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!

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