By The Progressives

GET THE FACTS

MAC CLAIMS BUSINESSES GONE

FALSEHOOD

McKeeva Bush claims more Caymanians have lost their businesses since the PPM took over in 2013

TRUTH

There are more medium & small businesses today than there were under McKeeva Bush. Medium to small business are doing better today than they were under Mac.

The Progressives have been pro small business.
In every year since the Progressives implemented a small business stimulus of greatly reduced fees the number of small business startups has doubled.
Small businesses are also benefiting from the current growing economy compared to the years of stagnation with McKeeva Bush at the helm.
The economy under our stewardship has grown consistently and impressively.
This Government also waived outstanding licensing fees for small businesses that had fallen behind during the Bush years and could not catch up on license fees owed.
This means they are now operating fully legally and because they are licensed again they can compete for contracts, including Government contracts.
Caymanian unemployment is the lowest it has been for 10 years. The economy is stronger and there are more businesses and more jobs now than ever before.
We are making significant progress in turning a failing economy around with great success and overall, people are better off than they were just three years ago.

MAC CLAIMS HOME LOSS HIGHER

FALSEHOOD

McKeeva Bush claims more Caymanians have lost their homes while the PPM have been in power

TRUTH

More loan defaults occurred during McKeeva bush’s tenure as Premier than at any time in our history. With the economy improved and growing under the Progressives many people have real hope again.

High loan defaults are what you would expect with the high Caymanian unemployment under McKeeva Bush and the UDP.
McKeeva Bush and the UDP did nothing that was effective and that prevented home losses. In fact their actions substantially increased the cost of living and the cost of doing business particularly at a time when their policies did nothing but promote a shrinking economy.
Even his failed “Save the Mortgage” programme that was only doled out to his supporters did nothing in the end but give money to the Banks.
On average over 80% of the recipients of the $2.5 million programme were in default within four months of the money being given to the Banks.
This Progressives Government has not worked on a band-aid approach. We have worked proactively with the local banks to see how best to help give real relief to those who need it and the majority of those situations have been settled successfully.
Many of the foreclosures have been from non-Caymanian owners and unfortunately; there have been some people who could no longer afford the homes they bought, for a variety of reasons, including divorce, job loss, or death of a bread winner etc.
The only way to truly resolve loan default scenarios is the approach we have taken – to create an environment where the economy grows, businesses thrive and more jobs are created and filled by Caymanians.
We have also designed and implemented the innovative Ready2Work programme that is helping our people find and keep jobs by bridging skills gaps.

SOURCE: http://www.theprogressives.ky/the-facts/