The stability of the Cayman Islands
could be damaged internationally and locally by a public march against the Government
being organised by former PPM Minister Mr. Clifford.
The Cayman Islands has already
received damage from the excessive expenditure and borrowings by the last PPM
Government in which the United Kingdom stopped the present Government from further
borrowings in the future until certain conditions in Cayman’s public management
and finance laws were met. The PPM Government, not the UK is to blame for this
The PPM Government had to know that
their excessive borrowings could result in increased taxes and duties and sale
of public assets in order to comply with the requirements of the finance law
and meet repayments and interest payments on these large loans. They must also
have known that the two massive and very expensive schools and administration
building would be unfinished and the new government would be faced with further
large payments to be made to complete these unfinished buildings.
The PPM Government did not make
public any credible plan on repayment of these borrowings. What is the PPMs
solution to the financial crisis they caused? Why did they not follow the
advice given to reduce the cost of and do these projects in affordable stages
and within Governments means?
As if the last PPM Government has
not already hurt Caymanians and their children enough, Mr. Charles Clifford,
former PPM Government minister, now proposes a public march. This will further
hurt the Cayman Islands image and its people.
We suggest that what Mr. Clifford
should organise is an APOLOGY MARCH for the last PPM Government Ministers to
walk to the Government Administration Building and apologise to the Cayman
People for the excessive debt that their Government borrowed during their four
year term and do so once per month until the debt is repaid to an amount for
the local public management and finance law to be complied with.