Increased infrastructure investments secure economic recovery
“Budget 2021 lifts that investment to $57.3 billion of Crown spending on infrastructure from 2021 to 2025,” Grant Robertson said.
The Government is also increasing the multi-year capital allowance from $8 billion to $12 billion over the forecast period. Budget 2021 will invest $3.9 billion of that $12 billion allowance including:
- $810 million for KiwiRail to purchase new locomotives and wagons and complete upgrades to mechanical facilities, as well as invest in maintenance of its existing assets such as locomotives, wagons, ferries, and IT.
- $761 million of capital for Education including $634.1 million for school property.
- $700 million for District Health Boards to invest in new assets.
- $306 million to support the much needed redevelopment of Scott Base to ensure it remains operational.
- $300 million of additional capital for New Zealand Green Investment Finance Ltd to continue to invest in climate change mitigation.
$4.5 billion per year is also invested in transport services and infrastructure through the National Land Transport Fund, which comes from petrol excise duty and road user charges. It funds public transport, roads, cycle ways, rail and safety improvements all over Aotearoa New Zealand.