Dear Sir,

Yesterday on Cayman Cross Talk, the LOGB raised a massive contradiction while discussing fee increases.

Austin immediately picked up on it and asked why the financial industry would increase fees now?

Gilbert also pressed for clarification on the matter.

Mr Bush implied that the financial industry made the recommendation, so they must know what they’re doing.

Shortly thereafter, Mr Canover Watson called in to explain the paradox. Mr Watson’s reasoning is that we can increase fees now, and reduce them later after more expats are brought in to service all the new business.

Tax havens are being dismantled by the G20, so why would Cambridge graduates recommend increasing market share in a decreasing market?

Because high level executives will be lured from other tax havens and their clients and staff will follow them. This will create an illusion that our industry is growing, therefore no need to introduce taxes. When the global market shrinks and everything collapses, they will be gone and we will be broke.

Don’t be fooled, Cayman. It’s just a smoke screen. They don’t want to give anything back to the country that has given them wealth beyond their wildest dreams. England knows we need reserves to transition us into the next economic era. That’s why she wants us to tax those rascals before they flee.

To add insult to injury, they want to sabotage our tourist industry by dredging out our fragile ecosystems.

Wake up, Cayman! We don’t have much time left to put our house in order.

May God help us all.

Please visit our website at: www.cfc.hostzi.com 

George P. Samuels, CPA
Caymanian for Caymanians (CFC)