How a Territory lost its farming lands in a furtive privatisation rip-off

So what are we to conclude from all this?

My view is that the ACT had "been sold a pup" in terms of the leasehold system inflicted on it at foundation. The leasehold system is not well understood, and does not lead to the outcomes it is supposed to. Fiascos related to the leasehold system (apart from the current one) have included the Narrabundah Caravan Park sale, controversies about lease purpose changes, betterment/developer taxes etc.

The rural lessees themselves did nothing wrong. They were entitled to lobby government in pursuit of their interests, and it was true that short term leases provided little incentive for lessees to look after a rural property.

The other side of the coin is that short term leases can work if landlords properly manage their rural leases. The reality in the ACT was that the relevant government department (either the former Department of Territories or its counterpart in the ACT Government) did not have the expertise or resources to put its rural lands on a proper commercial footing. Despite this, given the importance of land sales to the ACT Budget, it was stupid for the ACT to privatise its rural leases the way it did. If the leases were to be privatised, this should have been on terms much closer to market value, and strategically located properties should have been retained.

The sad thing is that there is no accountability for what was done. The problem is that all sides of politics were complicit, and no politician wants to criticise their own side. The ACT public, which had a major asset ripped-off from under their noses, seems to be largely ignorant and entirely ambivalent.

Citizens get the politicians they deserve.