Cayman begins descent into chaos

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Schools talks collapse | Cayman News Service.

Cayman's government is rapidly descending into chaos. On Friday a major contractor stopped work on two projects.

Cayman, of course, blames the UK.

The UK requires Cayman to show capacity to repay loans - top line, revenue generating capacity called tax. The UK is right to do so. If Cayman goes bust the burden is the UK's.

Cayman refuses to tax.

The corruption of tax havens / secrecy jurisdictions is writ large here: ultimately the rfusal to tax on behalf of the wealthy hits hardest those most vulnerable in any society. In this case it's Cayman's children. But that's just a metaphor for the bigger picture.

This is an issue the UK has to win and Cayman has to lsoe, for the sake of us all.

Hat tip: Chris Hopkins.