They always raid NHT… at least this time I’m getting ‘1.5’
Dear Editor,
The first raid on the National Housing Trust (NHT) by the People’s National Party (PNP) Government was in 2002 for the Emancipation Park development.
Then $5 billion was taken from the NHT to finance the education sector transformation programme.
Prime Minister Portia Simpson Miller, in 2006, then took $15 billion for the Inner-city Housing Project.
In 2008, the Jamaica Labour Party (JLP) attempted to take $45 million for a drought relief programme.
In 2009, the JLP attempted a raid of $500 million to consolidate the budget before the International Monetary Fund agreement, but was advised by the solicitor general that it was illegal.
From 2013-2016 a total of $45.6 billion was taken for budgetary support.
Now, in 2017, the JLP continues to take $11.4 billion annually. This time under a new IMF programme and towards the ‘$1.5-million tax break’.
The PNP spends NHT money for us, while the JLP lets us spend the money for ourselves.
The NHT rakes in billions annually in profit, then sits on it. While I don’t support any government raiding it, if no money was there to be taken the governments would’ve found somewhere else to raid.
According to a population and housing census (2011) by the Statistical Institute of Jamaica, 21 per cent of our population squat, and some 20 per cent of our population pay rent. There are over 450,000 NHT contributors and some 300,000 do not qualify for real benefits. Finance Minister Audley Shaw said in his budget presentation that 397,083 people won’t contribute to PAYE anymore, that’s more the 129,000 people who didn’t contribute to PAYE back in 2015 when Dr Peter Phillips increased the threshold from $557,232 to $592,800.
Under the JLP’s $1.5-million tax break over 250,000 people stand to benefit in total, the JLP Administration wants $11.4 billion to help fund the ‘1.5’. As an NHT contributor I’d rather that, because I’m gonna benefit from the tax break. So this time I’m actually getting something, since it’s hard to negotiate the NHT red tape for a guy like me to qualify. So that extra money in my pocket can be used or saved for the future.
Under the PNP the money was spent on things like the education transformation, but also sweetheart deals and wastage. This time I know the full story.
Teddylee Gray
teddylee.gray@gmail.com
