It’s still early days, but it looks like
our new government is mostly making all the right moves to push the Cayman
On Thursday, Premier Alden McLaughlin
announced the appointment of Roy McTaggart as a councillor in the ministries of
finance and financial services, to assist PPM government ministers Marco Archer
and Wayne Panton.
The appointment comes after Mr. McTaggart,
in the run-up to the 22 May election, had said he wouldn’t work with Mr.
Thankfully, cooler heads have prevailed.
It seems Mr. McTaggart is sticking to his
Coalition for Cayman’s motto: “Country First”.
“As days passed, I think they realised how
much work has to be done here to try to get Cayman back into shape financially
and also in dealing with the financial services sector internationally,” he was
quoted as saying.
Certainly his skills and experience as the
former managing partner of accounting firm KPMG can be well used to get the
Cayman Islands government back into financial stability.
Already his Coalition for Cayman colleagues
Tara Rivers and Winston Connolly have accepted government posts. Ms Rivers has
been appointed minister of education, employment and gender affairs, while Mr.
Connolly was given the role of a councillor for education and employment.
It’s refreshing to see Mr. McLaughlin and
the PPM government embrace these educated and intelligent independent members
into this new government administration.
While Cayman already suffers from financial
woes, a new round of tax compliance regulations and challenges face the
The Cayman Islands government anticipates
it will attend a meeting with the UK government in the run-up to the G8 summit
on 15 June to discuss trade, tax and transparency – the UK agenda for the G8
Summit. The meeting is also likely to address tax information exchange, company
secrecy and other financial transparency issues. Mr. McTaggart’s expertise
should help us sail safely through these treacherous waters.