Cayman Islands Premier McKeeva Bush said Tuesday that he was hopeful a full-year budget could be produced and brought to the Legislative Assembly by Friday.
Mr. Bush made the announcement on talk radio Tuesday afternoon and his statements were later confirmed by his press secretary, Charles Glidden.
Mr. Glidden said, if the United Kingdom responded favourably either Tuesday or Wednesday to Cayman’s budget plan, Mr. Bush had noted that it was his hope to have a budget to the assembly by the end of the week.
The Caymanian Compass received no indication there had been any response from the UK to the country’s budget by late Tuesday.
Premier Bush had earlier proposed a $592 million spending plan. However, that included proposals for a 10 per cent payroll tax levied against work permit holders salaries; a plan which has since been scrapped.
The earlier budget was rejected by the UK anyway, with Foreign and Commonwealth Officials noting that Cayman still needed to make significant cuts to expenditure for the 2012/13 fiscal year, which started on 1 July.