Coalition’s house rental initiative risky

Dear Editor,

 

The APNU+AFC manifesto released on 30th April certainly raises as many questions as it provides nebulous policies. In every section of the document flowery language is utilized in place of substance, glorious outcomes are promised with no pathway to achieve same identified.

One phrase comes to mind constantly “hanging your hat where your hand cannot reach it”. While living beyond your means is a personal decision with consequences to yourself and family, attempting to do so for a nation have a much deeper impact.

Guyana has barely recovered from its last Socialist experiment, surely we are not going to repeat the mistakes made in the seventies and early eighties? A policy of tax less and spend more will lead to an empty treasury…again!

No less than twenty new commissions are planned to give recommendations in different areas, simple question, what have all these politicians been doing for the last two decades?

Many have been members of Parliament, collecting salaries and enjoying all the perks and benefits of office and yet should they be elected, would need to set up commissions to offer solutions to problems facing the nation? What were they doing all this time we the taxpayers have been paying them?

Foundation 13 refers to reform of the public service, in a not so subtle manner, the document clearly states that the country needs a politically neutral public service which would be achieved by reform. I can see no practical way that this can be achieved. All this will serve to do is provide an excuse to “rationalize” supporters of the PPP from the public service, surely they would not be firing their own supporters! All citizens of Guyana have a right to hold political views and affiliations; it is worrying to see the return to party paramountcy disguised as policy.

Another major concern is in the area of Housing, specifically, the coalition’s House Rental Initiative, every study of housing market crashes clearly show the dangers of speculative buying (for rental instead of shelter). A quick look at the housing crashes in Ireland and Spain which were fuelled by speculative buy-to-rent investors will confirm the disastrous long-term effects of such actions. To base a policy on this is extremely short-sighted and ultimately dangerous. The current policy employed by the PPP/C government of one house lot per applicant and disqualification of applicants who already own property is a far more equitable system that also guarantees stability and growth.

I would suggest home owners and prospective home owners make a considered choice on May 11th 2015. The value of your most important asset is at stake, speculators are known for selling in droves, or worse, simply walking away from their bets, leaving lenders and taxpayers to cover their losses.

 

Yours faithfully,
Robin Singh