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Sun September 22 2024

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New Zealand allocates further $10bn for capital projects

10 May 18 New Zealand’s budget next week will announce an investment of NZ$42bn (£21.5bn) in capital spending over the next five years to support rebuilding of infrastructure and critical public services.

Finance minister Grant Robertson said: 鈥溾淭his is $10 billion more than forecast over five years by the previous government before the election.鈥

He added that the capital investments to be announced on 17 May will give a boost to health to ensure that our hospitals are fit for purpose and can cope with a growing and ageing population.

鈥淓ducation will also get a significant investment to support our schools to deal with ageing buildings and increasing enrolments,鈥 he said. 鈥淲e 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鈥檚 regions via the $1 billion per year Provincial Growth Fund.鈥

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