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

 

Guidelines For No-regrets Infrastructure Stimulus

“The economy and jobs are the priority for the May budget, but post budget the Government must accelerate discussions on the long-term vision, principles and larger investments required to transform the country into the new New Zealand,” says Infrastructure NZ CEO Paul Blair.

“There are three horizons for government’s response to COVID-19: the first horizon emergency measures to maintain the economy and jobs is nearing an end as we come out of lockdown.

“The second horizon, short-term stimulus to restart the economy.

“The third horizon of work offers a once-in-a-generation chance to transform New Zealand and steer our country’s direction for decades to come.

“Interviews with senior leaders of Infrastructure NZ member organisations, our young leaders Emerging Talent Network, and feedback from thousands of our webinar attendees have consistently called for this crisis to be turned into an opportunity to lift our vision and reset our strategic thinking.

“The competing ideas about which sectors, regions and outcomes matter most for New Zealand is an incredibly important debate, however the May budget doesn’t have time to address the complexities of this third horizon and should focus on no-regrets stimulus spending.

“The second horizon programme could comprise anything from tree planting to installing home insulation. It also will include a long list of essential public works necessary to sustain the economy and promote local, regional and national wellbeing.

“Infrastructure New Zealand offers several guidelines for the selection of horizon two, shovel-worthy projects:

  1. Maintain and upgrade – maintenance contracts tend to be more labour intensive, less complex, and more easily apportioned into smaller pieces so companies of all sizes can participate;
  2. Invest in no-regrets sectors – some long-term needs won’t change in a post-COVID-19 future (e.g., clean water, healthy homes, safe hospitals);
  3. Roll projects quickly into programmes – dozens of disconnected projects could unhelpfully compete for labour and supplies. Coherent programmes of work will be more efficient and achieve better value-for-money and outcomes;
  4. Choose proven delivery models and partners – collaborative techniques (e.g., alliances, early contractor involvement) between trusted partners are ideal for managing risk while moving fast;
  5. Embrace social procurement – supporting local businesses, apprenticeships, and all parts of our communities can ensure our investments generate wider benefits, even in the short-term;
  6. Leverage local government – every $1 of extra revenue that the Crown gives to a council can be matched with $2.50 of borrowing, putting $3.50 to work in the economy. Local government should be a key partner to the Crown in fiscal stimulus, but Crown must provide funding to enable the Urban Growth Partnerships promised in its Urban Growth Agenda;

“These guidelines will ensure that our shovel-ready work is appropriate and does not hinder our future long-term investments.

“To enable this rapid work, we will need crucial interim reforms to the RMA, Building Act, and government procurement processes, as well as longer-term comprehensive changes to ensure that we are enabling recovery and innovation in the third horizon and not hampering it.

“While the immediate work proceeds, we must be planning investment for the all-important third horizon.

“We need to rapidly design, consent, and procure a suite of future-focused projects that meet the needs of a future generations.These projects should not only grow our economy, but also support our country’s long-term health, safety, and cohesiveness.

“We also need to find ways to increase private investment for public benefit, just like the Ultra-Fast Broadband Initiative so successfully did in the wake of the Global Financial Crisis.

“For better or worse, our country has no shortage of no-regrets projects due to long-standing infrastructure under investment, such as for three waters and affordable and healthy homes.”

“We need to have a shared vision on what the new New Zealand looks like. But between now and then, we can get going quickly on the no-regrets projects that we all stand behind,” says Blair.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime NZ: NZ Joins Global Initiative Keeping Ports Open And Freight Moving

New Zealand has joined an international port authorities’ global initiative for safe and efficient movement of goods and shipping during the COVID-19 crisis. World-wide, 56 port authorities have agreed how they will work together facilitating maritime ... More>>

ALSO:

National: National Backs Businesses With $10k JobStart

National will provide a $10,000 cash payment to businesses that hire additional staff as part of our commitment to keeping New Zealanders in jobs, National Party Leader Todd Muller and Finance spokesperson Paul Goldsmith have announced. Our JobStart ... More>>

ALSO:

DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>

ALSO:

Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>

ALSO:

ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>

ALSO:

Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>

ALSO:

RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>

ALSO:

Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>

ALSO:

Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>

ALSO:



Auckland Airport: Thousands Of Kiwis Travelling For Queen’s Birthday Weekend


Confidence in domestic travel is beginning to steadily ramp up, with thousands of Kiwis travelling within New Zealand for Queen’s Birthday.
Nearly 400 flights will be operating to and from Auckland Airport over the long weekend... More>>

ALSO:

Science Media Centre: Understanding 5G Concerns – Expert Q&A


Recent attacks on cell phone towers have brought concerns over the rollout of 5G technology into sharp relief.
While scientific research has consistently shown that the technology does not adversely affect human health, public concerns about its impact have spread around the world, fueled in part by growing misinformation online. The SMC asked experts to comment... More>>

ALSO:


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>

ALSO:


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>

ALSO:

RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>

ALSO:

Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>

ALSO:

Government: Milestone In Cash Flow Support To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>

ALSO: