Friday 29 May, 2020

Premier addresses implicit criticism from the Chamber of Commerce

"We can either decide to focus on funerals or we can either decide to keep as many people alive as possible," said Premier Alden McLaughlin in response to what he has indicated is some implicit criticism from the Chamber of Commerce with regards to the fact that Caymanian businesses have been hurt during this coronavirus crisis period.

The Chamber has indicated that they are concerned that 11,000 jobs will be lost as the Covid-19 crisis rages on. The Premier responded that he believes that this sum is understated, and that businesses need to take a long hard look at their operations and make some decisions.

He stressed that the government will not be in a position to support thousands of people who are not working for the medium term.

The Premier indicated that although business is a priority, the number one priority is the lives of people. He went on to outline some possible initiatives that will be supporting local businesses.

These include the following:

  • soft loans through the Cayman Islands Development Bank
  • possible pension payment holidays
  • wage subsidies

"We are always going to put the welfare of the people of this country before the economy," said the Premier. "Only Christ himself has been known to raise the dead."

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