ImmiMin Burch comes across very badly in these remarks to a press conference about the land license scheme.
“Don’t talk foolishness to me about foreigners owning their second house. There are a lot of Bermudians who don’t have a house.”
These are not foreigners; they are spouses of Bermudians who are on track to acquire Bermudian status. They are part of Bermudian families. They are future voters. They don’t deserve this badly handled policy never mind this nasty mistreatment.
Furthermore, by preventing these Bermudians mixed couples from buying investment properties doesn’t necessarily help those Bermudians who don’t yet own a home. Moreover, it could further contribute to the slump in Bermuda real estate prices that would affect all Bermudians … and their ability to pay taxes.
It’s hard to believe that Government is sincere in its desire to “protect Bermudian land for Bermudians” when the sale of new condos and fractional units to foreigners is a cornerstone of its tourism strategy. In fact, while raising taxes/fees on the Bermudian buyers, they have reduced them for the fractional developers and their buyers. The success of this programme will lead to more property being out of Bermudian hands; does that mean they will start blocking Bermudian mixed couples from getting licenses as some sort of “glass ceiling” is met? They have never said.
The law of unintended consequences normally finds a way to bite you on the ass.
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