The finance industry is renewing its campaign against direct tax in Cayman.
Cayman Finance, a lobbying group that includes Tony Travers, commissioned a report into how government can reduce its deficit called the Teather Report, after author Richard Teather.
It rules out direct tax as a solution to the country's money woes.
The report says cutting government costs is the only way to go, claiming that government massively overspends compared to similar jurisdictions. Teather doesn't go so far as to recommend how public spending should be cut, but Cayman Finance hopes James Miller will take his report into account.
Mr. Miller is heading up an official independent review into the tax issue. The so-called Miller commission was one of the conditions demanded by the Foreign and Commonwealth Office when they approved more borrowing last year.
Teather Report - Cayman 27 News Report
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