Edmond Campbell, Senior News Coordinator
DESPITE HOWLS of protest from the Opposition, warning the Government against touching National Housing Trust (NHT) or National Insurance Scheme (NIS) funds for other purposes, Finance and Planning Minister Dr. Omar Davies says he is still taking a serious look at consolidating statutory deductions to provide greater support to the education sector.
In his contribution to the Budget Debate last week, Opposition Leader Bruce Golding warned the Government to "keep your sticky hands off poor people's NIS money and Housing Trust money."
Responding to the Opposition Leader, while closing the Budget Debate in the House of Representatives yesterday, Dr. Davies said what is being proposed is not to rob the NHT but to "legally" reduce the percentage of wages allocated to that institution and direct these additional resources to another fund created to transform the sector.
FIVE MAIN STATUTORY DEDUCTIONS
At present, there are five main statutory deductions, including the PAYE, NIS, NHT, HEART and Education Tax. Deductions contributed by employers amount to 10.5 per cent of the total wage bill and 5.5 per cent for employees, giving a total of 16 per cent of the wage bill.
The only significant change, according to Dr. Davies, would involve an adjustment in the allocation of 16 per cent of the wage fund to increase the amount available to education.
Dr. Davies said no firm decision has been taken concerning the new levels to be assigned to the NHT or the amounts to be allotted to education and training.
The Finance Minister invited the Opposition, special interest groups and the public to submit recommendations as to how this fund for education and training should be governed, and how allocations should be made to different areas of need.
