KINGSTON, Jamaica — Opposition Leader Mark Golding has launched a vehement critique against the Jamaican government’s financial practices regarding the National Housing Trust (NHT), condemning the systematic withdrawal of billions from the housing fund for non-tax revenue purposes.
During his presentation in the House of Representatives for the 2026/27 Budget Debate, Golding revealed that the government has extracted approximately $114 billion from the NHT over the past decade, with projections indicating an additional $57 billion withdrawal planned over the next five years until March 2031.
The opposition leader emphasized the particular irony of these actions given the current administration’s previous stance. Golding recalled that Prime Minister Andrew Holness and his party had fiercely criticized the initial withdrawal implemented in 2013 by the then People’s National Party administration. At that time, the measure was introduced as a temporary four-year strategy to meet International Monetary Fund requirements during Jamaica’s severe debt crisis.
Golding highlighted the government’s hypocrisy, noting that despite previous promises to ‘ring-fence the NHT’ and prevent its resources from being appropriated, the current administration has twice passed legislation to extend the withdrawal practice throughout its ten-year tenure.
The timing of these withdrawals is particularly concerning, Golding argued, given Jamaica’s critical housing shortage. The country requires approximately 15,000 additional houses annually to address unmet demand—a need exacerbated by the recent devastation caused by Hurricane Melissa in western parishes.
The opposition leader questioned the government’s budgetary priorities, pointing out that a mere $30 billion (less than one percent of GDP) has been allocated for Melissa recovery efforts in the upcoming fiscal year. Instead of depleting the NHT’s resources, Golding advocated for empowering the institution to play a more substantial role in rebuilding resilient housing infrastructure across affected regions.
Golding concluded that utilizing housing funds to balance governmental fiscal accounts represents poor judgment, particularly when Jamaica’s most vulnerable communities face urgent shelter challenges following natural disasters.