No increase for HDC homes despite budget cut

DESPITE his ministry receiving less money than it did in the previous fiscal year, Housing Minister David Lee said there will be no increase in the cost of government homes, as the ministry moves toward public-private partnerships to sustain its projects.

Speaking to reporters outside Parliament on October 23, Lee said the Housing Ministry was allocated $600 million for fiscal 2025/2026, down from $750 million in 2024, about a $150 million or 20 per cent reduction. However, he insisted this cut would not affect the ministry’s ability to deliver on its housing commitments.

"While housing would have received close to $600 million, it doesn’t mean it will hamper me and my ministers from delivering, because we are not looking solely at state funding," Lee said.

He explained over the past five months, he has been working with the ministers of finance and planning to secure funding from international sources, reducing reliance on government guarantees or loans.

Asked whether the ministry’s new public-private partnership model would lead to higher housing costs, Lee was adamant prices would remain stable.

"No, no, no, no, no, no, no. We will be much more efficient. We had a lot of wastage that transpired over the last ten years under the previous government, so I will be running a very tight ship," he said.

Lee also gave the reassurance that citizens can expect greater value for money from his ministry.

"The last government used to use the term 'value for money,' but we are ensuring it actually means something," he added.

He expressed disappointment at not having the opportunity to make his full contribution during the parliamentary debate.

"I didn’t get the chance to speak in Parliament. I had my five-minute opening ready," he said, hinting he had additional information to share on contracts and previous housing arrangements.

"If they ask me certain things about contracts, I have a lot of information I can share. You know, there’s a saying: 'Some hotels have five stars, some have three, and there are a lot of fours.'"

Commenting on the ongoing Standing Finance Committee deliberations, Lee criticised what he described as the opposition’s lack of depth in their line of questioning.

"I’ve done this for ten years. You’d think they would have more experience and ask questions with more substance; instead, they have wasted a lot of parliamentary time with semantics."

Lee noted the committee meetings are expected to conclude by the evening of October 25.