s.23Strategic policy statement
23
Section 23Part 0 — Government Budgeting

Strategic policy statement

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Subject to subsection (1A), the strategic policy statement for the next budget period shall be presented to the Cayman Islands Parliament by a member of the Cabinet appointed by the Cabinet to do so on behalf of the Cabinet not later than the 1st May immediately prior to each budget period for approval within two months, and if the Cayman Islands Parliament has not within that period resolved to approve, amend or reject the statement it shall be deemed to be approved.
In a year where there is to be a General Election of members of the Cayman Islands Parliament, the strategic policy statement shall be presented to the Cayman Islands Parliament by a member of the Cabinet appointed by the Cabinet to do so on behalf of the Cabinet not later than six months after the date of the General Election.
The strategic policy statement shall include —
a summary of the broad outcomes, the specific outcomes, and the links between them, that the Cabinet intends to achieve in the next financial year and for at least the following two financial years;
economic forecasts for that financial year and for the next two financial years, which shall contain the information set out in Schedule 1;
the date on which the economic forecasts referred to in paragraph (b) were made;
a total financial target for the core government for the next financial year and for each of the following two financial years, for each of —
operating revenue;
operating expenses;
surplus or deficit, being the difference between total operating revenue and total operating expenses;
borrowings;
net worth; and
net cash flows for each of its operating, investing and financing activities;
an explanation of how the financial targets referred to in paragraph (d) accord with the principles of responsible financial management set out in section 14(3) and, if those targets depart from those principles, the information required by section 14(4);
the total amount of executive expenses for each financial year;
the approximate amount of executive expenses allocated to each Minister, official member, the Office of the Ombudsman and the Audit Office for each financial year; and
the total amount of core government equity investments, acquisition of other executive assets, and loans for each financial year.
Repealed by section 30(b) of the Public Management and Finance (Amendment) (No. 2) Law, 2017 [Law 28 of 2017].

Defined Terms

strategic policy statementbroad outcomesspecific outcomeseconomic forecasts

Cross References

Referenced By