McLaughlin compares notes with Jersey counterparts

| 16/09/2013

(CNS): The new premier and leader of the PPM, Alden McLaughlin, said his trip to Jersey to compare notes on how that crown dependency has remained debt free was very worthwhile.  With travel by leaders a touchy subject with the electorate at present, McLaughlin, accompanied by Financial Services Minister Wayne Panton and backbencher Roy McTaggart, had added the Jersey visit on to his trip to Gibraltar and London for Joint Ministerial Council meetings with other overseas territories ahead of the main meeting in London in November. “Cayman, like Jersey, is a top-tier Financial Services Centre and we face common challenges and threats," the premier said on his return.

“We are looking at ways to work more closely together to deal with the issues of navigating the difficult waters of being international Financial Centres,” he added.

McLaughlin is not the first premier to visit the island; McKeeva Bush, as premier at the time, also went on a fact finding mission to the island in 2011 to discuss their public management and finance law and accounting procedures.

While in Jersey, the latest Cayman delegation also reviewed that government’s procurement process, as the localgovernment is still in the process of implementing new procurement legislation. The politicians also discussed the topical issue of immigration.

“Immigration, for them, as for Cayman, is a key issue and concern,” McLaughlin added. 

High on the list of items to discuss was budgeting. Jersey’s government sits for three-year terms and recently introduced the concept of a budget that covers the full three years.

“We looked at how that benefits planning and reduces time and energy instead of every year having to go through the full budgeting process,” he said. “It is something to consider.”

The idea for the meeting came in June when the premier met with Jersey Chief Minister Ian Gorst and Minister for Treasury and Resources Sen. Philip Ozouf. Prior to that, Minister Ozouf had been in the Cayman Islands in May as part of the UN Elections Observers Mission.

“He had a chance to see what Cayman did and he was hugely impressed by the state of Cayman’s financial industry,” said McLaughlin.  “We share the vision with Jersey being recognised internationally as a high quality, properly regulated jurisdiction that we are. The trip was a very useful exercise and I look forward to hosting Jersey for a reciprocal visit next year,” he added.

Jersey’s parliament is the States of Jersey, which consists of 51 elected members, far more than the 18 that comprise Cayman’s Legislative Assembly. The island is home to almost 100,000 people on a land mass of 45 square miles and is a leading offshore centre and one of the UK’s crown dependencies.

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  1. Anonymous says:

    Jersey has a broad electorate which helps minimise corruption.

  2. Anonymous says:

    Yeah Tara, please get your facts straight. There are NOT 20,000 unemployed Caymanians, that is the approximate number of work permits. There are roughly 2,000 unemployed Caymanians, and my bet is, 1,500 of those are unemployed for a reason. 

    Government has more than 2,000 expats on their payroll, and they do not have to advertise those positions or apply for Work Permits the way the private sector has to. 

    Lets see Arden and Ezzard fix that problem first before they talk about a broken work permit system. Losers!

  3. Cayman Rght Hook says:

    Yes you got that right CNS comparing notes thats about all they can do oh sorry travel too? "Difficult waters" don't make me laugh The PPM got more phrases and sayings than Quakers have Oats Threats The people iving in Jersey dont have to run to get in their front doors at night under hail of gunfire and bullets thats for sure. Stop wasting money on overseas trips.

  4. Anonymous says:

    Immigration maybe a concern, as it is for the rest of the free world, however it still employs the right person for the job.

  5. Anonymous says:

    I could have saved you the airfare. Do you want to put us on the path of long-term financial stability? Cut the bloated civil service! It is not sustainable and you know it.

    • Yeah Tara, where is my job? says:

      Cut the bloated Civil Service and train current civil servants to work in the private sector (enforce immigration laws) and oh yes, the greedy politicians would have to stop relying on permit fees and cut their operating costs.

      We need a lean government and companies should embrace hiring good Caymanians.

      Folks, it all comes down to our own politicians being our own downfall.  They build and borrowed until we were broke, open the floodgates for expat arrivals (I love expats, but with 20,000 unemployed Caymanians- the process is broken!!!)

      Politics fuel fools, period.

      • Anonymous says:

        20,000 unemployed caymanians!!…LOL…you mean 2,000…you see my friend this is why you can't get a job, cause you don't understand basic maths…I would have loved it though if you worked at a bank and add few thousands to my account!! ha ha 

  6. Anonymously says:

    Was the Southhampton Boat Show a part of this visit? If so  did  we pay ?