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Accelerated Expenditure will Boost Economy

Accelerated Infrastructure Expenditure will Boost Economy

The Wellington Regional Chamber of Commerce has welcomed the government’s plans to accelerate infrastructure expenditure as part of its response to the economic crisis.

“This is a unique opportunity to reduce the country’s infrastructure deficit. It is also an excellent way to provide fiscal stimulus without jeopardising the government’s fiscal position in the longer term,” said Chamber CEO Charles Finny.

“We are pleased that the projects announced have been approved on their merits and were programmed to occur in later years anyway. However there will be a need to reduce expenditure in the medium term to offset the current boost and to return government debt to sustainable levels.

“We are particularly pleased that Muldoon’s Corner is on the list of state highway work to be accelerated. This is an important stretch of road for the lower North Island and is on the list of accelerated expenditure priorities that we have been pushing. It will be welcomed particularly by commercial users. There is not enough room for two trucks to traverse this stretch of road at the same time.

“We hope that Wellington will get its share of accelerated projects in the second wave of infrastructure projects to come.

“While we also support increased investment in public transport, the reality is such expenditure is not as stimulatory as road building. We therefore agree fully with the emphasis of the government announcement,” Mr Finny concluded.


ENDS

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