LA State Opening
At the State Opening of the Legislative Assembly Friday (15 May 2015), Her Excellency the Governor, Helen Kilpatrick inspected a police guard of honour before proceeding inside to deliver the Throne Speech.
Emphasising that a stronger fiscal position underpins the Government's policy and legislative agenda in 2015-2016, the Governor said she has invited the reappointed UK Minister for the Overseas Territories, Mr. James Duddridge to make an early visit to Cayman to continue the dialogue that he and the Premier have established.
"The trust of the people arises from good governance. For the Government, and for the public service as a whole, this is the most valuable currency of all," she said.
Premier Hon. Alden McLaughlin, who also received a police salute, presented the Government's policy statement Toward a Better Tomorrow. He highlighted and elaborated on four main drives to be pursued: good governance, support for the key tourism and financial services sectors, infrastructure development and encouraging a positive business environment.
Finance Minister Hon. Marco Archer followed with his presentation of the 2015-16 Budget Address: Restored Public Finances - A Benefit of Disciplined Governance. He said the 2015-16 budget would be the first to achieve full compliance with all six principles of responsible financial management outlined in the Framework for Fiscal Responsibility and reflected in the Public Management and Finance Law.
For instance, a key requirement governing government's net operating position would be achieved with revenues forecast, despite no new revenue measures, to be $661.2 million. Expenditures are forecast to be $539.9 million which will result in a net operating surplus of $121.3 million, he explained.
Debates on the presentations will commence on Wednesday, 20 May 2015.
For further information contact: Bina Mani