[November 11, 2009] Premier Bush on international tour Tweet Nov 11, 2009 (Cayman Net News - McClatchy-Tribune Information Services via COMTEX) -- Two days after his swearing in as the first Premier of the Cayman Islands, Hon. McKeeva Bush is away in Europe on government business. It is unclear, however, as to the extent of business he is conducting. UDP West Bay Member of the Legislative Assembly and Deputy Speaker, Cline Glidden said, "I can't really say what countries Mr Bush will be visiting but I do know that his trip is finance related. I do not have any details of the trip but we know that he is in Europe and will also be visiting the United States but I am unclear as to the details." Mr Glidden said that the Premier left the Island on Sunday 8 November. An online Reuters article has revealed that Mr Bush gave an interview at Reuters headquarters in London. According to the article, "his main concern was to explain plans for making the Cayman Islands an easier place for financial services personnel to live in." In the article, Mr Bush also said he "would like some of those 8,000 hedge funds that are registered there to be more than just brass plaques. But, when asked, he also had time to dismiss the idea of a transaction tax out of hand." He also dismissed the idea of a transaction tax. "That's an old hat. I have been hearing about it for 25 years. It's just not practicable, it will not work," he said. Mr Bush further stated, "We have looked at it and we do not think this is something that would work." Any suggestion that a tax on transactions could send investors seeking other jurisdictions was nixed by local economist and government financial services consultant, Paul Byles, who is accompanying Mr Bush on the trip. "Tax flows, and they will move somewhere else," said Mr Byles. Attempts to contact Mr Bush were unsuccessful up until press time. Cayman Net News, however, spoke with Richard Parchment, Senior Political Assistant to Mr Bush, who said, "I cannot disclose any details of the trip at this time. A press release will be issued shortly." To see more of the Cayman Net News or to subscribe to the newspaper, go to http://www.caymannetnews.com. Copyright (c) 2009, Cayman Net News, Grand Cayman, Cayman Islands Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]