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Will the approximately $12 million in 2025/26 and $16 million in out years saved from the termination of the Government contribution to the mortgage insurance levy associated with the First Home Loan programme be reinvested in Kāinga Ora and if not, where, if anywhere, were those savings reallocated?

Answered Question 665 (2026)
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Asked by

Kieran McAnulty

List MP · Labour Party

Question

  • Will the approximately $12 million in 2025/26 and $16 million in out years saved from the termination of the Government contribution to the mortgage insurance levy associated with the First Home Loan programme be reinvested in Kāinga Ora and if not, where, if anywhere, were those savings reallocated?

Answered by

Hon Chris Bishop

Member for Hutt South · National Party · Minister of Housing

Answer

Savings from making the First Home Loan cost recoverable in Budget 2025, alongside other savings, were reprioritised to fund new social housing places for Auckland, establish the Flexible Fund to enable up to 675 to 770 social housing and affordable rentals, and to meet cost pressures in Vote Housing and Urban Development.