The Lands Protection Act (LPA) was put in place in 1982 as a way to protect Islanders against large land purchases by corporations or off-Island entities. Limits were placed on land holdings, and a set of rules and regulations were put in place to ensure Islanders could own land and have the first opportunity to purchase land when it came for sale. Today, this piece of legislation has come under increased scrutiny as it has been seen as weak and in need of and overhaul. The Province is on record that they intend to improve this landmark piece of legislation and will be looking to the farming community to help them craft a new and improved LPA. The Federation intends to develop a comprehensive position and present this to Government when consultations begin later this winter in 2020.
In addition, land values have grown an average of 4 per cent a year since 2010. It is important that PEI as a Province be mindful of the need for land to remain valuable while creating affordable opportunities for new or expanding entrants to purchase needed land for their operation.
The PEIFA supports the Lands Protection Act and welcomes the opportunity to work with Government and the Island community to improve this important piece of legislation. The PEIFA also supports the need to examine how farmland values are not eroded while helping young farmers and new entrants purchase land in an affordable manner.