Government commits to $42 billion capital spending on infrastructure, services

  • 10/05/2018
Government commits to $42 billion capital spending on infrastructure, services
Photo credit: Newshub.

The Government has promised to invest $42 billion into infrastructure and public services over the next five years.

The capital spending figure had been previously forecast, but by repeating the promise to a Wellington Chamber of Commerce audience on Thursday, Finance Minister Grant Robertson was solidifying the commitment.

"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," Mr Robertson said.

"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."

But National's Finance Spokesperson Amy Adams isn't having a bar of the re-announcement of "five month old news".

"It's bizarre that he has absolutely nothing new to say in the pre-budget announcement for his first budget."

"This was Grant Robertson's opportunity to reassure business leaders about his plan for New Zealand's future economic growth. Instead he has re-heated five month old news.

"This Government is spending more, borrowing more and taxing people more, yet he has laid out no plans for how New Zealand can earn more."