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


Crown Infrastructure Partnerships initiative could transform

Crown Infrastructure Partnerships initiative could transform infrastructure and housing delivery

"The Government's announcement today that it will set up Crown Infrastructure Partnerships to seed fund private investment in road and water infrastructure provides a means to dramatically increase housing supply," says Infrastructure New Zealand Chief Executive, Stephen Selwood.

"Timely delivery of trunk infrastructure is a major constraint on developers' ability to deliver housing across New Zealand," Selwood says.

"Under this model, Crown Infrastructure Partners (CIP) will facilitate partnerships between the Government and local councils to enable private investment in roads and water treatment plants to unlock land for development.

"Traditionally councils have been unable to deliver infrastructure soon enough because of other demands on funding and political constraints on their ability to increase property rates and fund debt.

"Under this model, the debt will be covered by private investors.

"The $600 million seed fund announced today will enable CIP to cover initial demand risk until the developments are in place and new ratepayers are able to pay for the infrastructure. As the Crown is repaid, it will then be able to recycle that capital into new developments.

"A key advantage of this approach is that the cost of the infrastructure is not included in the up front cost of a home. This will reduce house prices, meaning smaller mortgages.

"Instead, home owners will pay for the infrastructure services over time through targeted rates on their properties.

"The Crown partnership agency is similar to the successful Scottish Futures Trust model in Scotland and the Municipal Utility District approach in the United States. Both countries use these models to deliver better outcomes sooner by leveraging private capital and expertise.

"Re-purposing Crown Fibre Holdings into Crown Infrastructure Partnerships in New Zealand is a very smart move.

"Crown Fibre Holdings has a track record of successful partnerships with the private sector and this approach has enabled a step change in the roll out of high speed broadband.

"Successful evolution of that model into integrated development of infrastructure and housing at scale could transform housing supply and make a significant contribution to delivering affordable homes sooner rather than later." Selwood says.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election