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SIDF May Buy Some of former Sugar Lands

He added that lands must be available for the government to peruse its housing development programme and also for the government’s agricultural programme to thrive and develop.

He stated that one of the beautiful things this has allowed is the opportunity for the private sector to invest in various business endeavours.

Douglas went on to say that the government, through its housing development programme, will ensure that land has been left for the expansion of communities.

He however indicated that if at any time a developer comes up and he wants to develop the land they can buy the land and have it developed, but to protect the affordable housing programme, government will always ensure that appropriate land is there for community expansion.

The Prime Minister then made a comparison with what has taken place at the White Gate project stating that they transferred so many square miles of land to the corporation and in doing that, all of those villages that are there have been left adequate space for community expansion.

He also pointed to what is happening in that area, in terms of development, where there is Beamount Park and La Vallee and Kittitian Hill, which are all locally owned.

He added that is the same thing that is happening with the land for debt swap just that they are taking it from different smaller sections and from different parts of the island.

Douglas then went on to say that if he were to have his way the lands at La Vallee would have been included in the swap and he would allow the bank to own it and sell it, instead of government having that problem of finding a buyer or developing the project itself.

Dr. Douglas also announced that after the land swap for debt would have been completed the national debt should fall below 100% GDP.

According to the guidelines by the ECCB debt should be sustainable at about 60 % per GDP, said the Prime Minister.

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