The current situation with regard to public sector
decision-making in the Cayman Islands must change, or we fear some in the
international business community will
get fed up and move their interests elsewhere.
The Cayman Islands and the UK Foreign and Commonwealth
Office in late 2011 signed the Framework for Fiscal Responsibility agreement
that set out certain guidelines on government spending, borrowing, procurement
and the like.
As part of the longer-than-normal budget process this year,
the UK required that document to be passed into law; presumably to ensure that
Cayman followed what it said.
The declaration was made in a statement from Governor Duncan
Taylor’s office Monday in no uncertain terms: “[Premier McKeeva Bush] also gave
the [UK FCO] minister an undertaking that the [framework], as signed in
November 2011, would be transposed into law that same week…”
Mr. Bush then vacillated on the issue: “At no point did the
premier indicate that the ‘entire [framework] as was signed in 2011 would be enacted
into law’.
Upon this curious statement, as of press time Thursday, the
United Kingdom government’s response was: nothing. Not a word about what would
appear to be a serious change in course from what was earlier agreed.
So all current businesses and potential investors are left
to wonder what exactly will be passed into law when (if?) the FFR or some
portion of it is voted upon by lawmakers?
We’re not sure who takes the blame for all this, but the UK
and the local leaders need to get it together now for the good of these Cayman
Islands.
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