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Tue December 10 2019

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NZ promises to bring forward infrastructure spending

2 Dec The New Zealand government is to bring forward a package of major infrastructure projects.

The newly established New Zealand Infrastructure Commission Infrastructure had already identified a substantial pipeline of upcoming major capital projects
The newly established New Zealand Infrastructure Commission Infrastructure had already identified a substantial pipeline of upcoming major capital projects

The full list of specific projects is yet to be finalised, but minister of finance Grant Robertson said that they will be spread across the country and will support a number of different sectors.

“The package will provide certainty to the construction industry about upcoming infrastructure projects. The investment will have a significant economic impact and create more job opportunities for Kiwis – especially our young people,” he said.

Robertson said that the Cabinet has agreed to the significant boost to infrastructure investment. “I have directed the Treasury to help bring together a package of projects that can be brought into the government’s short- and medium-term plan of investments,” he said. “We have this once in a generation opportunity because of the government’s good management of the books and resulting low debt. It makes sense to take advantage of this low debt and record low interest rates to make investments now to benefit generations to come.”

The size of the investment package will be outlined in the government’s budget policy statement on 11th December.

The newly established New Zealand Infrastructure Commission Infrastructure had already identified a pipeline of upcoming major capital projects with a combined value of NZ$21.1bn (£10.45bn).

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