None
EN
Comment on 65% of CIG revenue now dependent on financial sector by Anonymous
['Cayman News']
Comments for Cayman News Service
Walkers, Grand Cayman(CNS): Government revenue from the financial services sector, both direct and indirect, now makes up almost two-thirds of public revenue, having increased by 38% over the last five years, according to a report commissioned by Cayman Finance.
This puts Cayman at risk of becoming a jobless revenue centre, which would lead to a decline in government revenue.
Cayman Finance CEO Steve McIntosh said the financial industry is the backbone of the economy and public finances.
Our vision is a financial services industry that is thriving and supporting the community to its full potential.
This is a moment to double down on our partnership and ensure Cayman remains a world leader in financial services,” he added.