A Budget for Caymanians
Education: This Government is spending more on Education than any previous Government, a total of $208M. This $208M includes funding for additional teachers and support staff.
We will also be spending more than $20M of capital on improvements to various primary schools and to progress the John Gray High School.
Safer Communities: We've budgeted $270M for National Security, this includes funding to provide the RCIPS with 25 new Police Officers in 2018, a third will go into Community Policing as well as Policing in general.
We are creating a border protection agency that will work to prevent people smuggling, drugs or guns coming onto our shores and that will provide search and rescue at sea.
In this budget we’ll be focusing on diverting our youth away from risk and criminality, to be engaged in activities that provide a better future and create good citizens.
Access to Quality, Affordable Healthcare: This Government is working to ensure all Caymanians have access to affordable, high quality healthcare. We're building a much needed, new mental health facility. Work has already begun and will be completed by early 2019.
A Strong Social Agenda: This budget provides increased services to the elderly. A Council for Older Persons has now been set up so those in their golden years will have a voice.
The budget provides for increases in ex-gratia payment to Veterans, Seaman,some Civil Servants whose pension is less than what's provided by those who receive government assistance and Caymanians in need.
A Healthy Environment: The funding in the budget allows us to move forward with the new Integrated Solid Waste Management System that will include recycling, composting, ongoing tyre shredding and a waste to energy plant. The next step is to finalise the technical, financial and legal details before the contract a signed with private sector partners. Constructions is expected to start Summer 2018.
There is also funding allocated to launch a more aggressive approach to deal with the invasive Green Iguana.
Tourism: There is an increased budget to support tourism, including our national flag carrier Cayman Airways. The expansion of the Owen Roberts Airport which will be completed early 2019 will mean we will be able to handle up to 2.5M travellers and provide them with a much better experience.
To accommodate more arrivals, the private sector are investing in two new hotels which are slated for George Town. These will provide much needed room stock and jobs for our people.
Financial Services: We will continue to improve and market our financial services products and to defend our financial services business whether here or overseas. The Paradise Papers are just another example of an unjustified attack on our financial services industry. We have a strong legislative and regulatory framework that is based on British common law. But saying it isn’t enough; we are vigorously defending this key industry in both the UK and the EU.
Major Infrastructure Investments:
Over the next two years we are also making the following investments in major capital projects.
* John Gray High School $20M
* Roads Infrastructure $19.6M
* Integrated Solid Waste Management Facility $14.6M
* Mental Health Facility $13M
* Fire Equipment $7.8M
* Digital Infrastructure $13M
* Land Purchase $4.6M
* Police Stations $4.4M
* Cyber Security/e-Government $3.1M
* Cruise Berthing Facility Project $3M
A Strong Economy to Help Families and Businesses: We are continuing to finance all operating and capital costs from cash surpluses, this includes the $19M being spent over the next two years to improve our roadways. This means no additional new borrowing or additional taxation on our families and businesses. The continuation of sound financial management means businesses have the confidence to invest, this investment is what stimulates the economy and provides jobs for our people.
