Lower NHT Contribution, Increase Education Tax

Published also by the Jamaica Gleaner

I love politics, not for the love of politicians, but for the possibilities of transformation that exists in good governance.

Now, think with me.

The National Housing Trust (NHT) has always had lofty reserves, yet affordable housing remains an illusion for many. How is it that privately owned developments are going up left, right and centre, but the National Housing Trust either builds at a snail’s pace or not at all?

If the NHT is overfunded, why not change the payroll tax allocation? Why not lower NHT contribution to one per cent and bump education tax up to three per cent? For the 2017-2018 financial year, the Students’ Loan Bureau received approximately $2.8 billion from education tax, so I imagine an extra $1.4 billion towards higher education will have a significantly positive impact on many lives.

For instance:

• More applications can be approved?

• With more funding, lower interest rates can be applied to approved loans.

• Extended payment terms can be given to beneficiaries, allowing them to keep more money in their pockets on a monthly basis ... and the economists can fill in the rest. If I can see this logic, why can’t they? I see this logic, can you?