💼 UPM government to present 2024/25 budget to parliament

The United People’s Movement (UPM) government is set to present the 2024/25 budget to parliament on 8 December. The announcement was made by the Speaker, Sir Alden McLaughlin, who called for the second meeting and official state opening of the 2023-24 session of the parliament to begin next Friday at 10am. The meeting will include the governor's first throne speech and the budget address, delivered by the new premier and Minister for Finance, Juliana O’Connor-Connolly. 🏛️

McLaughlin noted that this is a unique state opening with a new Speaker, Governor, and Premier. He emphasized the importance of the meeting for all Caymanians and residents, as they will hear about the government's spending plans over the next two years and any policy developments. The budget is expected to be controversial due to the government's spending plans, which are expected to exceed one billion dollars. The budget has been in process for most of this year and while it will now be labeled as a UPM budget, much of the work was done under the former premier and finance minister Wayne Panton. 📑

There are concerns that some projects related to climate change and green energy transition, which would have been funded by Panton's climate change ministry, could lose out to the new Cabinet's other priorities and increased development. The meeting is expected to run over several daily sittings, and the new Standing Business Committee will meet next week to finalize the order of House business. The public can view the proceedings live at the House of Parliament or through various broadcast and social media channels. 🌍