10 June 2005
Media Statement

Transport budget up $209 million

Land Transport New Zealand's net budget is up $209 million, a 16 per cent increase, for 2005/06 compared with the current year says Transport Minister Pete Hodgson.

It will exceed $1.5 billion for the first time in 2005/06 and represents a $575 million, or 61 per cent, increase against that last equivalent budget set under National.

"This is an unprecedented level of transport spending under this Labour-led government as efforts to wipe out the legacy of neglect of the last National government are accelerated further," says Pete Hodgson.

ENDS

The numbers.

LTNZ Appropriation (LTSA + Transfund)
04/05 (net figure) $1,303.95 million
05/06 $1,514 million
Difference $209.7 million or 16.07 per cent

Equivalent total 99/00.$938.06 million

Difference between 05/06 and 99/00 $575.56 million or 61.35 per cent

Source: The estimates of Appropriations 2005/06 and 2004/05. All ex GST.

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