He said taxpayers were having to pay billions to cover the cost of rent subsidies, student loan tax breaks and childcare.
“At the moment, we’re lucky because we’ve got the lowest interest rates in 50 years,” he said.
“But imagine if interest rates tomorrow were 7 percent. We would have a very significant political issue on our hands.”
Mr English said the government wanted to work with the social housing sector to fill the gap.
Hear more here. See the report from the New Zealand Herald here. And the report from Stuff.co.nz here. See TVNZ news here.
