In the run-up to the election we hear a lot about the need to ‘Take Cayman Back’. I have lived here almost 40 years and Grand Cayman is my home.
I fully understand people’s frustration with large corporations dominating the economy. I share their anger at the destruction of the environment and special treatment for favoured developers.
Better education is a must. It’s shameful that government-run schools cost more per pupil than private schools but deliver a worse result.
But what does ‘taking back Cayman’ really mean? Does it mean the denial of future work permits? Perfectly fine IF those jobs can be filled by local residents. But remember the revenue generated by those work-permit fees.
Does it mean a ban on the sale of homes to foreigners? If so, who will buy these $3 million-plus homes? Remember that the buyer of one $3 million condo puts in about $300,000 in stamp duty, which helps pay for local schools that non-Caymanian children cannot attend. How about just confiscating them from their foreign-born owners? Who would then pay to maintain them (electricity, water, yard and pool maintenance)?
The rich country we live in today is well ahead of other Caribbean islands. Let’s be careful not to lose what we have.