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Gov't exploring alternative to $11.4b annual NHT withdrawals for Budget financing

Published:Wednesday | June 22, 2016 | 6:04 PM
State Minister in the Finance Ministry Fayval Williams

State Minister in the Finance Ministry Fayval Williams has indicated that the Government intends to discontinue taking money from the National Housing Trust (NHT) to fund the budget saying the move was meant to be temporary.

Three years ago, through an amendment to the NHT Act, the previous government got the approval to withdraw $11.4 billion annually from the Trust for four years.

The total intended withdrawal was $45.6 billion over the four-year period.

But speaking in the House of Representatives this afternoon, Williams stressed that the measure was just a temporary one.

She said the Government was actively looking at alternative funding for the budget.

 

State minister in the finance ministry, Fayval Williams