THE National Housing Trust (NHT) is projecting that next financial year, 2017/18, it will earn $33 billion in income.

The trust projects that this will be made up from $13.8 billion in non-refundable employers’ contributions, plus interest on loans to its beneficiaries, and investments.

This compares with the projected $30.5 billion expected from the same sources this financial year, which ends March 31, and $27 billion earned in 2015/16.

Despite an increase in the trust’s expenses from $19.3 billion in 2015/16 to $21.8 billion this year, its surplus rose $19.3 billion in 2015/16 and an estimated $21.8 billion this fiscal year.

These figures, contained in the Jamaica Public Bodies’ (JPB) estimate of revenue and expenditure for 2017/18, tabled in the House of Representatives last Thursday by Minister of Finance and the Public Service Audley Shaw comes against increased public discussion about the possibility of the Government continuing to collect its $11 billion annual windfall from the trust’s accounts to supplement its budget revenue.

A red flag raised by the Opposition highlighted criticisms from its spokesman on finance and planning Dr Peter Phillips that, despite a strong stand against the introduction of the $11-billion funding in 2013 under the former Extended Fund Facility (EFF) arrangement with the International Monetary Fund (IMF), which was under Phillips’ guidance, the current government may be considering prolonging the arrangement.

Asked by the Jamaica Observer for a response to the criticisms on Friday, following his participation in the signing of the divestment agreement with Supreme Ventures Limited for a 30-year lease on tax-funded Caymanas Track Limited’s (CTL) horseracing operations, Shaw refused to comment.

“I will give a full and detailed response when I speak in the budget debate. I am not going to say anything now,” Shaw reacted.

His response was echoed by minister of state in the ministry, Fayval Williams, who has insisted that the country await Shaw’s explanation when he speaks in the debate. However, she has denied Phillips’ claim that the need for the funds resulted from the new Government’s insistence on implementing the $1.5-million personal income tax threshold for workers.

According to the public bodies book, the NHT’s projected income for 2017/18 is $33 billion, and with total expenses projected at $10.3 billion, the trust is expected to be left with a surplus of $22.5 billion.

The trust said that under its medium-term housing programme, nearly 12,000 new housing solutions (units and serviced lots) will be developed and financed by the fiscal year 2020/21. These solutions will include a mix of houses and residential lots in 42 developments in 11 parishes. The trust plans to spend $29.5 billion on housing activities, which is expected to result in commencement of 6,574 solutions over the medium-term period, and 2,159 next fiscal year.

This level of capital expenditure will result in the disbursement of $18.3 billion under several programmes, including build-on-own land, open market, construction, joint mortgage financing and house lot loans.

The NHT said that it plans to make available completed housing solutions to contributors in the lowest income bands by making them more affordable, through strategically reducing the cost of delivery.

The trust said that these strategies include improving the efficiency with which construction projects are delivered, continued partnerships with local donor agencies with respect to low income housing infrastructure and establishing a community-based construction programme for its projects.