News

Budget 2018: Twyford’s partial win

Housing Minister Phil Twyford hoped to double Labour's promise of 1000 new state houses a year. He only got an extra 600.

Six thousand and four hundred state homes will be built over the next four years, equating to 1600 builds a year.

Housing Minister Phil Twyford trumpeted the numbers, saying they exceeded the Government’s earlier commitment to build at least 1000 state houses each year.

But the number is lower than Twyford’s hoped-for 2000 homes a year.

The houses will be funded largely through Housing New Zealand borrowing up to $2.9 billion from third parties and investing $900 million from its own operations, as well as an additional $234.4 million in operational funding from Budget 2018.

Twyford said that the register of households waiting for a public house now stood at 7890 plus an additional 1805 waiting for a transfer to a more suitable public house.

The Government also announced a large insulation programme aimed at improving “tens of thousands” of owner-occupier households.

The program will be delivered by grants from the Energy Efficiency and Conservation Authority with $142.5 million in new operating funding allocated over the next four years.

We recently launched a crowdfunding campaign to sustain and expand LockerRoom, our section dedicated to covering New Zealand women in sport. We created LockerRoom to fill a gap in sports journalism, sharing inspirational, compelling and important stories that would otherwise go untold. To join our team as a supporter, simply click the red button.

Comments

Newsroom does not allow comments directly on this website. We invite all readers who wish to discuss a story or leave a comment to visit us on Twitter or Facebook. We also welcome your news tips and feedback via email: contact@newsroom.co.nz. Thank you.

PARTNERS