Labour has again failed leaky home owners, with revelations that its loan scheme has cost $650,000 to administer and has resulted in only seven loans, says National’s Associate Building and Construction spokesman, Bob Clarkson.” It is a disgraceful waste of taxpayers’ money that $650,000 has been spent on administering a scheme that has helped only seven leaky home owners and without a dollar being spent on fixing the houses.” The financial assistance scheme was announced in the 2006 Budget, promising $7.1 million in loans over two years. The Minister at the time, Clayton Cosgrove, responded to concerns from industry that the scheme was a ‘sham’ by saying the loan scheme would open the way for thousands to have their homes repaired. The Department of Building and Housing has confirmed that $650,000 has been spent on developing, implementing, and administering the loan scheme but that only seven loans, to a value of $1.44 million, have been handed down.” This loan scheme was a cruel hoax that falsely raised the hopes of desperate leaky home owners.” This botch-up stands alongside the appalling failures of the Weather tight Homes Tribunal. Far from resolving all claims in two years, as promised by Labour in 2002, only 15% of the 5,500 claims have been resolved after six years.” The madness of Labour’s bureaucratic approach to leaky homes is that it’s costing an average of $116,000 to administer each claim resolution and $93,000 to administer each loan granted, despite the average repair costing $120,000.