2014 New
Year’s Message
Premier Hon. Alden McLaughlin,
MBE, JP, MLA
Grand Cayman, Cayman Islands, 1
January 2014
My
fellow Caymanians and residents,
I trust that, as it did for me,
the past Christmas season has given each of you an opportunity to pause in the
midst of the rush and press of your busy lives, to relax a bit and to reflect;
to spend some time with family and friends and to consider God’s goodness to
each of us and to these Islands over the course of the past year. Now, as we
stand on the threshold of a New Year we have stretched before us, like a blank
canvas, 365 days of opportunity and promise. This is always a time for
optimism, for regardless of the failures, disappointments and grief of the past
year – the advent of the New Year brings with it hope and the prospect of success
and better times. So whether your aim is to lose weight, go back to school,
save more money, get that promotion or achieve some other goal, now is the time
to commit to doing what is necessary to make it happen. Now is the time for
resolutions. Now is the time for fresh starts.
As a country, the Cayman Islands
made a fresh start following the elections in May of last year with a new
government. Given the experiences of the past decade of Caymanian politics, I
was convinced that what the country needed was a government that represented
the widest possible cross-section of the Cayman community and that utilized, to
the greatest extent possible, the education, skills and experience of all those
that were elected, regardless of whether or not they belonged to my party. The
result has been an inclusive government made up of an extraordinarily talented
team of Caymanians whom I have the honour and privilege to lead. Although many
of my team were new to politics and the business of government–and the learning
curve has been steep – our government has settled in well. Indeed, as the past seven months have borne
out, our government has tackled and successfully dealt with a number of
difficult issues that had remained unresolved for many years. Today, as we welcome
a New Year, we can look back with some satisfaction and pride at the
achievements of the first months of our term.
From the outset we worked hard to
restore confidence in government and in the Cayman Islands as a whole because
we understand that confidence is the currency of investment. Investors want a
business environment that is fair, honest, transparent and predictable and
where the principles of good governance are practiced.
We have striven to repair the
relationship with the United Kingdom. I see nothing to be gained and much to be
lost in an adversarial relationship with the mother country. Contrary to the
views currently being espoused by some other politicians, I do not believe that
talk of independence is what the Cayman Islands wants or needs at this
juncture.
We were able to get both our
interim budget and our full year budget approved on first submission to the
United Kingdom, something that had not been achieved in the previous three
years. We also reached agreement with the UK on a four year financial plan for
the entire term, which will put Cayman back in compliance with all the
requirements of the Public Management and Finance Law by 2016.
This year’s budget provides for a
further reduction in government expenditure, the paying down of a significant
amount of government debt, no new borrowings and projects an operating surplus
of more than $100M.
While there remains much to be
done, we are confident that we are well on the way to getting government
finances back on track.
We have been keenly conscious
from the very start of the need to get the economy moving again and to get more
of our people back to work. The measures we have taken so far have improved the
economy and more Caymanians are being employed.
We have succeeded in making
important amendments to the Immigration Law, which have had the effect of
making Cayman a more attractive and competitive jurisdiction in which to do
business as well as streamlining the process by which Permanent Residence is
granted to desirable persons who have resided here long-term and have made the
necessary commitment to the Cayman Islands.
We have continued to protect and
promote our financial services industry notably by enhancing the Cayman
Islands’ reputation for transparency by signing Tax Information Exchange
Agreements with three new countries including the UK and the FATCA agreement
with the United States.
We believe that investment in
infrastructure such as the proposed new cruise berthing and the expansion of
our airports is critical to the continued development of the Cayman Islands and
our key industries. And that is why we have already started work to move these
projects forward. All indications are that the number of cruise ship visitors
is set to increase to more than 2 million per year over the course of the next
few years. We must take the necessary measures to accommodate this expected
increase and this means significant improvements to the city centre of George
Town, including the road infrastructure. The Owen Roberts airport can no longer
comfortably accommodate the number of arrivals at peak times and the quality of
the visitor experience is unsatisfactory. Both the Charles Kirkconnell
International Airport in Cayman Brac and the Little Cayman airstrip are in need
of upgrades. Government is not in a position to borrow for these projects and
we are therefore pursuing the development of public-private partnerships in
order to deliver these important infrastructure projects.
There has been a great deal of
interest in Cayman by investors since the elections and there are exciting
prospects for the commencement of a number of new projects in 2014 ranging from
three new hotels to a golf course and complete golfing community. In addition,
the Government will continue to support and promote key private sector
developments such as the Dart hotel and Cayman Enterprise City and we look
forward with great anticipation to the completion and opening of Phase 1 of Dr.
Shetty’s Health City in February.
The interest we are seeing in
investment in Cayman is both a reflection of the renewed confidence in Cayman
as well as positive global outlook. The economies of Europe, the UK and the
United States are now clearly on the rebound and all stock markets the world
over have finished the year with significant gains. As we start 2014 the
prospects for the world economy are much brighter than they were a year ago and
Cayman too is poised for significant economic growth and development, bringing
with it more economic and employment opportunities for the people of these
Islands.
I truly believe that the future
of these Islands is bright. There is a sense of optimism about Cayman this New
Year; a feeling that the worst is behind us and that 2014 will be a good year.
There is a new spirit of unity, a sense that all of us–Caymanians and
residents, visitors and investors, government and private sector, government
and opposition – can and will work together in pursuit of what is best for
Cayman.
Never was this more evident than
just before Christmas when all members of the Legislative Assembly were able to
come together, despite differences of opinion, and vote unanimously to pass the
National Conservation Law, a critically important piece of legislation that has
been necessary and talked about for more than a decade. This was indeed a
triumph for our democratic process and a testament to what I hope is a new
spirit of cooperation and compromise among the elected members of the House.
There is much to be done in this
New Year and I am fully cognizant that the government will have significant
challenges to meet. But meet them we will, just as we have done these past
seven months, with courage, conviction and a willingness to listen and
compromise. Working together, all things are possible. On behalf of the
Government, I wish for each of you a Happy and Prosperous 2014. May God
continue to bless these Islands for with his grace I am certain the best is yet
to come. |
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