Government developing home ownership scheme

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By Alfred Sasako


THE Government is believed to be developing a new home ownership scheme whereby individuals would each be able to obtain funding of up to $150, 000 to buy or build own house.

Details of the scheme are not immediately known. Island Sun was tipped off about the scheme last week.

“The government is developing a national homeownership scheme where individuals can obtain up to $150,000 to buy or build their own house.

In his Speech from the Throne to Parliament yesterday, Governor General the Rt Rev David Unagi gave some hints on the scheme.

“Shelter is a basic human right as well. This government will continue to support rural and urban dwellers to build or buy appropriate and affordable housing that satisfies the minimum acceptable living standards,” he told Parliament.

“It is recognised that housing contributes to a decent family life and the productive output of that household. To that end the Government will develop a National Housing Policy.

“The Government will also facilitate and implement the Strata Title Act,” the former clergyman said.

It is not clear whether the housing scheme being developed is linked to amendments being proposed for the Solomon Islands National Provident Fund.

“There are a number of legislations that this Government will bring to Parliament to achieve this policy objective. These include a reformed Trustees Act, National Provident Fund Act but a more immediate one is the Credit Union Bill which will be brought to Parliament soon,” the Governor General said.