Milei guts bill to ease property laws in face of public uproar

Argentina’s President Javier Milei has been forced to water down a bill aimed at easing limits on foreign land ownership due to intense public backlash. The legislation, which was introduced in March, initially eliminated caps on foreign land ownership, but a revised version introduced this week proposed raising the limit to 25 percent at the national and provincial levels.

However, following a meeting of Senate bloc leaders on Wednesday, it was decided to shelve the portion of the bill related to increasing the cap on foreign land ownership. The decision was made in an effort to reach a greater level of consensus, according to a statement from Senator Patricia Bullrich’s press office.

The surviving parts of the legislation would still expedite evictions, ease property recovery after the state takes ownership, and remove land-use restrictions after fires. The bill is set to be voted on in the Senate on Thursday.

The move comes after widespread protests and criticism from labour unions, opposition leaders, and public figures, who have accused the government of attempting to sell off the country’s land for profit. The issue has also been linked to the ongoing territorial dispute over the Falkland Islands, with some arguing that the legislation would compromise Argentina’s sovereignty.

The government’s decision to withdraw the most contentious measures is seen as a response to the public uproar and President Milei’s low approval ratings. The outcome of the bill is being closely watched, as it is viewed as a test for a broader electoral reform that could impact the 2027 election and the country’s economic stability.

Article and image source: batimes.com.ar