The Government is delaying hiking the levy most home owners pay via their private insurers to fund the Natural Hazards Commission until 2027.

The $552 levy was supposed to go up by between $207 and $311, but reports claim ministers are still considering their options, with Finance Minister Nicola Willis saying she didn't want to make a 'hurried decision'.

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

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