'Landownership more important than tax revenue'- Dr Wheatley on Stamp Duty Waiver
“I do agree that we need revenue and we have to find ways of increasing revenue but even more important than that is land ownership,” Dr Wheatley, who also holds the portfolio of Minister for Education, Culture, Youth Affairs, Fisheries and Agriculture, stated during the Second Sitting of the Fourth Session of the Fourth House of Assembly (HoA) on March 10, 2022.
Land ownership ‘essential to true independence’- Dr Wheatley
Dr Wheatley was giving his contribution to the debate of the Stamp (Amendment) Act 2022, which sought to waive the payment of Stamp Duty on land and property sales or transfers for first-time land or property owners who are locals or belongers.
Referring to the philosophy of the late African American human rights activist Malcom X, Dr Wheatley said the activist had said land is the basis of all economic security, which in terms improve social security.
According to Dr Wheatley, Malcom X said land is essential to freedom, justice and equality and that land [ownership] is essential to true independence.
Dr Wheatley said even though the VI is an overseas territory of the UK, the VI people have an independent mentality and an independent way of going about their affairs.
“And that independence has been the basis, in my view, of our success. And a great deal of that independence, I argue, has to do with the relationship to the land.”
Stamp Duty waiver sales & total exemptions
Premier and Minister of Finance Hon Andrew A. Fahie 9R1) had said, for the period May 2020 to December 2021, there was a total of 513 sale transfers and the total Stamp Duty dollars exempted on the sales totaled $5,543, 481.
“That is thousands of dollars that each of those Belongers was able to save and which is money they could have applied to developing their property, seeing to the needs to their family or put into some other useful purpose, especially given the hardship caused by COVID-19, the worst pandemic to hit the world in over 100 years,” Hon Fahie said in the HoA on March 10, 2022.
.png)
.png)
.png)
.png)
.png)
Follow Us On
8 Responses to “'Landownership more important than tax revenue'- Dr Wheatley on Stamp Duty Waiver”
"Independent vs Independence
Do you really know the difference between the word Independence and independent? Seeing that you and many don't, allow me to enlighten you.
In the English language when the prefix in is placed before a word, (example decent) it tell of the opposite of the word. Dependent means being in need of others support. Question: How does ownership of land makes us independent when we depend on others for finance, and other goods to develop the land?
To make a long story short. No one is independent. We all need God, and each others on a day to day basis.
Don't forget, when you needed a vote you depend on us. We responded. We need work to help us develop the land that we have title to. Release more of our money to us so that we will be able to develop our lands. But ownership of land do not make us self sufficient.
Stop your political propaganda spreading, and empowering the rich unjustly.
Independence is a political word, not a reality.
You are minister of Education. Please focus on that topic for a bit will you.