Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

No tolls for Penlink a surprise

NZCID Media Release
8/10/08
No tolls for Penlink a surprise

The New Zealand Council for Infrastructure Development has expressed surprise that the government has rejected tolls and approved a regional fuel tax across Auckland to fund the Penlink project, a new road linking the Whangaparaoa Peninsula to State Highway 1 at Redvale.

"The decision to fund Penlink through public debt seems highly unusual in the light of the government's worsening fiscal position", said NZCID chief executive Stephen Selwood.

"While a coup for Rodney District and welcome news for the construction sector, the downside is that government funding will crowd out private sector willingness to invest in the road, will unnecessarily increase public debt and will inevitably result in less funding for other regional projects.

"Penlink had long been signalled as a toll road following government's earlier rejection of Rodney District Council's request for it to be fully funded as a state highway.

"The local community had agreed to pay tolls to have the road built sooner. Now, in what can only be described as a surprise turn around, the government has approved a regional fuel tax of 1 cent per litre to repay a 30 year government loan to fund the road.

"The reality is that there is a significant funding shortfall for both roading and public transport across the Auckland region. Continual rejection of alternative funding approaches, including tolls and privately financed projects inevitably means delays in completion of other important transport connections", Selwood says.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: