The Government has decided to bring forward major investments in New Zealand’s infrastructure to future proof the economy.
“Cabinet has agreed to a significant boost to infrastructure investment. I have directed the Treasury to help bring together a package of projects that can be brought into the Government’s short and medium term plan of investments,” Grant Robertson said.
“We have this once in a generation opportunity because of the Government’s good management of the books and resulting low debt.
“It makes sense to take advantage of this low debt and record low interest rates to make investments now to benefit generations to come.
“The Government inherited neglected infrastructure when it took office, including run down hospitals, roads that had been announced but not paid for, overcrowded classrooms and a state housing shortage.
“We are still finalising the full list of specific projects but they will be spread across the country and will support a number of different sectors.
“The package will provide certainty to the construction industry about upcoming infrastructure projects.
“The investment will have a significant economic impact and create more job opportunities for Kiwis – especially our young people.
“This Government is not sitting on its hands when it comes to getting people into the trades – through programmes like Mana in Mahi and He Poutama Rangitahi we are supporting more and more people into work,” Grant Robertson said.
The size of the investment package and how it will support the growing economy will be outlined at the Budget Policy Statement on 11 December.