Thanks for bringing this information to the public.
SIDEBAR: CORRECTION
With apologies to readers, this is to correct my figures in relation to the amount of Public Money which TTMF received in relation to the 2% subsidised mortgage programme. The figures disclosed in TTMF’s Summary Financial Statements are actually liabilities, being the reducing balance on the original allocation of $200M for this programme.
The recalculated figures for TTMF’s recovery of 2% mortgage subsidy 2007 to 2014 are
| YEAR | SUBSIDY (cumulative) |
| 2007 | $.9M |
| 2008 | $5.3M |
| 2009 | $16.5M |
| 2010 | $34.1M |
| 2011 | $52.7M |
| 2012 | $70.4M |
| 2013 | $87.4M |
| 2014 | $105.2M |
These figures are far less than those I cited in my article, since only $105.2M has been drawn from the original allocation of $200M, as against my erroneous claim that $1,227.5M of Public Money had been spent on this subsidy.
Last week I examined housing subsidy to illustrate the ways in which Public Money is used to provide better housing opportunities.
The…
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Dennise Demming 