(CNS): Opposition leader Roy McTaggart said the Cayman Islands government needs to reduce fuel tariffs to zero, pumping additional 75 cents into each gallon and reducing quarters charged to CUC by the end of the year. Said there is. People deal with soaring living costs. At a Zoom press conference on Tuesday, former Treasury Minister admitted that he did not know exactly what the cost of public funding would be. However, he said the CIG is “full of cash” given the increasing obligations elsewhere, so it can do this and still balance the books.
McTaggart said it was a “bold move” affecting everyone, and the PACT government has not yet done enough to help people through the current inflation crisis. He said tariff revenues were rising across the board due to inflation and rising prices in imports, which were out of people’s pockets. Therefore, he said the government could return that money by cutting all fuel taxes until the end of 2022.
Party leader and deputy leader Joey Hugh said summer would be tough for people, and fuel tax cuts were the easiest way to help everyone, as they have a direct impact on the wider economy. ..
In a recent parliament, opposition leaders accused the PACT administration of being “insufficient” after Prime Minister Wayne Pantone’s response to McTaggart’s question about what the government plans for unprecedented levels of inflation. .. He said his members believed that PACT was “too distracted by the fight, looking at their own backs to see the problems people are suffering from.”
Mr McTaggart said public finances are still in very good shape and there is room to reduce this obligation to mitigate the negative effects of inflation, which is likely to continue for some time.
Hugh also said the government withdrew the credit line negotiated by the PPM administration as a backup to navigate the country over the pandemic and other crises that resulted from it. He urges opposition parties to do more to help people overcome the crisis, given the government’s flexible financial position, rather than blaming the government for the crisis in living costs. Said that.
Both Hew and McTaggart agreed that the global situation was extraordinary, inflationary pressures were external and beyond the government’s ability to deal directly. However, the government can help people with more proactive measures, such as lowering tariffs, rejecting water department price increases, continuing to freeze mandatory pension payments, and supporting health insurance for tourist workers. They said.
McTaggart said CIG didn’t have to increase distributions or keep cash in people’s hands, but there were plenty of options available to protect people from the worst effects of inflation. He has already written to the government with many proposals, but the Prime Minister did not respond, he said.
He and his PPM colleagues said they were happy to discuss other options with the government and help them survive the crisis.
The government has provided some free breakfast, lunch and light meals to all children attending public schools, and some to ease pressure from inflation, including reducing various government fees and taxes for seniors. Measures have started. In addition, it plans to subsidize the electricity bill for about 20,000 homes, and the outline is expected to be revealed within the next week.