Cayman Premier Panton Looks to the Future
Address at the annual Cayman Islands Chamber of Commerce Parliamentary Luncheon on Wednesday, 14 June
In the featured address at the annual Cayman Islands Chamber of Commerce Parliamentary Luncheon on Wednesday, 14 June, Premier Hon. Wayne Panton, MP, JP gave an update on the state of Cayman Islands Government finances and the national economy, while also outlining his Government’s plans and aims for the next two years.
Focusing on the need for “future-proofing” the Cayman Islands for the benefit of current and future generations of Caymanians, Premier Panton announced his intention to facilitate a national dialogue giving Caymanians and residents the opportunity to share what they want to see in the Cayman of tomorrow.
In outlining the financial situation of the Government, the Premier noted that while Government revenues are trending higher than projected the need for fiscal prudence is increasingly highlighted in the face of rising costs.
Recognising that the Cayman Islands’ economy has rebounded strongly since the pandemic years of 2020 and 2021, the Premier noted that the Government has a responsibility to keep the economy both growing and stable now and for the future.
Premier Panton acknowledged the stresses placed on the Islands’ infrastructure and essential services by the increase in the resident population by some 8,000 people between October 2021 and 2022, compared to 16,000 in the previous 10 years.
While underscoring his Government’s support of the business community to the Chamber’s leaders and membership, the Premier said economic growth must be balanced by offering job opportunities to Caymanians first.
Throughout his remarks, the Premier emphasised the vital importance of planning for the future and thinking more of long term public benefits rather than short term political gain.
Premier Panton wrapped up his remarks with his vision for the Cayman Islands and the need for a national dialogue while working in tandem with the private sector.
He concluded by asking for the business community’s ongoing support, saying, “Together, working hand-in-hand, business and government can protect and grow our economy and make sure all of our Caymanians benefit.”
The Premier’s full remarks and presentation are attached below:
