Sun | Dec 16, 2018

NHT raided

Published:Thursday | May 24, 2012 | 5:38 PM

Daraine Luton, Senior Staff Reporter

The Government is to dip into the coffers of the National Housing Trust (NHT) to help to fund the budget.

The NHT is being called upon to contribute $4 billion dollars.

Some $3 billion will come from outstanding taxes being paid over to the government and $1billion will be in the form of infrastructure development for specified housing schemes.

Yesterday, opposition Spokesman on Finance Audley Shaw warned the government not to raid the NHT.

Data published in the Jamaica Public Bodies, Estimates of Revenue and Expenditure 2012-2013 indicates that the NHT’s net surplus is projected to fall from $2.2 billion last year to $451 million this year.

The Trust said the fall in profits would be because of an increase in the provision for grants and subsidies this year.