NZ Upgrade Programme kept on track
The Government is increasing its investment in the New Zealand Upgrade Programme (NZUP) to support New Zealand’s economic recovery.
Over two thirds of the projects will proceed as announced despite increased costs due to COVID, with modifications being made to others.
“NZUP is already supporting over 1,000 jobs with 13 projects underway, helping to secure our economic recovery,” Grant Robertson said.
“Fully funding the new estimated costs for every project would have cost up to $6 billion extra on top of the original $6.8 billion, so instead we’ve taken a balanced approach with a mix of additional investment and a handful of projects being re-scoped while also keeping a lid on debt.