Thursday 30th May 2019 |
Text too small? |
Government funding for water and roading infrastructure “to support the timely increase of housing supply” is halved without explanation in the Budget.
Having announced a $600 million capital allocation for CIP in last year’s Budget, this year’s states that a capital allocation of $300 million has been made, appearing at first to suggest an increase in funding.
Close interrogation of the Budget documents reveals that what appears in the most accessible public documents to be a $300 million boost for CIP is in fact a halving of last year’s allocation in favour of other “related” government priorities.
The government has struggled to make the progress it hoped to on its KiwiBuild affordable housing initiative, in part because legislation to fast-track major housing and urban infrastructure through a new urban development authority is not yet in place.
CIP was the vehicle initially set up by the last National Party-led government to fund the rollout of a national fibre-optic cable network for ultra-fast broadband.
Its scope was expanded by the incoming Labour-led government.
(BusinessDesk)
No comments yet
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report