Govt to invest $54b in transport over 10 years
A total of $54 billion is going to be invested in transport in New Zealand over 10 years.
No petrol excise or road user charge increases are also being proposed as part of the Draft Governement Policy Statement 2021.
Transport Minister Phil Twyford released today the Draft Government Policy Statement 2021 on land transport which confirms that the Government will invest a record $54 billion in its balanced transport policy over the next decade.
The GPS is how the Government guides Waka Kotahi NZ Transport Agency to invest more than $4.5 billion a year raised through the National Land Transport Fund; and how it expects them to allocate funding towards roads, rail, walking and cycling infrastructure, coastal shipping and public transport.
“This GPS shows our Government is putting the pedal to the metal on our balanced transport policy while committing to a massive infrastructure spend over 10 years,” says Phil.
“Alongside the historic $12.1 billion COVID-19 economic response package and the $12 billion NZ Upgrade programme, this transport investment will make a real difference to New Zealand’s economic recovery.
“The Draft GPS 2021 signals that we will make a record investment in transport of $48 billion on top of our $6.8 billion from the NZ Upgrade Programme, which will help give the transport construction industry certainty during the current global economic headwinds.
“We are not proposing to raise petrol tax as we are making good progress addressing the infrastructure deficit the last government left with the revenue from GPS 2018."
Phil says safety remains the Government’s top priority and they’re planning to invest $10 billion in a strategy to reduce the number of deaths and serious injuries on the road by 40 per cent.
“In the first three years alone, Road to Zero will invest nearly $3 billion in safety infrastructure like median barriers, safety campaigns and road policing."
The regions will get an extra $1.2 billion in road upgrades through Road to Zero in the first three years, more than double the amount for regional improvements under GPS 2018.
“We’re taking climate change seriously through unprecedented investments in public transport and walking and cycling improvements. Compared to the previous government, public transport investment is up 163 per cent and walking and cycling is up 227 per cent.
“Given how both rail and coastal shipping help take pressure off our roads and produce less emissions, we are looking to fund both in GPS 2021. Building alternative transport options for people and freight is a vital part of achieving the Government’s goal of net zero emissions by 2050."