With the government sitting on CI$722.6 million in cash and deposits and a first-quarter surplus coming in at $58.3m ahead of budget, opposition MPs are questioning how regular Caymanians are benefiting.
Joey Hew, Kenneth Bryan and Roy Tatum argued this week that a surplus on paper means little to families being squeezed by rising grocery bills, climbing rents and high fuel costs.
With inflation now projected at 5.3% for 2026 – more than double the previously estimated 2.6% – the opposition said government has both the means and the obligation to act.
Rising fuel costs are felt not just at the pump but flow through into food prices and everyday household expenses, the MPs said on Radio Cayman’s ‘For the Record’ programme on 13 May.
They outlined a series of measures they intend to formally call on government to implement.
These include maintaining and expanding the existing fuel duty reduction, delaying the planned Water Authority rate increase, and introducing duty waivers on food and medicine imports.
The opposition also called for a cost-of-living adjustment for civil servants, arguing that in the absence of a direct taxation system, raising public sector incomes is one of the few tools available to help working households manage rising costs.
The unaudited financial figures for the three months ended 31 March show core government revenues of $624.9m, beating the budget by $40.4m and exceeding the same period in 2025 by $70.7m. Net assets reached $2.9 billion.
The surplus was driven primarily by financial services fees and property revenues.
Mutual fund administrators’ fees came in $8.3m higher than planned and private fund fees beat forecast by $7.9m.
Not every revenue line delivered as budgeted, however – a detail noted by opposition members.
Deputy opposition leader Bryan underscored that import duties were short $2m, as were work permit fees.
“Some people may say this is good, but some people may say this is bad, depending on how you interpret it,” Bryan said, referring to the work permit performance.
“You’re talking about almost 10% [under budget]. That is significant. It’s an indicator of your economy.”
Driver’s licence fees also came in at $1.9m below projection. Bryan attributed this to the increase in fees, resulting in the public altering its behavior to save money.
“What it means is the government had hoped to raise this money from these particular divisions, and they didn’t do it,” Bryan said.
When measured against last year’s financial results, however, many of the fees that came up short actually performed better.
Work permit fees were $1.9m higher than the same quarter in 2025, and “other” import duties were $4.7m higher year-on-year.
On driver’s licences, the report notes the 2026 figure is broadly on par with the prior year. Coercive revenue, coming in at $605.5m, was also 13% higher than the first quarter of 2025.
