Topic: Finance Committee
Cayman Finance funding questioned
During the 17 Nov. session of the parliamentary finance committee, MP Chris Saunders questioned the $1.375 million annual government funding allocated to Cayman Finance.
40,000 temporary work permits processed a year
Immigration Minister Michael Myles says the processing of temporary work permits is getting out of hand, with Workforce Opportunities and Residency Cayman dealing with up to 40,000 applications a year, leading to delays in the granting of full work permits.
Commissioner wants ‘complete refresh’ of community policing
Lawmakers have approved a $74.3 million budget for police, coast guard and regimental services for the coming year, an increase of nearly $15 million compared to what was originally budgeted for 2025.
Major upgrades coming for Cayman’s National Weather Service
Finance Committee approves funding to complete the new National Weather Service building and upgrades to the radar facility.
MPs vow to tackle growing number of illegal businesses
MPs promised to tackle the increased number of illegal pop-up businesses on island, with Premier André Ebanks suggesting a taskforce "with teeth" to address the problem.
NiCE programme to be ‘stepping stone’ to full-time work
Commitment to a scheme to give jobless Caymanians work in the run-up to the festive season has been underlined in parliament
New affordable housing blueprint on the way
A road map for an affordable and sustainable housing policy will be tabled in Parliament this year, MPs have heard.
Farming grows independence, minister says
Growth in the farming sector and increased food security are vital to the future of Cayman, a minister has said
MPs to look at bridging the ‘dignity gap’ for ex-wives of seafarers
MPs are to look at ways to support Caymanian ex-wives of seafarers and veterans who might miss out on financial support due to divorce.
Commissioner: Public safe despite police staffing shortage
The public is no less safe as a result of low police staffing levels, according to Commissioner of Police Kurt Walton.
Government and opposition MPs clash over disappearing deficit
Government and opposition politicians clashed over government finances in the recent sitting of Parliament's Finance Committee as questions were raised about how a projected $60 million deficit could turn into a $10.3 million surplus forecast in just two months.
MPs asking for an additional $108 million in spending
Government is requesting $108 million in supplementary spending covering a range of sectors including education, communication, financial services, social development, tourism and health.
MPs vote $45M in new welfare funding as cash runs out
Government has approved $45 million in new welfare funding after it emerged it would have been unable to pay its bills.
Government approves extra $2.6M to expand Radio Cayman
Government has approved an additional $2.6 million to upgrade Radio Cayman's building and equipment, expand its staff, and offer new video and digital content.
Government approves extra $51.8M in spending, as surplus shrinks
The government on Friday approved an additional $51.8 million in spending for this year, as it announced that its expected surplus for 2024 had fallen to $16.5 million, which is $28 million less than originally budgeted.
Government budgets $30M for loss-making Cayman Airways
Cayman’s national flag carrier has once again been awarded a substantial allocation in the government’s budget for 2024 and 2025 to run its domestic and international flights.
Government denies misuse of Environmental Protection Fund
The Ministry of Finance has insisted that any use of the government’s Environmental Protection Fund is valid and lawful.
$30M healthcare budget for indigents unlikely to cover costs
Government has budgeted $30.6 million to cover the costs of healthcare for uninsured or underinsured Caymanians in 2024, a sum that politicians agree is unlikely to cover those expenses.
Future of governor’s residence will be a ‘big political decision’
While Governor Jane Owen says there has been no detailed discussion on moving her out of Government House she is will accept whatever decision is made when it comes to the official residence.
Petrol buyers are being ‘ripped off’, says independent MP
OfReg needs to work harder to determine the quality of petrol, according to independent MP Chris Saunders, who said people are currently being “ripped off”.
Mental health facility still awaiting occupancy licence
The long awaited Poinciana long-term mental health facility has not yet received an occupancy licence and is still undergoing inspections by the Building Control Unit, according to Health Minister Sabrina Turner.
MPs propose review of National Conservation Council’s oversight
A conversation on planning applications this week saw MPs strongly suggest that the National Conservation Council’s powers in the process are excessive.
Premier predicts just $3M surplus for 2023
Government expenditure is expected to be just $3.3 million less than government revenue this financial year, Premier Wayne Panton has said.
Finance Committee approves $68M in additional spending
Cayman’s Finance Committee has given the rubber stamp to the government to spend an additional $68 million this financial year.
The ties have it: Panton stays as premier with PACT intact
While the PACT government remains tightlipped about the sudden resignation of its border control and labour minister, Dwayne Seymour, and speculation about dissention within its ranks, it presented a united front, at least aesthetically, on Tuesday, with most members wearing pink to Parliament.
Government foots $73M medical bill for uninsured Caymanians
The Cayman Islands government paid almost $72.7 million to cover healthcare costs of uninsured indigents, veterans and seafarers last year, $39.7 million more than had been originally budgeted for the year.
CINICO to offer wider coverage options this year
CINICO plans to roll out expanded health insurance coverage later this year, before making those offerings available to local retirees six to nine months later, the company's chief financial officer told lawmakers this week.
CUC: Higher usage, not rising fuel rates behind bill increases
The Caribbean Utilities Company Ltd. says more use of air conditioning as the summer temperatures rise is behind the higher electricity bills many in Cayman are seeing this month, rather than any substantial increases in fuel rates.
COVID testing cost Cayman a million dollars a month in 2022
Cayman spent $12.1 million testing for the COVID-19 virus last year, five times more than the original budget of $2.4 million, lawmakers heard this week.
More than 3,200 workers still receive tourism stipend
As of May, 3,202 tourism workers who lost their job during the pandemic were still receiving a monthly government subsidy.
CINICO receives $5.35 million for insurance product expansion
Parliament’s Finance Committee has approved an extra $5.35 million to fund CINICO’s expansion into property and casualty, motor and new health insurance products.
Tourism director: Holiday airlift to Cayman ‘difficult’ but 2022 visitor targets remain achievable
The tourism industry is on track to return next year to about 40% of the stayover visitor numbers of 2019, but tourists may find it difficult to get a plane ticket to come here for the festive season this month.
Parliament approves more funding to address storm damage
Members of Parliament on Wednesday approved additional government funding to help homeowners and farmers impacted by Tropical Storm Grace.
Poll: MP Salary Increase
Members of the Finance Committee have approved spending relating to salary increases for MPs, which was initially introduced by the Progressives government's Cabinet in February this year. Do you agree with the decision?
Finance Committee approves pay increases for MPs
Members of Parliament have voted to increase their salaries and constituency allowances, which were originally approved by the Cabinet of the Progressives government earlier this year, at a meeting of the Finance Committee on Monday.
Farmers’ grants stopped in May, programme under review
Parliament’s Finance Committee has approved $500,000 extra funding to pay retroactively for a farmers’ grant programme that was discontinued in May.
Finance Committee approves extra $27.5 million to continue tourism stipend
Parliament’s Finance Committee has approved $27.5 million in additional funds to continue the payment of a stipend to displaced tourism workers until the end of the year.
Anti-gang committee set up
Authorities have set up a committee to address gang violence in the Cayman Islands, Commissioner of Police Derek Byrne told Members of Parliament Monday.
Healthcare, judicial costs require additional government funding
Government’s decision to pay full health insurance premiums to CINICO has resulted in the need for additional funds for the budget years 2018 and 2019.
Cayman’s record budget gets go ahead
Government's more than $1.5 billion budget, the largest ever for the Cayman Islands, gets the go ahead.
Final cost pending for John Gray High School project
The final projected cost for the John Gray High School project is still pending as negotiations are still in progress, Education officials have said.
Lawmakers flag absence of acute services in $15m facility
Legislators flag the absence of acute services in the $15 million long-term residential mental health facility project.
Concerns over rising work permit numbers
As many as 10,000 new work permits could be granted within the next year, according to Cayman's leaders.
Immigration officials expect the number of permits...
Coast Guard staffing to get boost
Government will be moving to increase personnel assigned to the Cayman Islands Coast Guard in the new year.
Police Commissioner Derek Byrne, speaking in Finance...
Number of vehicles continues to rise
Ministry of Commerce, Planning and Infrastructure officials said they may require some 20,000 more licences next year, which could lead to a total of 45,000 licensed vehicles on Cayman’s roads by the end of 2020.
No road closures granted yet for carnivals
Police Commissioner Derek Byrne has said he is yet to give road closure permission to Batabano and CayMAS.
Premier: Port referendum “uncertain”
Premier Alden McLaughlin has said the 19 Dec. referendum is now uncertain given the legal action taken by the National Trust.
116 work permit probes to date
More than $289,475 in administrative immigration fees have been levied for 116 work permit offences for 2019 to date.
Gov’t shelves public broadcasting TV plans
Government is no longer considering the transition of Government Information Services TV (CIGTV) to a public broadcasting station.
Airport cost overruns come under fire
Legislators question cost overruns in airport expansion project.
US$261m bullet bond to be paid off Friday
Government will pay off its US $261 million bullet bond Friday.
Finance Committee’s scrutiny of $1.5 billion budget starts Wednesday
Lawmakers will begin delving into government’s $1.5 billion budget line by line on Wednesday after the fiscal package got the greenlight in the Legislative Assembly Monday night.
Harris: Cayman has more cars than people
Residents of Grand Cayman can expect much longer traffic delays and even greater road congestion if government does not act quickly, warned Prospect legislator Austin Harris, speaking Thursday before the Legislative Assembly.
Legislators approve $92 million in additional spending for 2019
Government will spend roughly an additional $92 million this year after lawmakers approved a raft of extra expenditures during three days of Finance Committee hearings that started Friday and wrapped up Tuesday.
Legislators question delays in CCTV system upgrade
Questions have been raised over the slow pace of Cayman’s planned CCTV upgrade. So far, less than 25% of the cameras have been switched for higher definition, higher resolution models – around two years after money was allocated for the project.
Iguanas, healthcare costs take toll on budget
Government has voted new funding of $1.9 million for a massive, islandwide iguana cull and $6.5 million to help cover the healthcare costs of uninsured patients.
More money provided for poor relief
The Cayman Islands government is plugging an additional $2 million into the poor relief budget this year, fearing the current funding provided for some of the public welfare efforts will run out by next month if more money is not provided.
Civil service considering a clampdown on ‘job hopping’
The Cayman Islands government is reviewing employment rules for non-Caymanian workers that often do not strictly prevent those employees from switching jobs in the midst of a contract.
Premier: Businesses’ use of temporary work permits ‘not objectionable’
A long-established, although perhaps unspoken practice, of Cayman businesses which employ foreign workers that allows the companies to “test out” employees before bringing them in on full work permits has been green-lighted by Premier Alden McLaughlin.
900 arrested for immigration offenses
More than 900 arrests have been made since July for various immigration violations related to staying or working illegally in the Cayman Islands, Immigration Department officials confirmed Tuesday.
Government hit with $24 million in unexpected added costs
The Cayman Islands government was required to spend an extra $24 million in largely unanticipated, supplementary costs over the past two fiscal years.The expenses were detailed by Finance Minister Marco Archer in a statement to the Legislative Assembly Friday.
Cayman Airways climbing out of $50 million debt
Once saddled with burgeoning “historical debts” of around $50 million, it appears Cayman’s national airline may finally be climbing out of a debt spiral that had threatened its operations in 2009/10.
31 civil servants on paid leave
Thirty-one Cayman Islands civil servants are on suspension with pay over various issues, including criminal allegations, Deputy Governor Franz Manderson confirmed Wednesday.
$6 million allotted for land conservation
The National Conservation Council has welcomed the allocation of $6 million from the Environmental Protection Fund to buy up land to create protected areas.
$13 million for seamen, veterans healthcare
The Cayman Islands government has budgeted to spend more than $13 million a year to cover 1,075 retired seamen, former veterans and their widows, according budget records.
CINICO reports home care ‘fraud’ to police
The Cayman Islands National Insurance Company has reported a case of suspected fraud in its home healthcare program to police after a patient who was supposed to be receiving the care said that had not happened.
Government gives IMF center US$520,000
A US$525,000 payment in the upcoming budget to a technical assistance organization managed by the International Monetary Fund raised some eyebrows during Tuesday’s meeting of the Legislative Assembly’s Finance Committee.
