With Thursday July 4^th being United States Independence Day commemorating the day the country declared independence from Great Britain there is a huge debate now as Scotland considers to part ways.

And Cayman’s independence has been simmering beneath the surface here for decades.

And what are the advantages and disadvantages of independence?

Pros:

Self rule. No interference from a country thousands of miles away that doesn’t understand how we do things here nor wants to.

Align ourselves with other Caribbean nations who are our neighbours and should be more understanding of our ways.

No Governor to spy on us.

We put in place our own budgetary controls.

We have no restrictions on our borrowing.

We can partner with whomever we like and when we like.

If we had had independence now our cruise ship terminal would have been started and our airport expansion programme.

Cons:

We are not self supporting with no natural resources

We rely 90% on importation.

Independence could immediately see a reduction in our banking industry, as it will not seem so secure to outsiders.

We would have no global presence.

Borrowing could become more expensive.

The history of Caribbean countries that have become independent is not filled with many success stories. There is more poverty in these countries since independency.

Costly process.

Large economic gamble.

More open to corrupt governance.

Joining Caribbean partnerships not always a good thing when we will be competing for a slice of the same pie.

Police accountability could be problematic

We are a tiny country. USA could destroy our Tax Haven status immediately.

Please let me have your lists. They would make interesting reading.