Thanks for bringing this information to the public.
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
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.
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