Petrol duty to increase
will raise import duties on petrol, increase its total public sector
more than $623 million and plans to end its next budget year with
McKeeva Bush’s $510.3 million spending plan is slightly more modest than
budget his government rolled out last October and calls for further cuts
Mr. Bush said there were signs that the world economic spiral that has
Cayman hard since the last quarter of 2008 was beginning to ease up. He
the local economy should reap the benefits if it was in a position to
is a new dawn,” Mr. Bush told members of the Legislative Assembly during
Tuesday’s budget and policy address. “But we must not forget that the
reaches us with a delay.”
proposed increase in import duty for gasoline and diesel fuel was
take effect in July – next month – and will raise import duty on both
gas and diesel fuel by 25 cents per gallon.
increase was proposed to take effect only in Grand Cayman and Little
Cayman. Mr. Bush said Cayman Brac would be spared the increase.
revenue measure, the only major one proposed for the 2010/11 budget,
expected to raise $10.3 million within the next year.
number of cuts in the civil service will take effect on 1 July,
including a 3.2
per cent salary decrease. Mr. Bush said all legislators would take a
corresponding 3.2 per cent cut in pay, except for himself and Opposition
Kurt Tibbetts who would receive a ten per cent salary reduction.
see the full story in Wednesday’s Caymanian Compass…