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UK’s nod has conditions

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  1. The 

*Passage of the UK-Cayman agreement known as the Framework for Fiscal Responsibility (FFR) agreement the FCO signed with Premier McKeeva Bush last year to be signed into law.
  2.  For the next three years government will not be able to appropriate any more funds to any budget once passed, unless it is to fund recovery from natural disasters.
  3. The creation of a budget delivery board headed by the Deputy Governor, Franz Manderson and to comprise of an unknown number of members. Those members can include certain representatives of the private sector. Note: This board will assist government in setting longer term fiscal plans and policies between now and 30 June, 2016.
  4. The Cayman Islands Government will facilitate reviews of the budget by the FCO's economic adviser up to four times throughout the year.

Published August 26, 2012

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