We see large contracts signed by Government for the schools, the administrative building and other projects even before the Government has borrowing commitments from banks to finance them.
While the building of schools is commendable the cost is far more than what good schools can be built for and therefore many millions of dollars of the public’s money is wasted.
The cost to operate them will be huge. The same goals can be achieved with much less.
A person can drive from George Town to East End in a Rolls Royce or an ordinary car.
Both do the same job but the Rolls costs much more to purchase and operate. If a minister wants to spend his private money on a Rolls, so be it, but do not waste the public’s money especially when it is borrowed money that the public must repay long after the spending Minister has gone.
The next Government can only carry out PPM’s and UDP’s Government projects and will have to borrow the money to finish these over expensive projects. Cayman’s economy will be crippled and inflation will remain high and the poor will get poorer by the excessive debt repayments and future commitments on contracts which the Government has committed the people to.
Four future governments can do little more than raise taxes to repay PPM and UDP governments debts. This is what has happened in other Caribbean Islands under the party system and leads to independence of an impoverished country ultimately.
Government should be tightening its belt rather than massive spending in these difficult financial times worldwide.
Stop the excessive borrowing.
The Government and especially the ministers are trustees of the public’s money and should not squander it.
The public’s judgment day on the PPM and the UDP will be in nine months time and our children’s future will be an important part of that decision.