UK OKs PPM’s full budget

| 01/10/2013
(CNS): The Foreign and Commonwealth Office has approved the new government's first full budget, which will be presented to Legislative Assembly on Monday 7 October, with the debate on the budget starting on the following Thursday 10 October, the premier's office has confirmed. Officials said that London gave its approval to the full 2013/14 budget today, Tuesday 1 October, giving the new administration over four weeks to ensure its passage and scrutiny by Finance Committee before the current emergency approved spending expires at the end of this month. “We have put in many long hours, thought and debate in bringing this budget together," Premier Alden McLaughlin stated in a release following the UK's nod for his government's spending plan.

"Once again we have demonstrated what can be achieved when a logical, credible and consultative approach is taken toward fiscal planning,” added McLaughlin.
Economic Advisor Richard Holmwood was in the Cayman Islands last week to review the budget with government officials who worked on the budget including Marco Archer, the finance minister, the financial secretary, Ken Jefferson, the director of the budget and management in the treasury, Ronnie Dunn, as well as the deputy financial secretary and Sonia McLaughlin, Michael Nixon, the senior assistant financial secretary alongwith other members of the Finance Team.
Mark Simmonds, the overseas territories minister, has now sent a letter to the premier agreeing to the government's annual fiscal plan for the full financial year 2013/14.
“I am writing to convey my agreement to your Budget, in line with the procedure we have agreed in the Framework for Fiscal Responsibility and to welcome the continued constructive engagement between the UK and the Cayman Islands Government,” he wrote in Tuesday's correspondence, the premier's office said, but the letter has not yet been released into the public domain.
McLaughlin said that the UK was again able to approve the Budget on its first submission. He said this was a testament to the hard work that his government put into its development, as he took aim at the previous administration, pointing out that this had never happened during the UDP's time in office, when the budgets had to be changed before the government was able to get the OK from the FCO.
In August the UK approved the government’s four-year fiscal plan covering the years 2014/14 to 2016/17 on its first submission.
The Budget Address, Throne Speech and Government’s Policy Statement is now set to be delivered at the formal State Opening of the Legislative Assembly on Monday, 7 October, with the wider debate on the addresses beginning on Thursday, 10 October, when members will begin debating the spending plan.
As part of the Uk's approval of the budget the Progressives administration has agreed to various ongoing commitments, including the continuation of the Budget Delivery Committee, led by the deputygovernor, no supplementary expenditure appropriations at the year end, enhanced financial management framework, adherence to the agreed temporary overdraft limit for seasonal swings in cash flows and no new long-term borrowing.
The premier told an audience of Chamber of Commerce members last week that with the exception of the introduction of previously planned directors fees, there were no new revenue measures in the budget and government was balancing the books by shaving a further $12 million from operational costs.
The UK continues to keep a close eye on public spending in its overseas territories, as it seeks to protect its own strapped public purse from having to bail out any dependency. Simmonds reportedly told the PPM government in his letter that the FCO, in line with the White Paper of 2012, stands ready to provide the Caymanian government with any assistance needed to help uphold its commitments.
The premier's office also revealed that Simmonds will travel to the Cayman Islands for the first time in November to further discuss the Progressives government’s plans for economic growth and public sector reform.
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  1. Anonymous says:

    It is, indeed, good news that a budget (aka plan) has been approved. It takes a lot of hard work to get such a result.


    However, the harder work comes in the future when the plan is executed. Execution is where the "real" action takes place.


    I hope the government can pull it off. I am very cautiously optimistic.

  2. Anonymous says:

    PPM well done

    It is encouraging to hear of the budget being approved. I am not a PPM supporter but let’s give them a chance, let us all remember that if they fails we all fail. Let us bond together and live loving giving praises where praises is due.

  3. And Another Ting says:

    Is it possible that playing politics is all he can do? And Another Ting.

  4. Knot S Smart says:

    Let the spending begin…

    • Anonymous says:

      Denied- Suze Orman !!! You cannot afford it – so please don't borrow beyond your means !! Denied !! Denied !! Denied !! Remember these words.

    • Anonymously says:

      Thanks PPM, but greatest respect to Hon Marco Archer, you got and continue to get my vote.  Job well done. Next issue to PPM jobs and crime preventation.

  5. Who the Cap Fits says:

    America too was colonized, and so were many others.  Our day will come soon enough, and I hope that whoever you are that you are here and that you dress up in white on the day that we lower the Union Jack, so I can personally get you to the aiport and give you a swift kick in ya no where and say hit the road Jack dont come back no more no more no   more!! and another ting

  6. Anonymous says:

    iF UK approved a budget on which they got everything they wanted and nothing that Cayman wanted – it's not a big deal. We do not know yet if what's in there is good for Cayman. Hold your horses please

  7. Anonymous says:

    the article says alden was taking aim at the previous administration.

    Why? is he playing politics already?

    • Anonymous says:

      So are you saying that any criticism of any govt. is "playing politics"? Be careful now, Bushite.

  8. Anonymous says:

    Yes, yes, yes, now my MLA will be able to get roads cleared and paved into property that they and strong supporters own – actually I mean my 2 MLA cause the second elected member for Brac is now a full-blooded RED PPM supporter (at least for now while they are still in power).  Remember CNS you heard it here first.  JOBS/JOBS/JOBS are available on Brac –  if you are a Jamaican go to the Jamaican doing work for lady southside – if you are a Filipino you need to check with the Filipino runs the pizza place and if you are a Honduranian you need to check with the "johnny come lately" Honduranian building houses for mostly Honduranians.  If you are a Caymanian you are ——- out of luck, only can work for these people if you want to make $5 or $6 per hour.      Lastly, be careful with SHEDART southside, once someone reports her to US for FATCA issues – the money stop flowing and she will be gone!!!!! May you all have a safe and pleasant day here in paradise

  9. Anonymous says:

    Looking good Mr Alden but the Health Services Authority  is set to spend millions in recruiting,overtimes,promotions within and bonuses.Stop this madness come on now!!!.We've gotten a hold of that hiring system and can now use it in a way that best benefits the Hospital and so it's a lower priority — not because it's unimportant, but because it's  a challenge for us right now.

  10. Anonymous says:

    Thank you Marco!

    • BLUE RAT says:

      First off great news but i am only cautiously optimistic. I will not give this Government my stamp of approval until they fullfill the promises made on the campaign trail:

      1. Put Caymanians back to work

      2. Reduce the out of control cost of living.

  11. Anonymous says:

    Encouraging and welcome news about the UK okaying the Progressives' full budget, so kudos to all involved as we await its presentation to the House and debate by our 18 elected representatives!    Fingers crossed that the end result will be the right one and that there is hope for Cayman's immediate and long term future.  

    In the meantime, it is worth noting that in his speech to the Chamber last week, the Premier said that "government was balancing the books by shaving a further $12 million from operational costs" – Well done, good job but surely our new Government by now realizes that the country’s books would be in an even better shape if more decisive thought and action were directed towards eliminating (or at least reducing by half) a few of the generous gifts Cayman cannot afford, such as the 100% import duty concessions on development and construction materials etc being brought in by those who can well afford to pay this duty.

    Just read this article —

  12. Anonymous says:

    What a difference the party makes…

  13. Anonymous says:

    Congrats!!!  Another way of assisting the government is to allow all work permit holders to pull all their pension contributions by the end of October.  They have expressed that they are willing to go home and do not extend their work permits.  This way the natives will have an opportunity to fill these positions that would become vacant.  

    • Anonymous says:

      natives alaways had an opportunity……. ever wonder why a work permit holder was was hired in the first place??????………………zzzzzzzzzzzzzzzzzzzzz

      • Anonymous says:

        No, Caymanians don't wonder about that at all. We know why and it is has little to do with the availability of qualified, willing Caymanians.  

    • Anonymous says:

      Economics Cayman style.

      So what happens genius when you pull all the expat cash from the pension pot. Considering expat labour makes up the majority of the workforce then the amount of money going in for investment must be coming from them?

      Wouldn't the withdrawl of so much cash put the pot in deficit and eventually deny Caymanian's a decent retirement income?

      Or would a better solution be to grow the economy so that expats and Caymanian's can both contribute, so expanding the pot and raising the income?

      The simple truth is the more that goes in, the more comes out. 



      • And Another Ting says:

        Did you uderstand teh point Mr. NO, the reference to the expats was to those 1,500 who Alden is holding on to.  And Another Ting.

  14. Anonymous says:

    The thanks here should sit squarely with Marco Archer. Without his hardwork and smarts none of this would have happened and we all know it.

  15. MacDumDum Blowhard says:

    Well I know one ting… I 'aint takin' no orders from a desk clerk in London.

    • Anonymous says:

      Ha, Ha, Ha, you don't have a choice bobo, this is a British Territory, not a Caymanian one. Live with it or move to Jamaica where independence has worked so well for them. Ha, Ha, Ha!!!! 

  16. Anonymous says:

    And on the first try. This is welcome departure from the pretend budgets and disrepectful comments directed at the FCO from the McKeeva led UDP government..

    Thank you PPM.

  17. Anonymous says:

    Alden seems to forget that it was his extravagant spending why we are in this position in the first place. Of course he can blame the UDP, he knows that the Cayman people memory short.

    Thats okay though. I supoprted the C4C the last time after years of being fed up with the UDP and the PPM. Now that the C4C has shown their true colors and have joined the PPM, its time for me to go shopping again. Its a sad day when you have to brag that the UK approved your budget. This man has no shame and clearly nothing to do. If the UK was giving us funds and asking us to account for it, I would understand. All they have given us is an expensive Governor, an incompetent police commissioner, and a bunch of expensive consultants. I would be curious to see if the Minister sits in the front of the plane or ride in the back like our backward thinking Premier.

    Alden, Mac, Roy, Winston, and Tara is a waste of space and time. God help us all!!!

    • Anonymous says:

      You're just jealous that the duds you supported made such a big mess of our island affairs. Sure glad the likes of you are not the majority any longer

      • Anonymous says:

        Yeah you idiot.  Wait until the PPM is finished with the likes of you.  PPM???? Really now!!!

        • Anonymous says:

          Can you have the intelligence to show some respect for your leaders please? We're just so happy mccracker didn't get a chance to finish with us.

  18. Whodatis says:

    This would actually mean something if the UK hadn't lost all credibility when they suddenly had a change of heart and ok'd (the same) CIG's plans the minute we replaced McKeeva with Julianna.

    Anyway … let us dance the dance, shall we?


    • Anonymous says:

      Troll, troll, troll-lol-lol, troll-lol-lol-lol;

      Troll, troll, troll-lol-lol, troll-lol-lol-lol.

    • Anonymous says:

      Yea, great isn't it. For all your whining Whodatis, you still have to tow the line. Of course you could surrender your BOT, CI passport and really make a stand against the evil empire. London will be heartbroken to see you go, but at least you won't be able to leave this rock that you love so much.

      You'll never see independence in your lifetime, the UK knows that you are an insignifcant minority and won't play your game. You can't get the country straight now with 400 police officers, lines of over inflated Civil Servants and the wealthiest economy in the Caribbean. What would you do with independence, turn into Jamaica? 

      Oh well, you'll just have to remain bitter and twisted.

      I love that thought.

      • Whodatis says:

        Oh dear.

        I really hope you are not one of our expats because I shudder to think from what utter hell you escaped only to end up in this better reality known as the Cayman Islands.

        In any event. welcome.

        We trust you enjoy your reprieve here with us … oh what your eyes must have seen.

        Rest now, my child. Rest.


        • Anonymous says:

          Anyone else noticed Whodatis is not putting in as much effort nowadays?  This was lame.

  19. Anonymous says:

    Now, what on earth will Whodatis make of this one?

    PPM lackey dogs of the UK criminal regime?

    This is all the result of Tony Blairs alleged war crimes?

    Or will he just be appreciative of my comments (thinking that all I think about is him) but not that he is so predictable that you just know he is going to say something bad about the UK here.

    Or maybe he will surprise us all and say "look, you can have a constructive relationship with the UK!". Nah, that ain't gonna happen.

    • Whodatis says:

      Why are you so paranoid and concerned over my views on the UK government?

      Can you not stand on your own 2 feet and make your point?

      I do so on every occasion without the slightest care of another's opinion.

      Try it sometime.

      Anyway, it is impossible for anyone to have a genuine "contructive relationship" with an entity that outrightly states that its own interests are paramount and final as it regards said "relationship".

      Lastly, it is a joke that the UK believes it is qualified or worthy to guide any country in financial or economic matters. Considering their state of affairs – would you feel confident by way of their endorsement of our latest budget? I surely don't.

      In any event, they did not do the work – my fellow Caymanians did.

    • Anonymous says:

      Sounds to me like all you're thinking about is him…LOL

  20. Anonymous says:

    OK, Sound good on the surface, Now let the public see the details..It would be easy to get thier approval if we simply agreed with everything they demanded..Is this the case or did we have any say.