MANAGEMENT IN CONFIDENCE
- 3-
the past few years.
However, 1978 was a year of marked progress and the success in the economic field reflects the growing political maturity and judgement of the Government. Encouraging attempts are being made by the Government to diversify the economy from its narrow offshore investment/tourism base. Of particular importance is the establishment of the oil terminal, which, if it recovers from the initial setback caused by the Iranian crisis, will represent a resounding tour de force for the Government's bustling self-help, and it will provide, at no capital cost to the Government, an annual royalty of between $US7 and $US8 million, at today's prices over the next 30 years. Other enterprises to add to the territory's growing wealth are being pursued energetically.
10. The Cayman Islands have never received UK budgetary aid. The estimated revenue for 1979 (very modestly assessed), including the balance from 1978, is CI$18,064,112 (£10,838 m approx.), a total estimated expenditure of CI$18,050,730 (£10,830 m approx.) leaving a balance of CI$13,382 (£0,008 m approx.). In 1979/80 HMG will provide £Stg330,000 capital aid on loan terms as well as technical cooperation. Aid is due to cease after 31 March 1980, because of the territory's relative prosperity.
Security (Internal and External)
11. There is no external threat, but ultra conservative local politicians greatly fear the influence of nearby Cuba and look with disfavour on the activities of the Jamaican Government, although they sensibly take advantage of the professional people who are leaving that Island for jobs elsewhere.
12. High employment, good wages and a buoyant economy all contribute towards present stability. Crime is insignificant and the risk of internal disorder is low, but in the past the Islanders have shown themselves capable of violent reaction if aroused. The threat to law and order stems from two sources: a) commercial and banking frauds, money laundering and the like
b)
and
drugs.
Reasonably effective bank inspection arrangements backed by a Special Branch/Anti Narcotics Unit of growing efficiency and a good CID presence are keeping pace with these law and order problems.
13. The Police Force of 117 all ranks is well trained and effective. There are three expatriate UK police officers at post including the Commissioner.
MANAGEMENT IN CONFIDENCE
/THE
No comments yet.
Private notes are available after approval.