Budget passes through LA
(CNS): The government has finally completed the long-awaited and most controversial budget in the country’s history after legislators completed Finance Committee in a matter of days and voted on the 2012/13 Appropriations Bill. The governor or the acting governor must assent to the bill before the end of business on Friday in order for the government to be able to function after that date, however, since the UK has offered its conditional approval to the spending plans, it is expected to be signed. With government now hoping to raise some $650 million over the next nine months, legislative changes will be required quickly to enable government to collect the new fees.
Following the vote, Ezzard Miller, the independent member for North Side, said he was still sceptical that government could collect the targeted revenue.
“I do not believe there is any way in the current circumstances for government to collect $650 million from the economy,” Miller said. “What happens when the economic advisor makes his trips back to the Cayman Islands and finds that the revenue and spending is not on track?” he asked, pointing out that, with no room for supplementary appropriations under the conditions imposed by the UK, the government could find itself in real difficulties.
The independent MLA said that the requirements imposed by the UK would tie the hands of all future governments because of the incompetence of the UDP government and its failure to fulfill the promises it had made to the UK over the last three years when it came to cutting spending and producing balanced budgets.
The Foreign and Commonwealth Office (FCO) was not necessarily being unreasonable, Miller added, noting that the original three year plan which the government failed to follow was established by this administration and not the UK.
“This was the government’s plan, not the FCOs, and it was government which failed to do the right thing,” the MLA added, pointing to the continued increases in spending year on year including even this year. While the UDP administration is claiming significant cuts, Miller noted that government spending has increased by more than $30 million.
The premier revealed in his statement this week that the Public Management and Finance Law (PMFL) and the Public Service Management Law (PSML) would be amended to re-centralize the financial and human resources functions of government to cut costs.
This should have been done more than two years ago, Miller said, noting that his motion on this issue was rejected by government on the grounds that it was already in the process of amending the relevant legislation.
Category: Politics
Said it before and will say it again – why is Government allowed to post such a massive profit ?
Income collected $650 million. Expenditure what $580 million? Profit $70 million…. Thats about 12% profit – how is that fair?
Population what …50k – thats around $1200 per person extra… sound fair ? Call it $2400 per person if you only include the native population….
Goevrment is not a private company itis not there to make profit, post dividends etc – if it has a massive surplus then it is taxing too much !
That is not profit. That is to start to pay off our massive debt.
Now can we get our funding for College? or did they take away the Nation Building Funds from us too? We need to know asap! Our classes starts Sept 4th and we have no funding.
THANKS MAC, Ezzard and Arden soonb come around. Dont take Ezzard onboard. Arden, he to harden.
Here we go again , more people to leave the Island , just cant afford this, We are not living anymore , we are existing. Thanks UDP.
Cayman by far is not without its share of issues however, leaving the island is not going to solve anything. There are few places if any in this world that is in a better financial position than the Cayman Islands at the moment. Certainly not the USA or the UK. The World is in a recession and soon to be a depression this is not a UDP or PPM fault. Everyone the world over is just existing. What we need to do is stop the unnecessary spending and demanding and expecting too much from our government. We need to stop asking for handout and freebees because the free ride is over. Unlike the rest of the world this country still have jobs, our government need to stop depending on work permits to generate revenues to assist able bodies people, provide jobs for Caymanians, let the monies stay in the country.
I can hear clearly where you were educated
Yup, I left Cayman several years ago.
Cayman is a great place to live but the financial numbers don't work.
I am way ahead financially in a country where I pay income tax.
We did the same. It was a good move for us finacially and otherwise. I was tired of the incompetency you had to deal with when you needed to go through government to do anything and spending so much for so little. We will come back when some intelligence is injected into the Cayman system to visit the beaches and friends.
The Premier need to take a page from the late JM Bodden book and do what he knows is in the best interest of the Country and let the chips fall where they may. This is the way to run any successful country. During the reign of the late JMB these islands were much better because he would not allow himself to be pushed. He understood that it is impossible to please all of the people. Mr. Premier just do what you have to do as long as it's within the law. Forget the blogs and negative press you will get that anyway. Caymanians elected you to do what is in their best interest and if you continue to do so you will be returned to office. Caymanians were always people of integrity, law and order. We were never the people of give me or I want and need mentality. We are people who want the best for this country we want to see this country prosper and when it does we know that ALL of us will. I don't want any handouts, I want prosperity for this country and all its citizens.
The late JM Bodden also personally drove the bulldozer that knocked down Fort George, our best historical monument, and became a National Hero with a statue. Mr WM Bush is also driving a bulldozer and knocking down the entire Cayman Islands so we can expect a second statue in the near future.
You are a very clever and truthful person. If I had another country likewise I would be right behind you. Unfortunately I have no where else to go. Maybe you would be so kind to give some details on how to migrate to where you are and have about 15,000 follow you there.
Wow! A Caymankind Budget. What a surprise. NOT! Who not on the CIG payroll did not see this coming?
Where will the government find $650 millions in 9 months? Please cut the CS and reduce spending, handouts and concessions. Another suggestion would be to allow all the people who qualify and want PR and Status to have it as they are already here working, living, spending. Allow the Chinese to build and operate the cruise dock and bring in people to live, work and develop buisness here. The Chinese will rent our apartments, buy homes and properties and open business. China has invested billions in the US economy why don't we allow them here to grow our economy? They have the money to help this economy. The Cayman economy is performing very well, we are still one of the top financial jurisdictions. Many investors still find Cayman attractive and want to invest here we need to relax some of the laws in doing business here. Keep Cayman Tax Free and Expat friendly and the financial miracle will continue.
just bring in tax then we can go back to being the land that time forgot once everyone's left.
We, the elected members of the L.A. do hereby pass the budget which the U.K. has imposed on us and on which we have no control over due to our past incompetence
"While the UDP administration is claiming significant cuts, Miller noted that government spending has increased by more than $30 million."
And McKeeva has the nerve to call the media liars.
Where is he going next week and where is Juju going the week after that?
Does this mean that government can pay there outstanding bills?
You have no chance until after the election!!
“There outstanding bills” or “their outstanding bills”? Just asking…..
This is how he will do it, dormant bank accounts will be those not used in over a week. I wonder how much was stolen for the one year dormant accounts?
I love how they took civil servants COLA but voted themselves increases in their personal emoluments budgets…
I am shocked to learn from the post at 13.12 that MLAs have an increase in their personal emoluments budget. Did this mean an increase for them personally or for their staffing budget. Where can I find details? The budget doc is not user friendly.
CNS posted the budget and approporaitions bills in previous stories
Total rubbish budget – why dont caymanians elect some educated people with actual successful economics experience ?
And morals and a conscience!
Duhhhhhh, 'cause those sort of people do not put themselves forward!
There was once a time when I would never had said this but yet again, I find myself in recent months agreeing wholeheartedly with Mr Miller's sentiments.
This is the kiss of death for Cayman – it has priced itself out of the market
Finally, it has passed through the LA. Time to see how things roll on from now until the Election.
CNS: Hi Zelda – can you register please if you use your own name. You can register (and subsequently log in to comment) using the links directly under the comment box, or in the log-in box at the bottom of the LHS column. You should be logged out automatically when you close your browser. Thanks!
Prediction: revenue will fall below projections, spending will exceed predictions, and McKeeva will continue to blame everything under the sun other than the premier/ minister of finance.
But we won't know until the end of the financial year 30 June, 2013, in other words AFTER the next election.
I thought FCO wants quarterly reporting…this should be hilarious
Even then we will know nothing for sure.
The books are still not auditable.
Finally!
Keewa go waycation!