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Canterbury a stand out on the spending front

Hon Gerry Brownlee

Minister supporting Greater Christchurch Regeneration
21 October 2016


Canterbury a stand out on the spending front

Canterbury will continue to benefit from major investment from central and local government and the private sector for the next decade.

Treasury’s National Infrastructure Unit has today released its Ten-Year Capital Intentions Plan 2016 – 2025.

The Minister supporting Greater Christchurch Regeneration Gerry Brownlee says it shows ongoing commitment to the region’s regeneration.

“The purpose of the document is to provide the construction and infrastructure sectors with greater visibility of upcoming investment commitments and opportunities,” Mr Brownlee says.

“The plan signals central government’s investment intentions over the coming years, which includes $3.8 billion in social investment – such as health, education and property projects in Canterbury.

“On top of that the government will spend $1.3 billion on transport projects in the region.

“Total government investment in Canterbury currently tops $5.1 billion.

“For the anchor projects, the document shows $160 million has so far been spent on the Avon River Precinct, South Frame and earthquake memorial.

“Not all anchor projects are included because of commercial sensitivity or the fact that commercial contracts are still being finalised.

“Other significant investment – such as the Crown’s acquisition programme in the residential red zone and central city – is also not taken into account.

“The Crown has spent $1.5b in the residential red zones and close to $500 million on land acquisition in the central city,” Mr Brownlee says.

Earlier this year, Treasury estimated the volume of investment associated with the residential rebuild was about $15 billion and about $9 billion so far for the commercial rebuild.

Around $28 billion of the rebuild is expected to be finished before June 2020.

The document can be found at: www.infrastructure.govt.nz/plan/evidencebase.

ends

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