‘NO Economic Emergency’, Says Phillips

Opposition Spokesman on Finance, Dr. Peter Phillips says there’s no economic emergency at this time which would necessitate the government utilizing funds from the National Housing Trust for budgetary support.

Last Thursday, Finance Minister Audley Shaw announced that $11.4-billion will be taken from the NHT to help finance the budget.

But speaking in Westmoreland last night, Dr. Phillips questioned the government’s decision.

According to Dr. Phillips, the PNP administration made the decision for three years to withdraw $11-billion from the Trust as part of the country’s economic recovery programme.

In an interview with Nationwide News two weeks ago Prime Minister Andrew Holness argued that the same conditions which necessitated the PNP utilizing the Trust’s funds still exist today.