Budget 2018 to invest $42 billion in capital spending
Hon Grant Robertson
Minister of Finance
10 May 2018 PĀNUI PĀPĀHO
The Coalition Government will invest $42 billion in net capital spending over the next five years to support our plan to rebuild New Zealand’s infrastructure and critical public services, Finance Minister Grant Robertson said today.
“This is $10 billion more than forecast over five years by the previous Government before the election,” Grant Robertson told a Wellington Chamber of Commerce audience.
“We have to build the strong foundations that give every New Zealander the chance to succeed. Healthier, more secure, better-educated people have the best chance of getting ahead in life.
“The capital investments to be announced on 17 May will allow us to give a long overdue boost to Health to ensure that our hospitals are fit for purpose and can cope with a growing and ageing population.
“Education will also get a significant investment to support our schools to deal with ageing buildings and increasing enrolments.
“We are upgrading our transport network to ensure we have a safe, efficient transport system, and will make the largest investment of our lifetimes into New Zealand’s regions via the $1 billion per year Provincial Growth Fund.
“A Budget is always a balancing act and we have been responsible by making sure we have created the room to make the critical investments we need to, while maintaining New Zealand’s resilience to any future shocks. We are doing this while meeting the Budget Responsibility Rules, meaning we are running a surplus in this Budget and across the economic cycle.
“Budget 2018 begins an economic and social transformation that must happen if we are to improve New Zealanders’ quality of life and living standards.
“We are investing in the future. We are a positive, energetic government which is managing the books responsibly, so that our country and our economy is one where our children and grandchildren can thrive,” Grant Robertson said.