Venezuelan President Hugo Chavez’s latest domestic policy is a plan to seize yachts, as they are owned by wealthy ‘fugitive bankers’, and use them instead for tourist voyages around his country’s coastline.

He also announced on TV that he plans to takeover mansions on Los Rocques, a beautiful Caribbean archipelago off his country’s northern coast, popular with yachtsmen and convert them into affordable hotels for domestic tourists.

‘The upper-class bourgeoisie privatized all of that and that’s what we are going to expropriate,’ said Chavez, who was speaking on the program Dando y Dando.

As The Financial Times points out, Venezuela has been struggling to attract foreign tourists because of the country’s high crime rates and the government’s aggressive foreign policy statements.

Chavez is preparing for an election next year.