News | Dallat: FSA must address Orange land deals

Dallat: FSA must address Orange land deals

The SDLP MLA for East Derry has called on the Financial Services Authority (FSA) to begin an investigation into the Orange Order following disclosure that they have been involved in setting up financial companies to buy up land and property to prevent it being sold to Catholics.

He said: “There were shocking disclosures in the BBC ‘Spotlight’ programme where it was openly admitted by Drew Nelson that the Orange Order has been actively involved in raising money to prevent land and property owned by Protestant families falling into the hands of Catholics. This is a serious issue which must attract the attention of the Financial Services Authority (FSA). which since 2010 has a statutory responsibility to oversee organisations operating as financial institutions. 

“It is shocking to learn that the Orange Order is now operating on a large scale to distort the land and property market in a sectarian manner. 

“This organisation has attracted millions of pounds of money from various sources to improve its image and better inform the public of its ‘non-sectarian’ activities as a religious and cultural organisation.  Now we learn that it has been up to the neck in raising millions of pounds to prevent an open and free market place for the sale of land and property.

“This campaign is not confined to the border areas but operates across the North where there have been substantial sums of money drawn down from ‘investors’ who are largely business people who service the whole community.

“We are now 17 years into the development of new political institutions which were intended to create a neutral environment free from sectarianism. These revelations must be depressing for many people in both communities that are working hard to break down barriers and bring people together in a spirit of reconciliation and peace.  The Orange Order is actively working to prevent a free market where property and land is bought and sold on the basis of market price.”

John Dallat MLA

028 29541880

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