MEDIUM TERM PROPOSALS
 (6-12 Months)

Support the current civil service review commissioned by the Governor. Implement strategies to reduce the cost of the civil service as a matter of priority.

Privatize sectors of Government that can be carried out by the private sector to reduce the bottom line costs for its infrastructure and staff. For example, some areas of the Department of Tourism, Public Works Department, Motor Vehicles Licensing, Garbage collection and disposal, Computer Services, Government Information Services, Prison Service etc.

Offer permanent residence to expatriates who have lived in the Cayman Islands for more than 10 years who have bought real estate over $250,000 or is willing to purchase property worth $250,000 or more within the next six months.

Implement Chamber of Commerce Inward Foreign Investment Report proposals. (See Appendix 3) Develop a public education campaign illustrating the importance of attracting inward foreign investment and how the country relies on investment to generate revenue and jobs. Political input/support is essential to clarify this important issue to Caymanians.

Establish a public/private sector committee to develop the format for a regular statistical report that will measure economic performance in the main industry sectors. This report should be highly publicized and distributed to all of the major media outlets and business associations.

Identify parcels of crown land that can be made available to the private sector, in partnership, for the construction of low cost housing developments for Caymanians. This will enable Caymanians to own their own homes at an affordable price. It will also be important to allow building systems that are hurricane resistant, but are affordable to build.

Simplify the import duty rates for businesses. Introduce a higher rate of duty for persons who do not possess a Trade and Business license (20% across the board). This will raise additional revenue for Government and will allow local businesses to offer better pricing which will increase consumer spending in the local economy.