Day 2 from GAIM Ops: Questions and conundrums for policy makers and hedge fund managers
| Mar 2nd, 2010 | Filed under: Today's Post | By: Alpha Male |
A Rock and Hard Place
Cayman Islands Premier McKeeva Bush is between a rock and hard place. Despite riding a wave of financial services growth over the past decade, the past 2 years have wrought considerable fiscal stress upon this island paradise. In turn, this has forced the Premier’s administration to balance the pressure to raise government revenues with the need to maintain Cayman’s time-honoured tradition of zero income and property taxes – cornerstones of its strategy to attract and retain financial services firms. To hit the point home, March’s edition of The Cayman Islands Journal contains a front page story – above the fold – titled “Tax could kill Cayman’s Economy.” More…
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