From the Office of the Premier

On the opening day of the Joint Ministerial Council (JMC) meeting in London, Premier McKeeva Bush made the case for Cayman to the Hon. Mark Simmonds, Minister for Overseas Territories at the meeting of British Overseas Territories and the UK Foreign and Commonwealth Office. Premier Bush raised the need for the UK to help defend international financial centres from unfair attack; to not strangle the Territories with the red tape which was being cut in Britain; to realise that entrepreneurs had made Cayman an international success story and infrastructure developments were vital to maintain that progress.

Premier Bush said, “I therefore have a plea for the UK Government; we don’t want aid or handouts but we want you to speak up for us in Europe and other international fora. After all Minister, as Mr. Cameron has said, ‘we are all in this together’.”

Minister Simmonds said that he agreed entirely and that he was determined that the UK Government would do more to help the small international financial centres who were a great success story.

In addition to the two-day JMC meeting, Premier Bush had a busy schedule meeting with Minister Simmonds, separate meetings with other Ministers, a business event in the FCO where presentations by a Government Minister and British business interests were made, with subsequent networking among the OTs’ and a Cayman Islands Reception. The Premier also signed a Tax Information Exchange Agreement with Italy, marking our thirtieth such agreement, which now covers all seven of the G7 countries.

The Premier spoke to our use of British common law as the foundation for our legal structures and without which no lasting developments nor economic growth can take place. “First of all there can be no development of an economy of any kind unless there is peace and security. Many of us here have financial services industries and it is no surprise that the top centre in the world is London, which is supported by the many other jurisdictions, round this table and elsewhere which are based on the ethos of English law and regulation.”

Premier Bush and the other Heads of Delegation to the JMC met with Prime Minister David Cameron at 10 Downing Street after the close of the JMC on Wednesday. The OT Leaders each had an opportunity to speak briefly with the Prime Minister. Premier Bush thanked Mr Cameron for his speech at the CBI, and reminded him that the Cayman Islands operates on the principles of international best practice through our laws and did not want the same strangulating bureaucracy as he was cutting. This is believed to be the first such meeting of a British Prime Minister with Leaders of all the British Overseas Territories.

In other sessions and in a speech to a very well attended Cayman Reception the Premier drew attention to Cayman Biodiversity and the success of the Marine Parks. Dr. Colin Clubbe, Head of UKOTs and Conservation Training at the Royal Botanic Gardens, KEW presented Premier Bush with an updated copy of the Flora of The Cayman Islands.

The Premier and members of the Cayman delegation will meet with UK Ministers and officials outside of the JMC meeting. A more detailed report will be issued after the completion of the London trip.