Wednesday, April 27, 2011

CFK announces project to cap land ownership for foreigners

President Cristina Fernández de Kirchner delivered a televised speech at the Government House this afternoon, announcing several new reforms, including the proposal of a law which will cap land ownership for foreigners at 20%.

The President revealed that she intends to send the new property law proposal dealing with land possession to the Congress with hopes of, “conserving a national command, rather than State.”

The new law, if approved by Congress, will restrict foreigners land purchase ability, reducing it down to just 1,000 hectares.

“It’s a law which hopes to conserve the national command over land ownership, as it is aimed at Argentines, especially those who have the capacity to invest in and implement land production,” the President said during the speech.

She further affirmed that the project to be put forward is “open to negotiation” and established “limitations over thousands of hectares of land bought by foreigners.”  

During the same speech she maintained her dedication to the "country" and the "people", but also "with whom hasn't been here for exactly six months," referring to her husband, the ex-president Néstor Kirchner, who passed away suddenly in 2010.