A new law will set Housing New Zealand’s social mandate in legislation, and make clear the state home provider should not have to return a dividend.
It will also change the name – slightly – from Housing New Zealand Corporation to Housing New Zealand (HNZ).
Housing Minister Phil Twyford campaigned on more fully reforming the agency, bringing it back into the fold as a Government department instead of a quasi-independent crown entity.
But upon entering government Twyford decided against such a move, saying HNZ were already moving in a direction he liked and he didn’t want to add too much disruption.
On Friday he announced a move towards setting HNZ’s social obligations – basically to be the landlord of last resort for the country’s most vulnerable – explicitly in law.
This would also set out clearly that HNZ should not be required to return a dividend, as it did in some recent years to the National-led government.
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Source: Stuff NZ