One MLA questions whether Caymanians are reaping the benefits of the so-called financial sweet spot. That’s how Premier Hon. Alden McLaughlin in the past has referred to Cayman’s economy.
But Deputy Opposition Leader Alva Suckoo said many people are not better off and he wants a social mobility report to find out why.
“I think they should they’re not getting a trickle down, but they were supposed to get from all this development and when you look at things like the cost of health insurance the cost of home insurance fuel prices and on other things that are impacting the average Caymanian I don’t think many of us are better off,” said Mr. Suckoo.
Mr. Suckoo said that it seems that it is hard for Caymanians to move up the financial ladder.
“So for example moving from middle-class to rich or from poor middle-class why is it that we are not feeling the impact of all the things that the government are saying is good for this country and why is that not affecting us in a positive way why does it seem like others are benefiting but we are not,” said Mr. Suckoo.
Mr. Suckoo said that based on the cost of living, the majority of local workers are underpaid.
“But we do have is that almost 50% of the working population in this country and less $2400 a month,” said Mr. Suckoo.
He said he wants a report on the root of the issue so lawmakers can make informed and policies.
” This report that I’m asking to be done this social mobility report like Yolande Forbes report will identify the root causes of these issues,” said Mr.Suckoo.
He said right now, it feels like the government’s economic policies are impacting everybody but Caymanians.
Mr. Suckoo is expected to ask for that report in the current sitting of the LA.
Cayman 27 reached out to Premier’s Office for a response to Mr. Suckoo’s comments. We’ve yet to hear back.