Independent legislator Roy McTaggart has joined the People’s Progressive Movement’s government after being appointed a councillor for the ministries of finance and financial services.
Premier Alden McLaughlin announced Thursday that Mr. McTaggart, the former managing partner* of KPMG, would be putting his expertise in the financial services industry to work supporting finance minister Marco Archer and financial services minister Wayne Panton.
“Mr. McTaggart has said that after careful consideration, in the face of the threats to the Cayman Islands’ financial stability from a new round of tax compliance regulations and the challenges which the country faces with respect to its finances, he believed his professional experience would be better employed in a proactive way from the Government benches. He looks forward to serving the country and his constituents in this new capacity and remains committed to the role of independents within the government,” Mr. McLaughlin said.
The decision by Mr. McTaggart, a Coalition for Cayman-backed independent legislator, to join the government benches impacts the composition of the Public Accounts Committee, of which he was appointed chairman last week. Currently, the committee consists of four government members, including Mr. McTaggart, and one opposition member, McKeeva Bush.
Mr. McLaughlin said the committee’s membership would have to be changed “to ensure proper balance” and that steps to change the committee’s composition would be taken at the next Legislative Assembly meeting. Typically, the committee has a majority of opposition members with the chairman usually chosen from among the opposition benches.
With Mr. McTaggart’s move, there are now 13 government members, including Speaker of the House Juliana O’Connor-Connolly who joined the PPM last month following the general election, and five opposition lawmakers in the 18-member Legislative Assembly.
For more on this story, read Friday’s Caymanian Compass.