The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

DNA Leader Branville McCartney is calling for land reform in the Bahamas.

“The economic success of all countries is determined by the availability and judicious use of the four essential national assets: food, energy resources, land and human capital. The Bahamas has an abundance of all of these assets but we have not availed ourselves or made the best use of them,” he said.

Mr McCartney said the term Crown land needs to be changed to State land because it belongs to the Bahamian people and not the Crown in England.

He said that all state land should be rezoned as residential, commercial, industrial, touristic, farmland, wetlands and forestry.

He suggested that:

• All State/Crown land should then be placed in a National Land Bureau mandated by Government but managed by the private sector.

• The Bahamas Mortgage Corporation and the Bahamas Development Bank would then be re-capitalised with funds from the Government, the National Insurance Board, pension funds and the private sector. It would also be necessary to repopulate the management and board of directors of these financial institutions.

• The BMC would be responsible for funding residential purchases at a rate of 3-5% interest and the BDB for all other non-residential purchases (commercial, industrial and touristic) but at a higher rate of interest (5-7%). No land zoned forestry or wetlands would be sold and any farmland would only be leased. Foreign entities would be prohibited from buying any land earmarked for tourism but, where appropriate, would be able to lease the land on a long-term basis.

Mr McCartney said that currently the office of the Prime Minister controls Crown/State land.

“This individual, singlehandedly, determines the distribution of all Crown/State Land,” he said.

“There is never any public disclosure of these transactions, the criteria used in the allocation process, the current status of how much land is available, who the current lease holders are, whether or not the land is being used for its intended purpose and if the current lease holders are up to date on their payments. Such system lends itself to abuse, corruption and nepotism.”

He said this approach would provide the opportunity for many Bahamians to buy land relatively inexpensively and have a chance to own a piece of the rock and build a home.

He noted that another positive economic impact of this approach would be increased competition in the banking system for mortgages, which would result in lower mortgage payments.

The DNA leader said there were acres and acres of generation property all over The Bahamas, especially in the Family Islands.

He said: “Once this problem is resolved there will be hundreds of new Family Island millionaires who will then have access to land which they will be able to sell, build on or use as collateral for whatever purpose; eg increased economic activity in the country.”

He believes that such land reform would benefit all Bahamians, the Government and the Bahamian economy. He also said there must be diversification of the economy.

Mr McCartney said a DNA government would:

• Support and expand agriculture and mariculture with a commitment to reducing The Bahamas’ $500 million food import bill.

• Establish an aircraft and maintenance industry.

• Encourage the growth of a manufacturing industry both in Grand Bahama and throughout the country.

• Promote economic empowerment for all, by providing a high quality educational system.

• Promote cultural tourism by investing in local talent, entertainers, heritage and amusement parks.

• Expand sports, religious and medical tourism, including medical schools, clinical trials, less expensive surgical and medical procedures and therapeutic convalescence.

He said the success of Grand Bahama was important to the country.