seeing highly paid civil and public servants get free gas for personal use with gasboy. I am tired of public money being wasted on buying votes with free paving, I am tired of seeing family members of the people in power being treated with favouritism PPM or UDP it does not matter.
Now the UK government isnt that squeeky clean, but at least they wont have this 'tribal' attitude our politicians have.
I agree with you. Only those that have something corrupt to hide need fear a UK takeover.
Those of us that work hard and live within the rules can only benefit from such an event.
Well said…our politicians in power soon forget public sevice in the interests of SELF service.
This is the best paid job any one of them uneducated ones could ever dream of and will as a result do or say ANYTHING to keep that job….meanwhile the goose that is laying their golden egg is slowly dying.
Kick out the UDP as a first step.
This tribal attitude that our politician have adopted came about as a result of taking advice from too many people who came from that system of politics. It was entirely different when our leaders were connected with leaders from first world countries. How Cayman, is fast becoming third world. I pray that the USA does not decline further because that would be very determential to our industries.
Its the UK that help us got where we are now. Why go to the same old school of colonialism to find your answers. Cayman became great and prosperous one time by a diverse group of intellectual leaders in finance. Where was the UK when it was booming? And where was the UK when we needed help?
How can you blame the UK for Cayman Government's mismanagement of money?
Make him keep playing around with our budget – we have no budget! Right now we are on an emergency budget. If the Uk have to step him because of our internal affairs, it is not going to be pretty. That will be another dictatorship and I know they will do some cuts that everybody will be crying blood. Unfortunately the UK wants rejects this budget, not because it does not want the CEF the expat tax, but because it does not see enough reductions. McKeeva can travel to Jamaica for Independence and travel to Olympics and keep playing around on this very crucial matter. All of the other UDP members should be ashame of themselves for letting that man carry on the way he does!
TCI are getting ready for their elections in November…… The UK are packing up to leave there. Wonder where they'll be going next. Hmmmm
Education Tourism in Grand Cayman.
I just want to throw this out there as an alternative to create new revenue and kick start the East End and the country on a hold. Mr. Miller I encourage you to get behind this please.
Use the New Mega Million Dollar High School in the East End as an International University of Study.
Market Cayman as an alternate study destination. Earn your degree, study in the sun and party on the beach after, something like that.
Second contract suitable qualified Teachers and Professors to come to Cayman to teach at that University.
If the school can hold 1,000 International student at $30,000 a year for tuition (just a ball park figure) this will generate $30,000,000 million minus $10 mill to cover expenses = Net $20 million in just one year….. Shocking… isn’t it?
For 1000 student you will probable need about 120 Teachers and administrators which equates to more Govt fees, more revenue , increase need for accommodation, new money circulating in the economy, reduce debt at no cost to the Govt.
There is no justification at this time given our current situation to relocate the Cliffton Hunter kids from their current George Town School to house them in a New Mega Million Dollar High School in the East End at the country’s expense.
We market Sports Tourism, Medical Tourism, now let’s create Education Tourism starting with the New Mega Million Dollar High School in the East End.
No point beating a dead horse, or milking a dry cow, get new fresh ones….. Come to Cayman Islands and study in the Sun. Just an idea for our Premier
Good suggestion. St. Matthews University is an existing example of this suggestion.
No-one will pay $30k tuition fees to come to a non-rated unestablished college in the middle of nowhere. Add to that the cost of room, board and a little spending money and ….. You can forget that one Bobo 🙂
I agree that $30,000 per year is way too high – but you should not be too quick to throw hot water on the idea. We in this country need people like the person who has suggested this.
Cayman is one of the best banking centers in the world so you are being disrespectful to us all by calling it ''in the middle of nowhere'.
Thinking outside the box is good, and so is the ability to evaluate what we have and use it to achieve the most benefit. As I replied to the same post someplace else on this site,an additional idea is to offer online classes to students around the world at 1/2 the cost of similar courses in America. The key ingredient needed is to have the same accreditation standards that are used in America.
Since we are famous for insurance, banking and finance, and have many professionals in those fields it would be perfect to focus on degrees in those areas. I believe that those expat professionals who specialize in those fields would be happy to become involved.
This idea should be developed further and if you wish assistance in developing the idea to send to the Minister of Education you can email me at ari.greenwood@yahoo.com
totally agree. Grenada (an island approximately our size) has a very well known university/medical school that attracts approx 3500 students from overseas. The university and students contribute a lot to the island's economy. The Government over there recognized that and last year convinced UWI to open a campus in Grenada to boost the economy. Such initiatives benefit not only the economy but directly positively impact the people there by providing quality education services and in the case of the med school, quality health care.
Mac will just move the ‘Community Enhancement Fee” from 10% to 25%.
Yes I agree move it from 10% to 25%. It is the best way forward.
I visited the Facebook group "Caymanians & Expats United Against Taxation" and must admit that I did not see many indigenous Caymanians listed as members of the group. The group appears to still be primarily an expat led group with very little traditional Caymanian support.
Despite this fact the group must still be recognized for the role it played in getting the government to reverse direction on the proposed "Community Enhancement Fee".
"I did not see many indigenous Caymanians listed as members of the group". Presumably this is because iguanas are not than interested in Facebook and they are the only indigenous Caymanians.
Actually they came from the Caucaus Mountains hence the race Caucasians.
What you say is true and it is a pity. I know most Caymanians I talked to were at least ambivalent about the tax. But when only Caymanians speak up who think it is "time for the Expats to give back", voices like yours are left unheard.
I tell you, I am a part of this community and found my new home here and intend to stay for the long run, but I had never heard about Stingray City or 7MB before I arrived. The only thing I new the diving was supposed to be good and there is no tax.
If you want to feel how life is w/o Expats, look no further than the summer months now. They are all gone. What ever your work is, would you keep your job in a situation like this?
Yes.
What is "traditional Caymanian support"? I see that it has been spearheaded by Caymanians, has Caymanian spokespeople and was predicated on the basis that the proposed tax would have harmed Caymanians just as much as expats. I think (assuming you are a "traditional Caymanian") you should be proud of these people because they have done an amazing job. If they're the future of this country then it might just be OK.
People like you is the problem in this place,
Indigenous Caymanian? why even bother to make such comments, did you stiff over the 11 thousand names and weed out the indigenous individuals?
It’s not about real or fake Caymanians, that not the point, it’s about this Tax and bad budget being bad for everyone, and we indigenous Caymanians in the end is the ones who going to be stuck with it in the end
This is no longer a quant fishing and rope tying territory, and hasn't been for decades. You cannot go forward when you pine for the past. There will be thousands of new and qualified Status holding voters (many times what you might ascribe to the "giveaways") that don't require your personal recognition to exist. They do exist, they went through the process, and they are not going anywhere. You and any other "traditional/indigenous" countrymen and women, and all our politicians, and radio show announcers, need to wrap your head around that reality and get with the times if we are all going to be united for Cayman's future.
Do you know why you won't find any 'indigenous' Caymanians listed? Yes, it's because there aren't any. Caymanians, or British Overseas Citizens to quote their passports, are all immigrants from various diverse countries. And with exception of the few that can trace an unbroken genetic connection to the original founding families from the UK and Ireland, an indigenous or native 'Caymanian' is as rare on this island as the large reptile that bear's the same name. In effect a 'Caymanian' is no more a national identity than a Londoner or New Yorker.
And therein lies the rub and the reason why a large number of 'Caymanians' are so confused about their own identities and indifferent to those who they view as outsiders.
With so many diverse communities making up the population of such a small island and with those who consider themselves 'indigenous' because they happen to hold a well known family name, cultural, family and even district rivalries will inevitably bubble to the surface. This is apparent in the social and political rivalries that are all to obvious today and the reason why mature politics will always suffer in the future and will continue to regularly decend into farce in the present.
The only way forward is for the UK to impose direct rule and reign in the banana republicans that are as incompetent as they are dangerous for the future of the Cayman Islands.
How do you tell that someone is not an indigenous Caymanian? You cannot tell by looking at someone or their surname any more, remember that.
You have not been around long enough to know the difference.
There never were any indigenous Caymanians. Everyone is an expat, some are just more diluted than others!
Sounds like you get your facts from the same dark smelly place Bush does. Wait. OOO sneaky. You know only the voters will belive this crap.
You can't tell a Caymanian by a last name. For instance my son is a Caymanian with his father's last name which is Spanish but he is more Caymanian than me. I have two Caymanian parents but I lived overseas for a few years but my son lived here all of his life.
Conventions need to develop within Cayman's newly empowered government that the major portfolios must be spread out. We all understood the reasons for Mac wanting to appropriate all of the important functions to himself ("Minister of All Tings") but the country suffers when that happens. Finance is a particularly important function which involves having to meet various deadlines throughout the year, and the life of the minister responsible is meant to revolve around meeting these deadlines and preparing to make public announcements regarding the country's finances and plans for the future. The Throne Speech, the SPS, the Budget, the Supplemental Budget, these are all key features of Cayman's financial year/governance and they can't be phoned in from Shanghai.
I say give him another 2-month budget….. followed by elections. That way the FCO will know if McKeeva represents the wishes of the majority of Caymanians.
We will soon be 2 months into the new fiscal year and still don't have a budget. The last time I checked, budgeting involved forecasting. What we have here could be historical reporting. Thank you FCO for showing this government that this whole thing is unacceptable. Unfortunately the government will not listen to it's people. We are crying out for better representation. Anyone thinking that independence is our solution is overlooking the fact that we can't even get a budget done on time, let alone ahead of time. Come on! We can do better.
Independence is our solution!
Independence from McKeeva that is.
All those who are hell bent on seeing a budget pass and want to be Premier, why don't they do it. Since they are all so full of words to fix everything, then fix the buget. All of you who are blogging nonsence because of hate for the Premier, why dont you then take the job. All mouth I am sure. But next year your time is coming. You cannot hurt Bush I hope you know, But all the Independent and PPM followers will make a big blunder of this Island just because they will only be considering and working towards hurting Bush and then they will criple the Cayman people in doing so. Just wait and see. I am positive this will happen. Problems has not begun yet.
Last time we all checked, apart from you evidently, Mr. Bush was doing a stellar job at hurting his own image as well as that of our island.
Clearly you are either blind or you do not understand much of what you read or see going on around you.
The fact that you clearly still support this mad man also shows that it is people like you that will ultimately hurt the Caymanian people and this country by continuously supporting a buffoon with no clue, purpose or plan.
A very concerned Caymanian.
I agree! Its not Mac's fault, he said so himself. Its everyone else that is the problem. All those parliamentary procedures are getting in the way.
If he would stop wasting OUR money on his "nation building" vote buying fund then the government could easily balance the budget.
That's the whole problem: WE CANNOT DO BETTER. Both the PPM and the UDP have proven to be incapable of providing efficient management and fiscal prudence. The bottom line is that Cayman has absolutely no PARTY in toto with the necessary skills to manage the country.
Can you read? The problem is CURRENT expenditure, not capital expenditure which is all people like you can accuse the PPM of. You never remember to ask how much current expenditure is saved every month by the efficient, modern GOAP building in electricity, rent and water bills. When your child is in a new school we needed over 30 years ago you will forget that you thought they weren't needed either. You probably drive on the new bypasses too!
We're talking about the ability of MLAs to govern the country. There is no politician in this country with the education, experience, honour, and integrity to lead this country out of recession – PERIOD! And to argue othrwise is futile.
When you go to the Meeting tonight my suggestion would be totax the whole of them Caymanians and Foreigners. Let everyone who enters that airport pay a 5000 dollar tax fee before leaving. Tax them when they come back too. Will you not open your eyes and see how many of them is against you. Tax all districts except West Bay. along with all expatriates. You do not need the others. They are hell bent on taking you out anyway so Tax them, all of them. Tax all the money expatriates is sending out of the country. Tax their dog and cat too. They has no business here without a workpermit..
Look at the Caymanians who are cursing you. Tax all of them, Expat and Caymanians, then give them the bag and say run the country since you so want it. End of conversation.
The only paractical solution to our budget in my opinion that the UK will accept is the one proposed by Mr. Tim Ridley. Of all the suggestion that I have read so far Mr. Ridley's suggestion is the most realistic and practical. All others including the Chamber and business community are all one sided and what the UK government is looking for is a budget that is practical and sustainable. The way things are looking if the government i.e. all elected leaders don't come together and present a sustainable budget to the UK the government will have difficult meeting its financial obligations soon and this is a real shame as I am not aware of this ever happening in the Cayman Islands.
Unfortunately, many of us that have worked as contractors for CIG know that CIG has not been good at meeting its financial obligations for at least the last ten years, if not longer.
When Government doesn't pay its bills on time, a bad example is set for the whole jurisdiction and the cost of everything goes up as business compensates by accepting those who never pay on time, or not at all as "business as usual".
We need to reset the basic rule that the government can be trusted. Trusted to pay its bills on time; trusted to create and maintain a legal and commercial environment in which business can thrive; trusted to generate and encourage a culture that will improve productivity in the public sector every year; trusted to treat everyone in the jurisdiction fairly; trusted to give long and hard thought towards changing anything that upsets the balance of the economy.
Trust and confidence are the essential requirements for Cayman's future success to occur. That is why a politician that breaches turst and destroys confidence must be made to step aside, sooner rather than later, so that rectifying the breach can occur.
Since the it is ok with the Premier to suggest that a person is Tarred Feathered & Flogged or was that in reverse order…can he put that into law? I would surely appreciate it if the people could as a mob act in such a manner.
I am sure a Bull cod is somewhere to be found and I think it would make good press or a commercial.
All the expats plus logical Caymanians on one side (in a line ) with armour made out of office equipment with their floggers likely a desk phone or reams of papers glue guns and feather shooting shredders.
Facebook generals dressed as cossak horsemen
On the opposite side, the barbians mostly status holding nannies, crackheads and other cruffs sporting turtle shells and cow cods. Home made catapults ( tin can with crackholes punched in it) with hot tar and old pillow cases with feathers.
The King and his generals (advisors) in the SUV.
Then after a messenger is sent to the front to discuss the term of the engagement both sides shout charge and the flogging begins
Mr. Foster, Mr. Thompson et al
The commercial families in Cayman need to step up to the political plate.
Your continued prosperity relies on government policy and strategy.
The commercial families are already independently wealthy so you can afford 4 or 8 years away from your businesses.
It is time for you all to give back the community that generated your wealth. Giving advice to McKeeva is a waste of time and cannot benefit Cayman. There is ample evidence that this is so.
Please, run for office and lead by example. Take a $1.00 per year salary and put this country back on the rails. While you are at it, mentor a generation of young, hard working, well educated, well trained, and (hopefully) ethical Caymanians to take over after you step aside.
I strongly believe that this is a practical way forward for Cayman. You are the ones who can dig us out of the hole that the UDP and PPM have dug. If you do not step up to the plate, then the hole will only get deeper, no matter who wins the next election.
Warm regards,
A person who is deeply concerned for the future of Cayman
I'm voting for Woody!!!
To infinity and beyond!
This is a great idea, le’s make it happen.
Do you really think that a bunch of business people running Government is the best thing for Cayman? Who do you think they will look out for your interests or theirs? These people are no different the set thats in there now, hence their ability to influence them. I encourage you to wait for the announcement today so we can see what "surprises" it will contain – I suspect they are going to continue taxing the middle-class so the rich can continue to profit…
I wasn't the writer of that comment but I do think that a bunch of business people is what Cayman needs. Why? Because they worked hard for the their money and they won't pay others to be lazy. The same arugment is made in the U.S. where the government taxes the middle class so the rich can prosper. What no one understands is that the 1% of the wealthiest people pay 99% of the total taxes paid.
Those buinsess people have gotten where they are because they understand how to make money, spend money and save money. That is something Cayman needs. They need leaders that won't give away money to the poor who are capable of helping themselves.
Here, here, it's the the family cartels in this country that keep the cost of living so high. Open up the markets and welcome free enterprise, if you can't compete, get out !!!
Is it true that the Financial Times, WSJ and other leading financial journals have made attempts to contact people in Cayman as they are going to run a story about the financial mess that we are now in? I really hope that this is not the case because this kind of publicity will destroy these islands.
This man is the worst leader ever! He needs to step aside and some else lead this country! This nsn cannot get a budget!
We are in deep trouble! Elio, the Jordanian genious and MacGaby not fix the budget. Now that is some disaster. Julie needs to have a come to Jesus session with them!
How can McKeeva reveal the alternative measures tomorrow if they need to be approved by the UK? All he will reveal tomorrow is his latest pie-in-the-sky ideas that he intends to put into a draft budget and send to the UK for rejection.
And I see no-one has even bothered to mention the way Mad Mac made out he'd listened to the business leaders with anopen mind and then accepted their recommendations. He knew perfectly well his daft tax had been rejected, but that's the kind of spin we expect.
I'm not going to get too excited if he proposes a window tax, or turning west bay into an amusement park, or selling the dump or something else crazy tomorrow because it's never going to happen.
Here's my prediction: no budget by August 31. Another interim budget until the end of the year. Another crazy anti-expat idea for the run up to the elections, but no budget, then goodbye McKeeva forever.
Gambling soon look good to everyone. Mac dumb like a fox
It will take 2 years before the first dollar comes from a casino. Not an option to balance this years budget which we are already in to tune of $50M. He is not that “smart”.
A Casino can be set up overnight with all data going to 1 server and revenue can be collected right away ….I bet if allowed a banquet hall or some other empty property could be set up as casino in less than a day. I almost forgot there is a buch of games allready in progress in town.
Well done fco…… No more pretend budgets!
Bush has done the best he can given his limited education again and again. No matter how many times he does it again it will not get better. You want better you need to get some one with some financial skills and at least a 12th grade education. Why is that so hard for the Caymanian people to see. Give it up already. As he has failed at just about everything so far expecting him not to fail farther is the mark of a true fool. Unless you expected him to fail at everything but keeping the civil service fat. Hmmmm. Explains a lot.
"…he has failed at just about everything…"
Except enriching himself. The man is smart from that point of view. Not bad for a failed gardener.
Did you not read the same news story I did then let me help, the UK REJECTED THE BUDGET WITH THE EXPAT TAX in it!! Its not out because of indecisiveness its out because the UK questioned the credibility of the the tax, bam end of that! And FYI since expats can't vote he was not concerned with what we had to say in the first place!
No surprise there.
However, I find it interesting that the UK is so adamant against the Cayman Islands borrowing in the middle of this greatest ever global economic recession of all time.
Moreso as the UK has itself BORROWED over £100,000,000,000.00 (from the Bank of England) into its own economy (in the face of crumbing or currently non-existent industries and infrastructure) within thelast 6 months alone – only to find themselves smack in a double-dip recession at this very moment.
Anyway – can we just stop this dance, UK?
Why don't you just prepare and enforce our budget as you see fit and call it a day?
Don't worry, we will worry about the resulting thousands of unemployed Caymanians and residents afterwards. After all, we can just follow your example and put them all on government benefits – what was that again … almost 30% of British households are "workless" and 1 out of every 6 children is fully dependent on government funds for survival?
I am sure we can handle a 25% rate of unemployed under 25's as well as you can … after all, who gives a toss about looting, burning, murdering and rioting on a nation-wide level (August 2011)?
Also, your country is very familiar with a rise in crime as of late – when we experience the same we will simply turn to you for your expect advice in that regard.
I am certain to receive harsh criticism for these words and many will lay the blame for our situation squarely on the shoulders of our inept Premier, however, many tend to conveniently forget to attribute similar blame on David Cameron, or even Barack Obama for that matter. Interesting, as both gentlemen are (allegedly) responsible for getting their respective economies back on track in these … a task at which both have utterly failed.
Yes, in those instances there are always eloquent and well-presented reasons for why things are the way they are. Never mind that neither of those countries have a snowball's chance in hell of ever getting back "into the black" in any of our lifetimes. Contrast that reality with ours.
Furthermore, never mind that those two countries are the main culprits as to why the entire world has been plunged into this great economic depression.
There is no question that there has been mismanagement of our funds by both parties and even beyond, however, the industries of our economy remain strong and lucrative – even in these difficult economic times. Furthermore, the economy of the UK is infinitely worse off than ours – in spite of 2 centuries of "Oxbridge" leadership.
Nonetheless, you (the UK) seem hell-bent on playing these cat-and-yarnball games.
Personally, I find it absolutely ridiculous and spiteful – no doubt driven by jealousy – that the UK is conducting itself in this manner (E.g. "The budget had a surplus of $70 million, which fell short of the targeted $76 million surplus that the UK had required so that the CIG would not need to borrow to fund capital expenditures during this financial year.") and frankly I fail to see how such tactics are in the best interest of the "British citizens" of the Cayman Islands … but I am in no way surprised.
The Cayman Islands is by no means in an "economic crisis" (any other world leader would GLADLY trade their economic standing for ours in a heartbeat) – instead, we are caught up in a diplomatic crisis and egotistical tug-of-war.
That is not to say that there is not a LOT of work to be done or that everything is perfect within these isles, however, things are NOT as dire as they are being made out. In reality, the greatest "threat" to the Cayman Islands right now is of not meeting an artificially imposed economic deadline.
Clearly many of us despise the Premier and consider him as "incompetent enemy No. 1", however, we must neverlose sight of the bigger picture in all that is taking place around us.
Therefore, dearest UK / FCO … can you kindly get on with it.
Flex your all-superior and all-knowing muscle and finally make your move because frankly, I for one am quite bored with your little games.
Render us into the over-taxed, under-paid, overly-dependent, double-dipped recessive, rioting, unhappy and crime-ridden nation that you have become … after all, are we not all British?
I thought that McKeeva Bush had told us that it was the UK government that told him to implement the tax. I remember the Governor on Rooster saying that the UK did not tell the Cayman government to introduce tax. Now we know who was telling the lie, & it sure wasn't the Governor.
You must be kidding! The UK have clearly stated in a number of offical reports — not least the Miller-Shaw Report — what they expect of the Cayman Islands by way of the budget and Bush has ignored every word! EVERY WORD! Our Premier has treated the Governor, the the FCO, and in fact eveyone else that disagrees with his policies with utter contempt. Well, I think it may finally be dawning on Mr. Bush that no matter what he said in his Premiership address in 2009, Cayman will always be in the UK's back yard!
Would you please provide some references? The highest figure I could find for workless households across the UK was 18.8 percent — not great, admittedly, but far from 30 per cent. It is 30 per cent in some areas, true, but that is not the same thing.
. and don't forget that "workless" households includes pensioners, student housing and people who do not need to work to live (which I remember as being a surprisingly large number last time I looked into these figures).
@ both posters above.
I apologize and take it all back – the British economy is perfectly fine and not in the middle of its worst ever recession.
Is that better?
Sure, if you’re five. Not sure why asking for your sources elicits such a childish response. Are other posters here not as entitled to truth and fact as you claim to be? Believe it or not, I asked for references (and bothered to attempt to find them myself) because I was interested. Like you, i don’t accept everything I read as fact without doing my own homework. I couldn’t verify your statements and thought you might like the opportunity to back up your ideas. Guessnot.
I'm sorry, did my posting a fact offend you? My point was that you need to check the statistics that you are using. The term "workless household" in UK statistics is used to cover both households where everyone is unemployed AND those where everyone in the houshold either does not either need to or does not wish to work. As stated above, it includes pensioners (with both state and private pensions) and a host of other people, such as registered foster parents (who are paid by the state to look after children in need of care, but who are not, for some reason, classified as working).
Despite your view that everything is wrong with the UK, it's still a G6 country, London competes with NY for the largest financial industry in the world (currently ahead I think) and it's still the 6th or 7th largest manufacturer in the world, despite being around 21st in terms of population.
At least the Coalition Government in the UK is attempting to do something about the problems that it inherited from the last Labour Government by both cutting state spending and raising new revenue – exactly what it's asking the Cayman Government to do.
hmmm – worst ever recession? Ever heard of the Great Depression?
Blah, blah, blah. Another pile of anti UK/US garbage from master troll. Try coming up with some original thought and solutions instead of a pile of plagerised crap off the internet.
All of my thoughts are original, my friend. Actually, your advice may be better applied to some of the other folks on here that constantly spew the rhetoric of the FCO / UK. Rhetoric that can produce not a single shred of evidence that it succeeds or has been applied in the real world, i.e. the British economy.
'All of my thoughts are original', then that just confirms my point, you really are dumb.
Some of yr posts are good but this is stupid for too many reasons I can’t be bothered to address. The UK has many issues, but can print more money, and has more people to deal with these issues. Cayman is like a small town, that is why these problems are so serious for Cayman.
Re: "The UK has many issues, but can print more money…" – yet my post is the stupid one?
Sorry poster, you really should improve your understanding of the western economic / monetary system.
Anyway, I am not here to engage in battle and I do appreciate the feedback – hopefully this short exchange will spark a new chapter of discovery within.
Judging by the non-support of my reply and hence inherent support of the respondent's perspective – am I to assume that the majority is in favor of "money printing" as a viable method to stabilise an economy?
If so, I really ought to quit wasting my time with some of you turkeys.
Get a clue folks – close your university textbooks and open your eyes to reality … you have been duped.
Actually … never mind – stay on that hamster wheel – it'll keep you healthy and trim.
Are you this smug, unpleasant and arrogant in real life or only when you are trolling online?
If smugness, unpleasantness and arrogance are your true objections – why then have you failed to call them out on the many instances they have been directed my way on this very thread?
Clearly you have an agenda and for some reason my initial post has hurt your feelings.
I have no time for emotional online battle.
Here's a video from BoE for school children explaining how creating new money electronically increases the money supply (much faster than any modern printing press could print). It's called Quantitative Easing and it injects new capital into the economy: http://www.bankofengland.co.uk/education/Pages/inflation/qe/video.aspx
Please feel free to share with your classmates.
Idiot, what do you think quantative easing is if its not the ability to print more money and ease it into the economy? You continue to embarrass yourself with your benial musings and non sensical rantings.
You may be interested to know that inflation, the budgetry deficit, unemployment and interest rates are all coming down in the UK. We have successfully held the worlds premier sporting event and sit quite comfortably at third in the medals table, we have also celebrated the glorious jubillee of HM Queen Elizabeth and invited the world to share our culture and heritage. If you knew anything about the UK and her people, you would see that we don't allow negativity to rule our lives and we continue to strive as we have done for centuries to prosper and improve our lives. Its called a 'feel good' attitude, something you obviously lack
Apart from identifying rampant corruption, an over bloated civil service, an uneducated and self indulgent political class, massive deficits and a collapsing economy. What exactly have you done this year besides destroying your reputation with almost every country in the world and whine that its everyone elses fault?
Whatever the sources of your other issues, it is becoming increasingly clear that your subconscious wrestling with your half-Caymanian, half-British heritage is a significant driver for much of your anti-British sentiments as part of overcompensation in an attempt to establish what you perceive to be a more defined personal identity. Your deep desire to try and have the last word on everything is consistent with this, as it shows the strong emotional attachment that you have to "winning" arguments on these topics.
Hi poster,
Copying and pasting today, huh?
My other name must be "Twitter" – because you follow me like nobody's business.
🙂
Is that the best you can do? You just could not resist have to respond could you?
Actually, no – that was not my best, however, it is the 'best' that you deserve.
Now run along little one – find yourself some traffic and go play.
Thank you for being so patronising. Just get used to my cut and paste post. Because it floored you. Now run along and try to think of a better response next time. I was expecting better than what you come up with. And don't forget to take that massive chip on your shoulder with you.
"Render us into the over-taxed, under-paid, overly-dependent, double-dipped recessive, rioting, unhappy and crime-ridden nation that you have become .." this is Grand Cayman. How long (if ever) did you live and work in the UK? Seeing yourselves as an expert at something you know nothing about only works on Caymanians.(mostly the voters) God forbid you ever see Your Cayman with the same eyes you look at the UK with. No CS job for you.
I know you find this hard to accept, but the real issues here are not about the UK, no matter how bleak a picture you chose to paint. They are only about Cayman for those of us who live here, including you, so this statement means nothing: "…many will lay the blame for our situation squarely on the shoulders of our inept Premier, however, many tend to conveniently forget to attribute similar blame on David Cameron, or even Barack Obama for that matter. "
Why is Bush less responsible for the total mess we're in just because others might be equally responsible in their countries? You call him "…incompetent enemy No. 1" yet still excuse him or maybe require us to excuse him, based on some non-existent standard of equivalency.
I am prepared to bet a large amount of money that you know no more than I do about the form of budget Bush presented to the UK. In the absence of any knowledge you still feel you can accuse the UK of acting against Cayman's best interests, based quite obviously on your deeply prejudiced view of history ( "prejudiced" is used here not to reflect inaccuracies in what you chose to focus on, but in the sense that you chose to focus only on the negative and lack any concept of balance). Question – do you believe Bush will have submitted a budget that given all the problems Cayman faces, would bear close scrutiny? Idon't and I doubt many do. If you do, please provide reasons – maybe we're all missing thepoint.
The only thing known for sure is that Bush has not been prepared in his 3 years in charge to take the hard political decisions required to bring financial discipline to government in all it's forms. His latest expat tax fiasco proves that he will risk fundamentally damaging Cayman's competitive edge in financial services just to avoid doing what he is so very well paid to do. Making the right but tough decisions.
And while you're so intent on highlighting the UK's problems, you miss Cayman's own. Here's a link to an article indicating the extent of the UK's welfare problem:
http://www.ibtimes.co.uk/articles/284983/20120120/britons-claim-welfare-higher-proportion-migrants.htm
The article suggests the total number of UK citizens claiming welfare benefits is 5.76m – lets call it 6m. That's somewhat less than 1 in 10 of the total population ( 65m ) of the UK. Ezzard Miller recently indicated that social services here are assisting 8000 people. Caymanian population at the last census, 30313, meaning somewhere around 1 in 4 Caymanians receive some form of welfare. You can play with the numbers, suggest not all 8000 are Caymanian, whatever, but you would need to eliminate 5000 recipients before you got close to the UK level. Not happening.
A quick search of CNS will give you an article stating that unemployment for Caymanians in 2011 was 9.8% compared to the UK's of 8.3% for 2011. And this in a country where there are 2 jobs for every Caymanian. Something is wrong, but I can tell you whatever it is has it's source or sources right here in Cayman.
What I really liked was your sarcastic suggestion that Cayman could handle a 25% unemployment rate in it's under 25 age group just as well as the UK, meant I am sure as an indictment of the UK and a sign of failure. I suggest you take a look at the census from 2010. On page 42 you will find a table showing the unemployment rate of Caymanians 15-24 as 25.1%. Want to bet this is higher now?
As for crime, Cayman's murder rate is close to 10 times that of the UK. I've posted support for this elsewhere on CNS if you need evidence. Anecdotally, my home city in the UK has 400000 people. In all the 50 odd years I have lived, not one of it's gas stations has been robbed at gunpoint. Here in Cayman there isn't one that I routinely use that has not been robbed at gunpoint in the last 5 years. I am much closer to violent crime here than I ever would be in my home town.
I am concerned only about what is happening here, the country I have lived in for over 30 years. Yes, I get defensive about my country of origin, but I accept it for what it is, warts and all. I recognise this characteristic in you, but unfortunately your attitude of constantly excusing what is wrong in Cayman by trying to point out that those same things are as bad if not worse elsewhere is a tactic which comes all too easily to just that sector of the Caymanian population that is leading us all to ruin and wish to maintain the very unhealthy status quo. You may feel better after you've posted one of your rants, but you haven't helped.
After the next election will we have a real premier
Yes, hopefully and not named Ezzard or Alden…sellouts.
Doubt it…….
Nahhhh I say let Jamaica or London keep him. I guarantee he won't be at townhall meetings insulting J'can's calling them little girls. It's only in Cayman he can pull that shit! In Jamaica he'd be walking with his dress perfectly ironed.
There are so many civil service positions that have a tier of multiple Caymanian managers that do little, while an individual govermnent employed foreigner does all the work beneath them. Its these people & positions that need trimming. That will get your budget expenditure down.
He is on the island. If you're going to make a claim, present your facts.
Why, Mac never does!
Well that makes a bloody change.
Why dont the Jordanian Strategist explain the budget to Mac?
He seems to know everything about everything…
Or even Foolio could re-shuffle the same 49 words that he uses to answer every question, to instead help Mac to solve the budget mystery?
…at the end of the day…at the end of the day! – Elio Solomon
You killing me-some people is too funny* ***** We will tax your pension so* at the end of the day *you will have another day to have the *opportunity* to contribute back into a *system* that allows you to have an *opportunity* and thats what the UDP is all about *opportunity*
Hon. Mckeeva stands up and adds * The future is bright for Cayman*
Elio "thank you Hon. Premier" I am going to hand the Mic. ovre to my *colleagues*
Minister Anglin " We would love to do things that way but you see we have considered it and its a difficult situation"
Minister Adam " Helllo fellow Caymaniannnnnss"
Minister Scotland* Crickets …..Frog sounds
Well I am talking shit because I just to a xanax to deal with the anxiety of the situation…So I am doped up now and worried about where my next meal is coming from given I work in the civil serive. We are all going to be reporting to work high fro ]m]]] now on
He must have picked that one up from Dr. Frank 🙂
He's worried about May 2013.
Anyone who understands international standards and the ECHR knew long ago that the UK would not and could not possibly approve a budget proposing a discriminatory tax. I was never fooled into thinking they might approve and always knew he would have to come up with an alternative in this regard – I thought his alternative would be to tax everyone and blame the UK. However, unlike our Premier, I am quite happy to admit when I am wrong – if it turns out I am wrong, as I still don't feel confident that we have reached a stable decision even now.
“When the date is known the real press will be notified,” he told CNS…
Well, well, what a surprise, he still can't resist having a dig at someone, and I suspect what fuels his disrespect is that CNS comprises of two very intelligent women!!!
or 'little girls'… 🙂
What a surprise!
And the next Darwin Award winner is…….McKewa Bush….for service to the Cayman Islands.
Wow.
http://www.youtube.com/watch?v=derikGAEE9g
How about we cut some unnecessary big wigs from the top. My department has two directors, oneof which who make additional salaries from internal projects, thats right, a base salary and then another for in house projects! And, hold on to your seats, this person is not even qualified for the position. Then we have a senior manager who sits around as her annual report come in just under a 30% success rate since being employeed(many years to date). And, guess what?!; the said director manages the said senior manager. If it wasnt true it would be funny. What they are good at is passing the blame to entry level staff as they ignore their duties as MANAGERS (vision and ingenuity seems hard to pay for in the CS).
Its so frustrating to see these people make a joke of the important work the department is capable of producing. But, alas, what to do?
Just try to wait it out. Like the premeir it is eating itself to death.
Duhhhhh, here’s a shocker, I think only Mac and his followers actually thought that this nonsense budget would have actually gotten approved,
Luckily the private sector and the Expat + Caymanian united group came up with a few proposals or we would have been further down the creek after the news today, I am sure Mac had no backup budget in the event the UK gave the first one the two fingers solute, and I am not talking about the thumbs.
LAst week he said it was either the tax or cutting the social services funding. So, now that they too have rejected the tax, how about cutting to vote-buying social service budget?
And now he does not like or respect the free press? Because they won"t propogate his lies? Starting to sound like Soviet Russia, Venezuela, Syria, Libya under Ghaddafi…it is clear he respects no one but himself and his bank account. Hopefully he will go the same way most of those have gone very shortly and without the bloodshed.
Keep up the good work CNS and the other free press outlets, you are getting to him!!
Imaginary cuts of spending increases still result in increases. Why not just hold spending to what was spent in 2011 or 2012. Not a cut, just stop the spending increases. This process is XXXX
MR BUSH will you PLEASE STICK TO YOUR GUNS. Stop flip floping all over the Place. Say what you mean and do what you say. London, I very much believe was very happy about the Expatriate Tax. Could you not see that now. I am becomming disapointed in you allowing these people to lead you by the nose. If they do not want to pay, then let them go to Bermuda and the Bahamas. They will have to pay more there. Caymanians are tired and sick of the Flip Floping,on and off the Table. STICK TO YOUR GUNS. Caymanians voted you in not them.
Still holding out for those "solar panels" eh?
'Caymanians voted you in not them.'
Very true, at last!!! So who made this mess….
I am struggling to be polite here…but how did you come to the conclusion that London 'was very happy at the expat Tax", we they have in fact rejected it. But you are right on one thing, Caymanians voted Mac in not expats and therefore he should listen to the Caymanian people who have overwhelmingly rejected this tax. You and your small posse DO NOT speak for all of us, and no where near it.
16:20 I believe London is very happy to tax you all from that Country because you hide away in Cayman making Tax free Millions. You do not want to pay anything in London that is why you ran out here and don't want to leave. The Business people of London know this. Then you show off flying British Airways every week attending to your big business in London from money made Tax free in Cayman. Get with the program. Pay up and stop hiding out here. Do you really think that Caymanians are not watching you all. Yes we are. Pay your Tax here or go back to your country.
errrr – anyone who flew back to the UK every week would probably be classified as resident for tax purposes and have to pay tax in the UK.
You so mean to me CNS
HAHAHAHAHAHAHA
Well done, if mac hates you you cant be so bad
Rejected by the UK and no more on the table… so now what? Do we wait to hear another direct tax solution?
I hear he was in Jamica for independance and now in London for the Olympics – how about staying here and sorting the affairs of this country out!
IS there anyway we can revoke his passport so he can't get back to the Cayman Islands? Perhaps Bermuda would like him over there? lolololo