At the end of last year the government made a huge infrastructure spending announcement. Finance Minister Grant Robertson announced $12 billion of new investment, with $8 billion for specific capital projects and $4 billion to be added to the multi-year capital allowance. Broken down, the $8 billion looks like this:
· $6.8 billion for new transport projects, with a significant portion for roads and rail.
· $400 million one-off increase to schools’ capital funding
· $300 million for regional investment opportunities
· $300 million for District Health Board asset renewal
· $200 million for public estate decarbonisation
The specific projects will be announced in the coming months. So, we aren’t actually sure yet how this is going to be spent or what it will look like. Once the announcement had been made, Lillian spoke with finance journalist Rod Oram to ask all of the questions. What follows is a lengthy chat to get you thinking about this money heading into this new political year.