LA State Opening
The Legislative Assembly this morning (Monday, 30 May 2016) began its new session for the year with the State Opening which had Cayman Islands Government leaders setting the tone for the coming year with three major presentations.
First, Her Excellency the Governor, Helen Kilpatrick, CB, delivered the Throne Speech that outlined key Government projects in the coming year. She also congratulated the Government for "its careful stewardship and adherence to the principles of good governance."
Earlier outside, she inspected a Royal Cayman Islands Police Service guard of honour and received the Royal Salute.
Following the Governor, Premier Hon. Alden McLaughlin, MBE, JP, presented Government's Budget Policy Statement titled "Delivering on our Promises". He emphasised Government's numerous accomplishments in the past three years which had resulted in net surpluses totaling almost $400 million, despite giving nearly $30 million in tax reductions and correcting inequalities in civil service salaries.
All civil servants will also receive in their June pay packages a one-time gratuity of 2.2% of annual salary. Government also proposes to correct in the coming budget pay stagnation for some long serving employees, Premier McLaughlin announced.
He also focused on actions planned for the coming budget year that has been extended by six months to 31December 2017. This would give the new Government elected in the May 2017 General Elections sufficient time to prepare and present its first budget year, which would coincide with the calendar year, the Premier said.
Next, Minister for Finance and Economic Development, Hon. Marco Archer, JP, tabled the Appropriation Bill and the budget documents. He presented Government budget proposals for the 1 July 2016 to 31December 2017 fiscal period with no new revenue measures in his budget address titled "Securing Cayman's Future".
The budget represents yet another steady step in Government's progress toward long-term fiscal stability, economic growth and for ensuring a sound financial future for the Islands, the Minister reiterated.
For the full texts of the Throne Speech, Policy Statement and Budget Address as well as the budget documents on the government website www.gov.ky, see http://www.gov.ky/portal/page/portal/pfehome/publications/2016-17-Budget-Documents.
For further information contact: Bina Mani