News from the OPM

“The buy-back clause will give mortgagors the option to sell the property back to the NHT after a determined time. The Trust may re-purchase the unit for sale to its contributors.  The mortgagors who sell their unit to the NHT under this arrangement will be allowed to access a new benefit from the NHT, in full, towards the acquisition of a new home.” -Prime Minister Holness  -------------------------------------------------------------------------------------------- Prime Minister Andrew Holness has announced significantly improved policy changes under the National Housing Trust (NHT) aimed at addressing affordable housing and supporting the recovery of Micro, Small, and Medium-sized Enterprises (MSMEs) and charitable organizations. Delivering his 2024/2025 Budget Presentation on Thursday (March 21, 2024) in Parliament, Prime Minister Holness announced the introduction of the Revised First Step Housing Programme. This new policy comes with a novel buy-back clause to help significantly address the pressing need for affordable housing. Under this programme, the NHT will develop one-bedroom apartment complexes, particularly within or near urban centers, as starter homes. These apartments will be made available to contributors via sale agreements with an optional buy-back clause. “The buy-back clause will give mortgagors the option to sell the property back to the NHT after a determined…

“We believe everybody must have access, but we go a step further, I am happy to announce that the government will be upgrading a number of beaches across the island for public access.” - Prime Minster Holness  -------------------------------------------------------------------------------------------- Jamaicans will have greater access to improved facilities at public beaches across the island. Prime Minister Andrew Holness has unveiled plans to upgrade several beaches across Jamaica, ensuring public access. This comes after many years of limited beach access to locals under previous administrations. At least nine (9) beaches will be upgraded and another major beach park development is coming to ensure Jamaicans have access to areas to spend leisure and family time. The Government has completed the ground breaking Beach Management Policy which is focussed on preserving and sustainably managing Jamaica’s beach assets for current and future generations. “One thing must be certain and we must be unequivocal, Jamaicans are entitled to access their beaches.  But one thing we know; there is one thing to speak about access, there is another thing to actually enable access. We believe everybody must have access but we go a step further, I am happy to announce that the government will be upgrading a number…

"We are far advanced in developing other critical national projects to ensure access to reliable and potable water for all Jamaicans.” -Prime Minister Holness  -------------------------------------------------------------------------------------------- Prime Minister Andrew Holness has moved decisively to address Jamaica's water supply issues by allocating JA$1 billion to improve rural water supply systems. The Government will also invest J$409 million dollars to upgrade several minor systems. The funds are designated for immediate water solutions to ease the burden on residents, especially in rural communities. Additional funding will also directly benefit residents who rely on natural sources or local supply systems in areas such as Riversdale, Spring Gardens, Maroon Town, Stepney, Rocky Point unplan settlement, Petersfield, Fallen Spring/Bruck Way, Bamboo, Orange Bay/Crystal Spring, Cascade Section, Non-Such, and Lowe River/Mendez Town. A portion of the funds will be used to purchase pipes to assist the National Water Commission. Making his 2024/2025 Budget presentation in Parliament on Thursday, Prime Minister Holness highlighted that significant progress has been made in addressing water scarcity through partnerships such as the household water storage plan, supported by the Inter-American Development Bank (IDB). "This project targets the 14 worst-affected constituencies from last year’s drought. It seeks to install 3,000 rainwater harvesting systems in…

"My administration is committed to dismantling barriers to education, healthcare, employment, and housing, and ensuring access to opportunities for all Jamaicans." - Prime Minister Holness   -------------------------------------------------------------------------------------------- The Andrew Holness Administration has moved to significantly address intergenerational poverty and close the wealth gap in Jamaica with the launch of a novel fund for children. Prime Minister Andrew Holness has announced the establishment of the Jamaica 60 HOPE (Hope, Opportunity, Prosperity, and Empowerment) for Children Trust Fund. This initiative is part of the Government’s targeted intervention to reduce social gaps in the country. Making his contribution to the 2024/25 Budget Debate on Thursday (March 21), Prime Minister Holness said: "Beyond unemployment insurance, we must also invest in programmes that create opportunities for individuals and families to escape the cycle of generational poverty. Thousands of our children in low-income families reach adulthood without any household savings to give them a start in life. This perpetuates the cycle of poverty. We have to break this cycle." The Jamaica 60 HOPE For Children Trust Fund is designed to provide each eligible child with a long-term savings account, funded through annual contributions from the Government, parents, guardians, or other donors. The accumulated funds, including interest, will…

“This office is there to carry out a function of the State that continues regardless of who is the government or what the political policies are. This is about the establishment, the protection and the utility of citizens’ identity, citizens’ records, and the civil registry within which these are entailed and protected." -Prime Minister Holness -------------------------------------------------------------------------------- In a historic move, the government of Jamaica has named a nine-member Board for the National Identification and Registration Authority (NIRA). Prime Minister the Most Hon. Andrew Holness on Friday  (March 15) met with the newly appointed nine-member board of the National Identification and Registration Authority (NIRA) at Jamaica House, where he charged the members to ensure the efficient operation of the entity. The historic establishment of the Authority is a precursor to the launch of the National Identification System (NIDS). This marks a significant milestone in Jamaica's journey towards enhancing citizen services and strengthening identity protection.  "This is so critical for Jamaica to be able to fully become a digital society and not a digital society where there is a digital divide where only some people can participate and others can’t," Prime Minister Holness emphasized. The nine (9) member Board is chaired by the Hon. Bishop Conrad…

“If you are honest with yourselves and look at what the government has done, we are the only government that has made investments in improving infrastructure and in dealing with the issues that affect people.” - Prime Minister Holness -------------------------------------------------------------------------- More than half a million residents in Kingston, St Andrew, Portmore, and St Catherine are set to benefit from the expansion in water supply from the new Rio Cobre Water Treatment facility. The move is part of the government’s commitment to improve archaic water supply infrastructure and give more people access to greater volumes of the precious commodity.Prime Minister Andrew Holness says improvements in water are part of the Government’s mission and commitment to improve the long-standing situation and implement sustainable water solutions.In his address at the ground-breaking ceremony yesterday (March 14) for the construction of the modern treatment facility, Prime Minister Holness acknowledged the challenges faced in the past, particularly the delayed implementation of infrastructure projects due to redirected funding to address severe drought conditions.“This [Rio Cobre Water Treatment Plant] was intended to be a medium-term initiative geared towards meeting the growing water supply needs in St Catherine as well as reducing the shortfall between the demand and supply…

“We will leverage our economic stability to usher in the largest ever period of public investment designed to address the problems experienced by Jamaicans every day.” - Nigel Clarke, Minister of Finance, and the Public Service.  --------------------------------------------------------------------------- The Jamaican government is listening. That is the message being sent by the measures announced to stimulate economic growth and further ease economic burdens. Prime Minister Andrew Holness has described the budget as one to build a caring economy. In opening the 2024/2025 Budget Debate in the House of Representatives on Tuesday (March 12) Minister of Finance and the Public Service, Dr. the Honourable Nigel Clarke, announced a series of initiatives to enhance the lives of Jamaican citizens while remaining fiscally prudent so as not endanger the Jamaican economy. Under the leadership of Prime Minister Holness, supported by the economic management of Minister Nigel Clarke, Jamaica has been able to present a budget of with no new taxes for 7 consecutive years. This has been possible due to the government’s emphasis on growth and economic stability even in the face of global challenges and external shocks such as the Covid-19 pandemic, and inflation. The 2024 budget features key announcements totalling 1.3 trillion JMD including: The Removal of guarantors for…

“We are running the economy in such a way that we will care for the most vulnerable and the poor.” -Prime Minister Holness --------------------------------------------------------------------------------- Poor economic management, a soaring inflation rate that reached 77%, government borrowing at high interest rates crowding out businesses, low growth, and the devastating FINSAC crisis that wiped out the business class in Jamaica; this was the condition of Jamaica under previous administrations. Prime Minister Holness urges that Jamaica must never go down that road again as he commits to a caring economy that looks after the poor and most vulnerable. In assuring Jamaicans that the government is listening and responding to their needs, Prime Minister Holness said only a strong economy, which this administration is building, can deliver for the Jamaican people, and they must protect it. While acknowledging the real concerns raised by Jamaicans, who have been suffering for 50 years, the Prime Minister says the government has started to improve Jamaican lives and will be doing even more to meet their needs. In looking at what more needs to be done so Jamaicans can feel greater improvements in their lives, the Prime Minister highlighted that no other government has been able to create…

The Vale Royal property is over 300 years old. It was renovated in the 1980s and designated as the official residence of the Prime Minister.  In recent times, successive Prime Ministers have not used it for this purpose as the facilities are insufficient.  In 2013, the building was assessed as having significant structural problems that would limit its use. The state of repair of the building is such that routine repair work would not be sufficient, and it would require extensive rehabilitation.   Given its status as a heritage site, options for its repair or rehabilitation must be carefully considered. The Jamaica National Heritage Trust (JNHT) has proposed that the facility be repurposed to include a library and museum that would be a repository of documents and memorabilia of all Prime Ministers of Jamaica. Another proposal involves the development of Vale Royal as a protocol complex, which will host dignitaries that visit Jamaica from time to time, or as was done previously, to host functions. A team from the JNHT recently conducted a site inspection and will be submitting a report for assessment.  The Government is currently in the process of effecting temporary protective works on the building. and evaluating proposals for future use considering its…