Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Budget 2011: Lifting investment in irrigation


Hon David Carter
Minister of Agriculture
9 May 2011 Media Statement
Budget 2011: Lifting investment in irrigation

Agriculture Minister David Carter today announced an expanded irrigation fund to support the development of new water harvesting, storage and distribution infrastructure.

Budget 2011 will allocate $35 million over five years for the Irrigation Acceleration Fund, to support the development of irrigation infrastructure proposals to the ‘investment-ready’ prospectus stage.

The expanded fund is the first stage of the process; for the second stage, the Government will consider in a future Budget investing up to $400 million of equity in the construction of regional-scale schemes to encourage third-party capital investment.

Funding of this Crown investment vehicle is yet to be finalised, but it is expected to be available from 2013/14. The Crown will be a minority partner, investing on commercial terms, to give confidence to capital markets to invest in large scale irrigation schemes.

“Well-designed storage and irrigation infrastructure has the potential to deliver significant, sustainable economic growth,” Mr Carter says.

“The package delivers on a commitment made in the first months of the National-led Government to expand the scope and ambition of support for water storage infrastructure to ensure that suitable schemes can happen.

“Developing irrigation has huge potential to unlock economic growth and prosperity for our primary sectors and, by extension, for all New Zealanders.”

NZIER research suggests the fund could support 340,000ha of new irrigation, which could boost exports by $1.4 billion a year by 2018, rising to $4 billion a year by 2026.

“These initiatives represent a major step in unlocking significant economic potential for New Zealand, having our tradeable sectors growing strongly and delivering on the Government’s economic growth goals,” Mr Carter says.

“From an environmental perspective, more reliable access to water will lead to more efficient use of water, and can provide for the replenishment of aquifers and the restoration of steam and river flows.

“Irrigators will be required to adhere to good industry practice, both in respect of water use efficiency and land management practices arising from land-use intensification, with sanctions for non-performance,” Mr Carter says.

The Irrigation Acceleration Fund and equity investment is part of a package of measures to address the strategic value of water.

The other measures are the Fresh Start for Fresh Water Fund for historical environmental damage to waterways and the National Policy Statement on fresh water management.

ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include:

- Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords.

- Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement...

- Improve compliance with the law by increasing financial penalties and introducing new tools to take direct action against parties who are not meeting their obligations. More>>

 
 

Gordon Campbell: On The Farming Sector’s Persecution Complex

The narrative that our farmers are ‘doing it tough’ plays into a number of wellworn stereotypes ... More>>

ALSO:

corrections, prisonCorrections: Independent Review Of Prisoner Mail Management

The independent review into the prisoner mail system has today been released, with Corrections accepting all 13 recommendations and making a number of changes to strengthen the management of prisoner mail. More>>

ALSO:

IPCA: Unlawful Detention Of Teenager; Influence Of Investigation

The Independent Police Conduct Authority has found that former Inspector Hurimoana Dennis unlawfully detained an Auckland teenager in 2015, and improperly influenced the outcome of a criminal investigation into his own son in 2014. More>>

ALSO:

SOP For Gun Bill: New Measures For Modified Pistols

The new controls will • Prohibit short-barrelled semi-automatic rifles which currently are defined as pistols because they are shorter than 762 millimetres. • Introduce tighter controls over pistol carbine conversion kits… • Prohibit firearms which contain a part known as a centrefire lower receiver… More>>

'Culturally Arranged Visitors Visa': Fix For Marriage Visa Issue

Earlier this year Immigration New Zealand issued guidance to front line Immigration staff that made it significantly harder for people to get visas to visit their partner. That guidance no longer applies with today’s announcement. More>>

ALSO:

Conflict Of Interest For Key Member: Budget Data Breach Investigation Shut Down

State Services Commissioner Peter Hughes has today terminated the investigation into how Budget-sensitive material was accessed at the Treasury and appointed a new inquirer. More>>

RNZ Report: Mysterious Foundation Loaning NZ First Money

A mysterious foundation that loans money to New Zealand First is under scrutiny, with a university law professor saying although it's lawful, it fails to provide the transparency voters need in a democracy. More>>

Justice: Criminal Cases Review Commission Established

“We’ve seen how our justice system can very occasionally get things spectacularly wrong, even with rights of appeals, and there needs to be a chance for the innocent on the right grounds to seek a final review of their case...” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels