The Mad Bull’s Blog, Version 3

So recently, when reading the Jamaica Gleaner, or surfing Facebook and Twitter, all the info I could hear out of Jamaica suggested that the economic downturn was making full impact upon the island.

Here in Cayman, it was not so evident. There was some amount of downsizing, and companys were seeking to improve efficiency through cost cutting exercises, but it seemed to me that things were not SO bad… and then McKeeva Bush (the Leader of Gov’t. Business) dropped the bomb last week!

The C. I. Gov’t.’s coffers are bare, bredrins! How do they make up for that usually? Through borrowing. But guess what? The last Gov’t. was spending money like it was crazy, building 5 schools at once, and building a new base for the marine section of the police, and building a new Gov’t. office building and building, and building and building…. plus all the money they spent on a couple of high profile investigations and court cases, where bungling led to (and may lead to MORE huge payouts in damages), and where the Gov’t. had to foot big bills for housing some investigators from Britain in hotels here for over a year, plus all the other bills that they have to pay. The Gov’t.’s deficit is HUGE!

And so the U.K. has decided that it will not be allowing the C.I. Gov’t. to borrow any more money until they give them a five year plan as to how they can generate more revenue to put towards paying off their loans. Times hard in England too, you know! They don’t want to get stuck paying no big bills for any dependent territories! No way, sah!

And the Gov’t. has made us know that the situation is dire, you know! They have indicated that they might not be able to meet their wage bill for September! No pay for the civil servants! OMG! There was talk about not paying pension or something like that! Yes sir, serious times!

And so the Gov’t. has been mulling over ideas as to how they can up revenue. What have they come up with so far? Possibly starting up with :-

- Income tax

- Land Tax

- Increased taxes on alcohol & tobacco, gasolene, and customs duties

- Increases on service fees

- Imposing a tax on wire transfers out of the Cayman Islands

- Increasing the number of five star hotels here

- starting up a National Lottery

In my talking to members of the public as I do everyday, I gather some sort of an idea of public opinion, and my ‘research’ tells me that people are viewing this income and property tax suggestion with some level of trepidation. The feeling of many seems to be that the cost of living is already so high here in the Cayman Islands that having to pay these taxes and then still meet their other bills will not be easy! In short, it is looking rather grim!

Personally, I would not welcome any income tax, or property tax myself. I hope that the Gov’t. will go forward with the other taxes it speaks of, and with the National Lottery (Can anyone say “Lotto!”! Wheee!!! The guys who sell illegal numbers will take a hit, but frack them.). I am also for increasing the number of five star hotels and I URGE the C.I. Gov’t. to deeply consider changing gambling laws to allow the set up of casinos in these five star hotels.

These five star hotels and the casinos will vastly improve our tourism product, in my eyes! The Gov’t. can then tax the casinos. I think that the money made from the National Lottery and the casinos will go a far way towards allowing the Gov’t. to reduce its deficit, perhaps enough that we won’t have to endure the burden of direct taxation.

Now I know that traditionally, the church is against casinos, and also many of the citizens of the Cayman Islands. They feel it will increase crime, yadda, yadda, yadda. Guess what? When people can’t pay their bills, crime increases as well, and I don’t think that the casinos HAVE to lead to an increase in crime anyway. If the church and the concerned citizenry cry out against the casinos, simply ask them if they can foot the bills? If they cannot, chill! Put up, or shut up, yo!

Well thinking readers, if you have any other good ideas, put them forward in the comments, nuh? We need some good ideas.

UPDATE @ 10:10am, Sunday morning: I was walking Simba yesterday and came across an older lady who I often encounter on our walks and I stopped and was chatting to her for a bit. She is an ardent supporter of the PPM and she pointed out to me that we can’t really blame the PPM for the money lost on those fool-fool court cases, or indeed the police helicopter we bought over a year ago and have yet to lay eyes on! She was right about this. Such blame lays on the Governor. The Brits control the police, you see… they dictate everything as it concers security, so if they say we need a helicopter, it will be bought. If they say that the court case required investigation from people in Scotland Yard, then that is what will happen. The bills are then presented to Gov’t., who simply has to pay them! Re-reading what I wrote above, it definitely sounds like I was blaming the previous Gov’t. for the money spent on these things, so I thought I’d set the record straight.

Tags: Happenings, My Opinion, Serious Tings, Things Caymanian, Thoughtful // 2 Comments »