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Transfund’s disclosure of a surplus is a disgrace

31 March 2004
Media Release

Transfund’s disclosure of a surplus is a disgrace….

“What the hell are Transfund doing declaring a $250 million surplus, when there is so much transport infrastructure work to be done….”

In the context of Transit New Zealand’s confirmation in recent days that some six Auckland state highway projects are ready for construction, Michael Barnett, CEO of the Auckland Chamber of Commerce, said that to now learn that Transfund has unspent money is a disgrace….

“For Transfund’ to be revealing a surplus when thousands of Aucklanders making their way home this evening are caught in traffic gridlock because of incomplete network is unacceptable and deserving of a rebuke from the highest quarter of the Beehive – It’s just not good enough.”

He called on the Minister of Transport to direct Transfund to reallocate the surplus to enable Transit to immediately kick-start all six of the projects it has confirmed in recent days are “ready to go.”

ENDS

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