Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Budget roading investment still behind


Budget 2006 roading catch-up welcome but investment still well behind comparative nations

Although Budget 2006 represents a major step forward in committed transport funding it is still vastly inadequate to address the nation’s transport infrastructure deficit, says NZCID Chief Executive Stephen Selwood.

There are a number of very pleasing aspects to the budget announcements:

$862 million bringing previously deferred transport projects back on track
$425 million extra funding to advance road projects across the country
5 year funding certainty giving a boost to construction industry confidence and investment
increased commitment to debt funding,

This is good progress and provides exactly the certainty of funding so desperately needed by the construction industry.

Nevertheless the level of investment falls well short of that which is needed to fix congestion, make the road network safer as a whole, and achieve the dramatic lift in public transport mode share required to deliver the Government’s transport strategy goals.

To put things in perspective, Ireland, which like New Zealand has a population of just over 4 million people, has committed the equivalent of $NZ 70 billion in transport capital investment over the next 10 years, including $16 billion in private sector funding. (1)

By comparison, New Zealand will be investing 1/6th of this amount over the same time, even with the latest $1.3 billion funding injection, and there is scant encouragement to private sector investment in transport infrastructure.

Like Australia, major road projects are being completed in Ireland in less than half the time than it takes in New Zealand.

The Irish are also investing heavily in public passenger transport infrastructure with up to $NZ 32 billion of the $70 billion dollar investment programme committed to public transport over the next 10 years.

While NZCID is pleased with today's funding announcements, if New Zealand is to emulate the kind of economic transformation Ireland has achieved over last decade, a further quantum lift in capital investment by both the private and public sector is required, Selwood says.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election