Name: Roy McTaggart
District: George Town East
CANDIDATE IN THE NEWS
The Cayman Islands Legislative Assembly unanimously approved a two-year spending plan Wednesday that includes nearly $2 billion in anticipated revenues and just more than $1.8 billion in public sector expenditures during 2018 and 2019.
Cayman Islands Finance Minister Roy McTaggart on Monday rejected opposition lawmakers’ claims that a $135 million, two-year projected budget surplus was a “duppy” (ghost) and that his government’s budget did little to help the ordinary Caymanian.
The “cost” of the Cayman Islands government’s debt, what it either has already paid or is due to repay in interest and principal amounts between July 2015 and December 2019, is more than $443 million, according to a review of publicly available budget records.
Higher-than-expected earnings related to land transfers and vehicle/petrol imports boosted the Cayman Islands government’s earnings during the budget period that will end Dec. 31, Finance Minister Roy McTaggart said Friday.
Plans for an influx of 75 new police officers, a $9.6 million cash injection for education and funding for a series of major infrastructure projects were among the key commitments announced in the Cayman Islands government’s budget presentation Friday.
For Finance Minister Roy McTaggart, work on the government’s budget began almost immediately after the May election.