Is this what government is for?

Aotearoa has an infrastructure shortage. We need schools, hospitals, public housing. But National is dead set against borrowing to fund any of it, even though doing so is much cheaper than the "public-private partnership" model they prefer. So what will National borrow for? Subsidising property developers:

The new scheme, called the Greenfield Model, would see the Government’s National Infrastructure and Financing Agency (NIFFco) lend to a Special Purpose Vehicle (SPV) at a “very competitive” interest rate during the early stage of development.

The debt would then be re-financed to private markets, such as a bank, once the development is complete. It would ultimately be re-paid by the new homeowners via a levy.

This would be a good idea if it was for state houses, a public asset. But essentially what National is planning is low-cost loans to private developers - just a direct subsidy to their profits. And the people who buy those houses will then have to pay a special tax to pay for National's financial shenanigans.

Wouldn't it be much simpler for the government just to borrow and build themselves?