Editorial
Better Times Are Coming
A fresh wind of governance seems to be blowingacross the Cayman Islands these days.
This has been amply represented in numerousways. And while it may be impossible to identify specificallyall that is being done to resuscitate the economy, worthy of mentionare initiatives which have taken place recently.
The decision by Government to grant an additional270 citizenships to residents who have been here more than tenyears and who have become naturalized, must auger well for someincreased local spending, as these new Caymanians make plans tosecure their 'grass piece' and settle down securely in their newfound home.
On the tourism front, at the request ofthe Government, American Airlines officials met here this weekin a historic, high-level meeting with stakeholders in the country'seconomy.
This meeting was convened on the initiativeof Leader of Government Business Honourable McKeeva Bush.
There was a clear mandate by all of theparticipants: forge stronger and deeper ties among industry partners,and at the same time, devise plans to lure more visitors to theseshores.
The fact that a Member of the LegislativeAssembly -- not only the Minister responsible for this portfoliowas taking part in the discussions is encouraging.
The result of this meeting, which insiderssaid would be the first of many between the parties concerned,may not be immediately apparent. Yet it sets the pace for an improvementin the number of seats which are sold to bring tourists and investorsto Cayman.
What is also instructive and profound, isthe level of proactiveness which was taken to tackle a situationwhich, if unchecked, can have a debilitating effect on tourism,one of the lynchpins of this country's economy.
Some critics and cynics may argue that,American Airlines, an aviation super-power for all intents andpurposes, may very well be acting to secure its bottom-line, particularlygiven that Cayman is its third largest revenue earner in the Caribbeanafter Bermuda and Turks and Caicos.
On the other hand, the pragmatists and realistsmay fully appreciate and understand the symbiotic relationshipwhich, despite apprehension from some quarters, must necessarilyexist between large entities like American Airlines and smallcountries like Cayman.
This underscores the importance and brillianceof the broad-based and consultative approach which has been takenin dealing with the crucial issue of boosting tourist arrivals.
The national interest was clearly giventop priority.
The other noteworthy example was government'sapproach to the European Union's (EU) Savings Tax Directive.
We have been informed that the Leader of Government Business,the Hon. McKeeva Bush refused to sign the proffered agreementpresented to the Cayman Negotiating Team by the Hon. Dawn Primarolo,the UK Government's Paymaster General when they visited Londonin May. However, it is understood that talks are still ongoing.
This is a measure that has serious implicationsfor the Cayman economy which is already under severe pressure.
For, according to experts in the financialindustry, at a minimum, the EU tax initiative would drive millionsof dollars from the country, translating into fewer jobs and lowerincomes for Caymanians.
The approach to these fundamentally importantissues epitomises the fresh wind of governance to which we referredpreviously.
Far from the government creating instantpolicy, there has been a consultative and proactive approach tomatters of urgent public importance.
Indeed, one gets the sense that there isgreater involvement of Caymanians in matters which affect them.
To be sure, there will always be those who,despite Government's best efforts, and intentions, may still holdthe view there was insufficient consultation.
But actions speak louder than words, evenin politics.
So that whether it is in relation to dealingwith American Airlines, the European Union or awarding more majorcontracts to Caymanians, it is quite evident that the people'stime must come. Perhaps it truly has.
And that is the essence of true democracy.