United welcomes flexible funding for Auck's roads
United Future welcomes flexible funding for Auckland roads
United Future's finance spokesman Gordon Copeland today welcomed the Government's commitment to exploring a wide range of options for the funding of roads and other transport infrastructure in Auckland.
Mr Copeland quizzed Finance Minister Michael Cullen on these issues at today's meeting of Parliament's Finance & Expenditure Select Committee.
"From a straight investment point of view," asked Mr Copeland "doesn't the $1 billion per annum gain to the New Zealand economy resulting from the transport decongestion of Auckland open up a very wide range of possible funding opportunities including Crown borrowings?"
In confirming that analysis, Dr Cullen stated that his current thinking is to go beyond the present Transfund/Transit NZ model of 100% funding from current tax revenue and the private/public partnership model envisaged in the Land Transport Management Bill.
He said that it is a high priority for Government now to look beyond that to other possibilities, although borrowing by the Crown would always remain subject to the important qualification of generating a cash flow stream to service that debt.