Kainga Ora needs significant change
Some key facts from the independent review into Kainga Ora:
- Kāinga Ora annual operating expenditure has grown from $1.5 billion in 2019/20 to $2.5 billion in 2022/23
- Deficits forecast to grow from $520 million to $700 million
- Debt expected to grow from $12.8 billion to $23 billion. by 2028
- Cash deficit of $21.4 billion forecast over next four years, or $4,000 per NZer
- Redevelopment costs $35,000 more per home than private developers
- Rent arrears have increased from $1 million in 2017 to $21 million
Simon Moutter has a big job ahead of him!
The post Kainga Ora needs significant change first appeared on Kiwiblog.