Use houses to save economy
THE EDITOR, Sir:
Construction is a barometer of this nation's well-being. The sector hires more and a greater variety of workers than any other industry in this country. The National Housing Trust (NHT) should now be playing a vital and pivotal role in resuscitating this country's economy. There is need for approximately 10,000 housing starts annually. Yet, the NHT is promising to build a measly 2,400 in 2015 - not guaranteeing that they will be completed in 2015.
acting as bankers
The NHT is asset- and cash-rich to the order of $120 billion. It is apparent that they have forgotten why this institution was originally formed. Presently, they are acting as bankers making loans and grants to the Government in the billions of dollars, and making non-housing investments, some of which are destined for failure.
Employment in whatever form is what is needed to kickstart our economy. There are enough unemployed managers who can supervise the building of a far greater number of houses in 2015. House-construction jobs should be given to local contractors, many of whom are presently starving and laying off their best workers. No contractor should be given more than 30 houses to build at any one time; this will ensure that the pie is well distributed.
Because of lack of growth of our economy, the Government is taxing the daylight out of the poor taxpayers, many of whom are facing bankruptcy. Construction is the nation's saviour, and the NHT must play its role in getting the nation moving in the right direction.