“This could be economically beneficial”
Economic Freedom Modernization Act of 2024
Rationale
Wëlstere's producers and businesses grow when markets, not permits, decide what gets built and sold. This Act lightens banking rules, opens foreign land and agricultural trade, moves state industry toward private ownership, and clears the way for new stores to open.
Proposed Changes
| Law | Previous | Proposed | ||
|---|---|---|---|---|
| 1 | Foreign Land Ownership |
Foreign purchases require government approval
|
No restrictions on foreign land purchases
|
|
| 2 | Banking & Financial Regulation |
Strong prudential oversight
|
Light-touch regulation
|
|
| 3 | Public Ownership of Key Industries |
Private, with strong regulation
|
Privatise and lightly regulate
|
|
| 4 | Agricultural Market Regime |
Mixed regime: tariffs on some staples, intervention only in a crisis
|
Open agricultural trade; intervention only in emergencies
|
|
| 5 | Retail Planning & Licensing |
Planning permission required for large stores; otherwise open
|
Presumption in favour of new stores; no size limits
|
1
Foreign Land Ownership2
Banking & Financial Regulation3
Public Ownership of Key Industries4
Agricultural Market Regime5
Retail Planning & LicensingProposer
Party
Liberal Platform
Liberal Platform champions freedom, education, free markets, and equal opportunity in Wëlstere. We believe in empowering individuals, encouraging innovation, and keeping government secular and limited. A freer Wëlstere is a more prosperous Wëlstere.
Core pillars
Katrin Zimmermann
Minister of Foreign Affairs · Age 47
A former labor organizer turned behind-the-scenes strategist, Katrin Zimmermann built her reputation as the architect of hard-won legislative victories while avoiding the glare of public praise.
Timeline
-
Draft5 May 2024
-
Vote Open16 August 2024
-
Vote Closed15 October 2024
-
Became Law15 October 2024
Vote tally
Live tally across each chamber. Weighted by seats held.
Federal Chamber
PassedFor: 31 / 60 seats (51.7%)
Against: 0 · Abstained: 0 · Not voted: 29
| Party | Seats | Vote | Reason |
|---|---|---|---|
| Liberal Platform Proposer | 31 | Yes | No reason given |
| Wëlstere Démocratic Alliance | 0 | Yes | This could be economically beneficial |
| Empty seats | 29 | Not voted |
President of the Republic
PassedFor: 0 / 1 seats (0.0%)
Against: 0 · Abstained: 0 · Not voted: 1