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You are here: Homepage > Press Room > Press Releases 2009 > Cayman Islands Engages Media

Published 7th May 2009, 11:3am

George Town, Grand Cayman – Government on Monday and Tuesday engaged with key international media following remarks on Monday by U.S. President Obama related to the White House proposals on U.S. tax reform, which included mention of the Cayman Islands.

Minister for International Financial Services Policy the Honourable Alden McLaughlin was interviewed by BBC Radio World Report and provided comment to The Financial Times and the Caribbean bureau of the Associated Press putting forth Cayman’s perspective on behalf of the government. Minister McLaughlin’s statements from the FT were further picked up by other specialist media in the UK and Ireland, including Wealth Bulletin and FinFacts Ireland.

Minister McLaughlin’s messages focused on three areas: the contribution of offshore financial services centres like the Cayman Islands to global business and international capital flows; the negative consequences to international trade and large globalised economies of blocking access to jurisdictions such as the Cayman Islands; and a reminder that the U.S. has effective law enforcement, regulatory and tax information channels with the Cayman Islands – some dating back 25 years – with the result that Cayman offers no protection to American businesses or individuals who want to commit tax or any other crimes.

This week’s media activity coheres with the Cayman Islands Government’s larger communications and public affairs strategy for the financial services sector, which involves targeting international decision makers and opinion formers – and the third-parties that influence them – to help protect Cayman’s reputational and economic interests.

 

For more information, please contact the Financial Services Secretariat at (345) 945-5819 or via email at financepr@gov.ky.