Podcasts Other The Mike Hosking Breakfast Chris Bishop: Housing Minister on the changes coming to Kainga Ora as a review finds it's underperforming

Chris Bishop: Housing Minister on the changes coming to Kainga Ora as a review finds it's underperforming

Published: May 20, 2024, 8:10 p.m.

The Housing Minister says change is well and truly afoot at Kainga Ora as a critical independent review finds it's under-performing.\xa0

The inquiry's also found the public housing agency needs significant savings to become financially viable.\xa0

Chris Bishop has ruled out a mass sale of state homes, but indicated a total refresh of the board.\xa0

He told Mike Hosking that Kainga Ora's debt levels simply aren't sustainable.\xa0

Kainga Ora is a $45 billion enterprise for delivering Kiwis state-housing, he said, and it\u2019s done a terrible job.\xa0

Bishop says the responsibility sits with the previous board and the Labour Government who allowed it to increase debt by $10 billion.\xa0

He said that\xa0it sat around $2 billion in 2018 and is forecast to hit $23 billion in 2028.\xa0

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