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Sun September 23 2018

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New Zealand allocates further $10bn for capital projects

10 May New Zealand’s budget next week will announce an investment of NZ$42bn (£21.5bn) in capital spending over the next five years to support rebuilding of infrastructure and critical public services.

Finance minister Grant Robertson said: ““This is $10 billion more than forecast over five years by the previous government before the election.”

He added that the capital investments to be announced on 17 May will give a boost to health to ensure that our hospitals are fit for purpose and can cope with a growing and ageing population.

“Education will also get a significant investment to support our schools to deal with ageing buildings and increasing enrolments,” he said. “We are upgrading our transport network to ensure we have a safe, efficient transport system, and will make the largest investment of our lifetimes into New Zealand’s regions via the $1 billion per year Provincial Growth Fund.”

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