National’s Infrastructure Plan

The major focus of Key’s speech was on investing in better infrastructure in New Zealand. Major aspects of the policy/plan are:

  • Appoint a Minister of Infrastructure to oversee a co-ordinate approach to infrastructure development.
  • A 20 year infrastructure plan covering investment in roads, public transport, electricity, telecommunications and water.
  • Will take into account the changing world such as the need for more renewable energy and the growing price of oil.
  • $1.5 billion investment into an ultra-fast broadband network.
  • Designate a new category of state highway – a Road of National Significance. These roads, such as SH1, will be a priority for funding as the core backbone of our roading network.
  • Introduce priority consenting for major national infrastructure projects, where a streamlined process will guarantee in law a decision within nine months, so that the consenting doesn’t take longer than the actual construction.
  • Will invest an extra $500 million a year on infrastructure (as well as the Broadband investment) on top of Labour’s proposed levels.
  • A total of $5 billion additional capital investment over six years, resulting in an increase of gross debt as a percentage of GDP of 2%.
  • Willing to do this as NZ does not have a debt problem, but a growth problem and the higher economic growth will pay back the investment over time.
  • Will introduce infrastructure bonds as an option for financing national infrastructure projects, and make greater use of public-private partnerships.

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