The Honorable McKeeva Bush, Premier and Minister of Finance is pleased to announce the establishment of a Budget Delivery Committee (BDC). The establishment of the BDC meets the commitment made to the Overseas Territories Minister by the Premier.

The OT’s Minister requested that the Committee would be led by the Deputy Governor as Head of the Civil Service and be responsible for monitoring and driving the operational delivery of the budget and the fiscal framework and be made up of civil servants and representatives from the private sector.

Speaking on the establishment of the BDC the Premier stated, “I fully support the request by the Overseas Territories Minister that a Budget Delivery Committee be established. I am concerned to ensure that the Civil Service is able to properly coordinate the operational delivery of the Budget. My Government delivered a bare bones budget within a very tight fiscal frame which calls for significant administrative change in the Civil Service. I therefore welcome the establishment of the BDC which will keep me informed of the performance of the budget, on a monthly basis. I have asked for an economist and an accountant to perform similar functions for the past three years. I am particularly pleased to have the business expertise and acumen of Dan Scott of Ernst & Young and Woody Foster of the Fosters Group.”

His Excellency the Governor said, “I welcome the announcement by the Honourable Premier of the establishment of the Budget Delivery Committee.  The 2012/13 budget, approved by the Minister for the Overseas Territories and passed by the Legislative Assembly, aims to bring Cayman’s public finances back onto a credible and sustainable track.  I am confident that the Committee, under the able chairmanship of the Deputy Governor and with the valuable input of respected senior members of the public and private sectors, will help drive the Civil Service’s operational delivery of the important demands which the budget have placed on it.  By providing timely and clear advice, the Committee will ensure that the Premier and his Ministerial colleagues are fully informed at all times and are able to make, at an early stage, any policy adjustments which may prove necessary to keep the budget on track”.

Commenting on the BDC the Deputy Governor stated “ I am pleased to lead the BDC – as Deputy Governor and Head of the Civil Service I am accountable for the delivery of the budgetary commitments made by the Hon Premier and Ministers and approved by the Legislative Assembly. The purpose of the BDC is to assist me in carrying out this function. I am committed to ensuring that the BDC supports the Hon Premier in his role as Minister of Finance by keeping him fully informed of progress in the delivery of the budget and by giving him and his Ministerial colleagues early warning of any significant changes  to allow him and his Ministers to make any necessary policy changes. The BDC is an advisory body within the civil service and as such remains accountable to the government of the day to assist with the delivery of its budget plans”.

The BDC will meet monthly and its terms of reference will be published on the Government’s website shortly.