Michael Fahy recently made public statements that the way forward in addressing the cost of living is via the granting of Bermuda status. When the One Bermuda Alliance talks about “status”, it means granting voting rights and property-ownership privileges that directly affect our democracy, our economy and the future of our people.

For anyone following recent history, the granting of Bermudian status has long been rejected by the vast majority of voters.

Pressure on housing market

The claim that granting Bermuda status would assist in lowering costs of housing is farcical at best. The reality is that once granted status, persons are now entitled to purchase unlimited amounts of property — whether it is one unit or multiple units.

During the recent session of the House of Assembly on June 27, a question was posed to elected members of both sides of the aisle as to whether they can honestly say that the granting of Bermuda status would assist in the cost of living and the cost of housing.

Not one MP would support that notion — from either the Progressive Labour Party or the OBA.

So what does the granting of Bermudian status mean for working and middle-class Bermudians in terms of affordability of housing?

Simply put, it means that they will be faced with increased competition to purchase their first home. It means the prices go up, not down.

So again, how does the proposal from Mr Fahy and the OBA to give away Bermuda status assist Bermudians seeking to rent or purchase their own home?

Balance

For clarity, the country does need population growth for a myriad of reasons. However, population growth is not the same as the granting of status. The OBA used to cite the Cayman Islands’ immigration tax policies and the granting of status as examples that we should aspire towards.

Fast forward, the newly elected Cayman Government is now reversing many of those policies because this has led to born Caymanians being displaced from jobs, business opportunities and, most of all, the ability to afford housing in their own country.

The PLP will not support any immigration policy that risks repeating the mistakes of our past.

We believe in a thoughtful and balanced population strategy that brings home Bermudians living abroad, supports young families and welcomes individuals who contribute to our economy without undermining the rights of our people.

• Christopher Famous is the government MP for Devonshire East (Constituency 11) and the chairman of the Bermuda Housing Corporation