Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Budget 2011: Lifting investment in irrigation


Hon David Carter
Minister of Agriculture
9 May 2011 Media Statement
Budget 2011: Lifting investment in irrigation

Agriculture Minister David Carter today announced an expanded irrigation fund to support the development of new water harvesting, storage and distribution infrastructure.

Budget 2011 will allocate $35 million over five years for the Irrigation Acceleration Fund, to support the development of irrigation infrastructure proposals to the ‘investment-ready’ prospectus stage.

The expanded fund is the first stage of the process; for the second stage, the Government will consider in a future Budget investing up to $400 million of equity in the construction of regional-scale schemes to encourage third-party capital investment.

Funding of this Crown investment vehicle is yet to be finalised, but it is expected to be available from 2013/14. The Crown will be a minority partner, investing on commercial terms, to give confidence to capital markets to invest in large scale irrigation schemes.

“Well-designed storage and irrigation infrastructure has the potential to deliver significant, sustainable economic growth,” Mr Carter says.

“The package delivers on a commitment made in the first months of the National-led Government to expand the scope and ambition of support for water storage infrastructure to ensure that suitable schemes can happen.

“Developing irrigation has huge potential to unlock economic growth and prosperity for our primary sectors and, by extension, for all New Zealanders.”

NZIER research suggests the fund could support 340,000ha of new irrigation, which could boost exports by $1.4 billion a year by 2018, rising to $4 billion a year by 2026.

“These initiatives represent a major step in unlocking significant economic potential for New Zealand, having our tradeable sectors growing strongly and delivering on the Government’s economic growth goals,” Mr Carter says.

“From an environmental perspective, more reliable access to water will lead to more efficient use of water, and can provide for the replenishment of aquifers and the restoration of steam and river flows.

“Irrigators will be required to adhere to good industry practice, both in respect of water use efficiency and land management practices arising from land-use intensification, with sanctions for non-performance,” Mr Carter says.

The Irrigation Acceleration Fund and equity investment is part of a package of measures to address the strategic value of water.

The other measures are the Fresh Start for Fresh Water Fund for historical environmental damage to waterways and the National Policy Statement on fresh water management.

ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Let It Go: MP Pay To Be Frozen

The Government is freezing MP salaries and allowances for a year while developing a fairer formula for future pay increases.

The Remuneration Authority is due to make a decision on MP pay shortly.

“Today Cabinet agreed to freeze MP Pay till July 2019, and to reassess the funding formula used by the Authority to ensure it is fair and in keeping with this Government’s expectations and values,” Prime Minister Jacinda Ardern said. More>>

 

Cop Shop Top-Up: 1800 New Police Through NZ

Police Commissioner Mike Bush has today confirmed further details around the allocation of the 1800 additional officers, following a $298.8 million increase for Police in Budget 2018... “These 1800 officers, alongside 485 support staff, will really enhance our work to keep people safe, and ensure they feel safe,” says Mr Bush. More>>

ALSO:

Human Right Commissions: Concern On Aged Care And Consent

A new report published by the Human Rights Commission raises concerns about the legal and human rights safeguards for an estimated 5000 elderly New Zealanders in secure dementia units and psychogeriatric facilities. More>>

ALSO:

Justice Reform: Andrew Little Interviewed By Corin Dann

“We’ve had thirty years of the auction of more penalties, more crime, more people in prison but it‘s not working, it’s not making us safe.” More>>

ALSO:

Greens AGM: Leadership Stands Firm On Waka Jumping Bill

The Green Party leadership have dug in their heels and will not be reversing any of the decisions they have made in government. Former MPs Jeanette Fitzsimons and Sue Bradford had hoped the caucus might be persuaded this weekend to pull its support from the waka jumping bill. More>>

ALSO:

TOP Still Going, Actually: New Leader For Opportunities Party

New leader Geoff Simmons' aim as the leader of TOP is to take the party into Parliament at the next election where it can advocate and implement progressive reform in areas including fair taxation, cannabis legalisation, affordable housing, and environmental protection. More>>

ALSO:

Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case... More>>

MPs' Computers To Be Searched: Inquiry Into Leak On Simon Bridges' Expenses

An inquiry has been launched to find out who leaked the National Party's expenses to the media... Parliament's speaker, Trevor Mallard, said a Queen's Counsel would lead the inquiry with the help of an employment lawyer and also someone with forensic IT skills. More>>

ALSO:

Teachers Strike: Nationwide Rallies And Marches

Teachers and principals voted for a full day strike to be held on 15 August to send a strong message to the Government that the current collective agreement offers from the Ministry of Education would not fix the crisis in teaching. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages