The Government of the Cayman Island says it has crafted a budget it considers to be credible and sustainable for the new fiscal year.
Caymanís 2012-2013 national budget is scheduled to be presented tomorrow by Premier McKeeva Bush. Government officials say the traditional Throne Speech, which outlines its policies and programmes for the new fiscal year, will also be presented.
In a statement released on the weekend, the Cayman Government said the new budget meets the targets set by the United Kingdom for the next four years to place the countryís finances on a sound footing.
The government of the Cayman Islands and the UKís Foreign Commonwealth Office have been at loggerheads over the composition of the fiscal package, with Britain insisting on further cuts in spending.