The National Housing Trust (NHT) has the budget to finance housing solutions for low-income earners who are not NHT contributors, says former Prime Minister Bruce Golding.
He made the remark while delivering the main address at the E Nadine Isaacs Memorial Lecture, which was held last week at Jamaica College in St Andrew.
In discussing the Gore Developments Limited’s legacy in the conceptualisation of housing solutions for the underserved population of Jamaica, Golding noted that, “Land ownership is an emotional issue in Jamaica,” pointing to housing challenges when it comes to securing land and land titles.
“Inflows to the NHT are robust enough to allow some leveraging to finance solutions for non-contributors. The NHT pulls in each year around $30 billion of mandatory contributions. Especially after the annual drawdowns for budgetary support come to an end in 2025, some NHT funds could be leveraged with an appropriate guarantee and treated as an investment no different from the range of instruments in which the NHT normally invests to finance housing solutions to those low-income earners who are not NHT contributors. The repayments would return the funds to the rust,” he explained.
Golding’s comments were made on Friday before employees of the State-run institution took industrial action over what they claimed was the slow pace of salary negotiations.
Golding called on the Government to put underserved populations on a path to achieve their earnest desires of having a place to live and call their own, where they can raise their families and try to better their lives.
“Yes, we must continue to provide the $16-million and $17-million two-bedroom house for those whose incomes can afford it – the teachers, nurses, mid-level managers, supervisors, and technicians. We must encourage Phillip and Chris Gore and others like them to continue to produce the quality houses they are building, which have brought so much satisfaction and made such a difference to the well-being of the thousands of their purchasers. We must salute and encourage Food For the Poor to continue to provide their modest but oh-so-welcome houses for those who are living in squalor and are unable, on their own, to do otherwise,” emphasised Golding.
“The former prime minister pointed out that the Housing Act, which was introduced in 1968, empowered the minister of housing to allow private developers to bypass the approval requirements of the planning authorities, fast-track their projects, and save costs.