OPPOSITION LEADER RESPONDS TO GOVERNMENT’S STRATEGIC POLICY STATEMENT

BY Staff Writer

The Strategic Policy Statement (SPS) of the National Coalition For Caymanians (NCFC) government was subjected to thorough and critical scrutiny during Friday’s sitting of Parliament.

Presented on Wednesday October 15th by Hon. Minister of Finance and Economic Development, Rolston Anglin, the SPS was debated on Friday October 17th.

The document shows projected revenue for the 2026 to 2028 period totalling KYD3.864 billion with new revenue-raising measures of KYD209.5 million. Spending is forecast at KYD3.83 billion with a surplus projection rising from KYD6.6 million in 2026 to KYD9.4 million in 2027 and reaching KYD13.8 million in 2028.

That outlook contrasts with the hotly-debated official projection earlier this year of a possible deficit but which is now expected to result in a surplus of KYD10.2 million following the recent government interventions

The previous forecast surplus for fiscal year 2025 was KYD53.2 million as outlined in the 2024-2025 budget.

The SPS also gives a broad overview of a range of policy proposals across the general economy and ministerial portfolios, reflecting the campaigning priorities of the coalition partners. Those have now been cemented in a formal coalition agreement - the first of its kind in Cayman politics.

In one of its first major policy moves, the NCFC government rescheduled the SPS from its traditional June presentation to October on the grounds that a six-month window following an April election was more practical than the standard three months.

HEW WIELDS THE AXE 

Hon. Leader of the Opposition and party-leader of the main opposition People’s Progressive Movement(PPM), Joseph Hew, kicked off scrutiny of the SPS by challenging the government’s financial projections. He referenced an issue that was central to the last phase of the 2025 election campaign, and which he felt might have shifted the outcome. That was the much-referenced Pre-Election Financial Update(PREFU).

“When we look at the Government’s financial position, we see that revenues continue to rise and the country continues to operate with a surplus. The deficit that was incorrectly forecast prior to the election simply did not happen. We doubted that it would! —but this did not stop the Government from using that flawed forecast to attack the Opposition…With additional borrowing taking us up to a record 650 million dollars…perhaps the deficit is in the not-too far future.”

Mr Hew felt the SPS was delayed because the Minister of Finance “could not trust the Government’s own projections”.

That set the tone for his discourse, which in part challenged the NCFC government’s fiscal plans and contrasted what he regarded as risks to the economy compared to the stability he attributed to the PPM/Progressives period in office.

“The current strength of our economy is built on the sound foundations laid by previous administrations. The recent reaffirmation of our AA3 credit rating by Moody’s, placing us on par with major global economies, is a testament to Cayman’s long-term stability.”

SAFEGUARD THE ECONOMIC PILLARS

However, on the government’s broad fiscal policies, including the proposed additional revenue measures and the cost of living implications, Mr Hew stated: “Taxes are up, but real relief is still absent.”

He framed the importance of the financial services and tourism industries to the economy, urging the government to safeguard them by exploring diversification in the exploding global digital sector.

Welcoming the NCFC government’s National Digital Transformation Strategy Taskforce, the Leader of the Opposition, stated: “However, the taskforce’s six-month timeframe to deliver recommendations means we won’t see concrete action until well into 2026…We need action now, not just studies.”

He said such action includes ensuring that Caymanians are trained and qualified to capitalise on the new growth sector linked to his theme of Preparing Caymanians to Lead.

IMMIGRATION CAUTION

Regarding the government’s key platform policy of immigration reform, Mr Hew expressed concerns about how it’s being presented.

“While the rhetoric sounds bold, the reality behind these announcements is far less clear and far more risky,” he cautioned.

“The Government claims that their coming immigration changes will ‘make way’ for Caymanians. But as a strategy, this is deeply flawed. You cannot build a Caymanian workforce by merely sending people away. You build it by building Caymanians up. And that requires a long-term, coordinated, and credible plan.”

The PPM/Progressives and Opposition Leader also challenged the government on a range of other issues while putting forward his party’s plans to address them.

These include education and pathways into careers, healthcare, food security, “environmental stewardship” including the landfill and beach erosion, policing with more funding for the RCIPS, traffic management, pensions, social care and support for the elderly.

The scrutiny of the SPS included presentations by former PPM/Progressives finance minister Roy McTaggart, the party’s Deputy Leader Kenneth Bryan, PPM MP Roy Tatum, independent Chris Saunders and NCFC minister of tourism Gary Rutty.

NCFC Minister of Finance Rolston Anglin strongly defended his government’s SPS, while Premier Andre Ebanks gave the official rebuttal.

The presentation of the Strategic  Policy Statement (SPS) in mid-October comes just a matter of weeks before the annual Budget Statement on November 5th. Many of the issues raised are expected to be further debated in more detail during the budget.

(We’ll have more highlights from Friday’s SPS debate)