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Reinvestment In Infrastructure Moves Forward

Joint Statement

Hon Dr Michael Cullen, Minister of Finance
& Hon Annette King, Minister of Transport

This government's major reinvestment in transport infrastructure takes another step forward from July 1.

Finance Minister Michael Cullen and Transport Minister Annette King said that some of the highlights of today's budget include funding for a 10year Canterbury Transport Regional Implementation Plan and funding for regional development initiatives in both Northland and Tairawhiti.

Other highlights include new funding to strengthen transport regulatory agencies, support for the Civil Aviation Authority to continue to meet its best practice international obligations and an expansion of the Transport Accident Investigation Commission's capability and services.

"This government has invested heavily in rebuilding New Zealand's transport infrastructure," the Ministers said. "We are currently funding the largest ever investment in our road network and have increased public transport funding by almost 1100 per cent from the $41 million spent in 1999/00.

"Building-up the public transport capability benefits not only the travelling public, but also assists other objectives such as helping New Zealand meet its commitments to reduce the effects of global climate change and to improve New Zealand's competitive position as a trading nation.

Highlights of Budget 2008's investment in rebuilding New Zealand's transport infrastructure include:

Capital funding of $33.5 million over a four year period has been secured to contribute towards the 10-year Canterbury Transport Regional Implementation Plan. The government is committed to the 10-year plan in partnership with Environment Canterbury, and in the third year of the funding announced in this Budget the government will review what additional money will be needed to complete the project.

$30 million of capital funding over three years to continue transport funding for regional development initiatives in Northland and Tairawhiti.

$15 million of capital funding over four years for aviation passenger safety and security infrastructure at airports.

$2 million of operating funding over four years for the Civil Aviation Authority to continue to meet international best practice obligations.

$4.8 million of operating funding over four years and $985,000 capital between 2007/08 and 2009/10 to strengthen Transport Accident Investigation Commission capability and expand services.

$28 million of operating funding in 2008/09 for OnTrack and $65 million between 2007/08 and 2008/09 in capital funding to maintain the national rail network and reconfigure rail land.

ends

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