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New Zealand unveils $12b infrastructure spend
Investors - DECEMBER 11, 2019

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New Zealand unveils $12b infrastructure spend

by Kali Persall

New Zealand’s finance minister Grant Robertson has revealed plans to spend $12 billion on infrastructure, including $6.8 billion for transport projects, over the next four years.

Robertson announced the investment at the Treasury’s Half-Yearly Economic and Fiscal Update (HYEFU) on Wednesday, according to several media sources.

Of the total capital earmarked, $8 billion will be allocated for specific “shovel-ready” projects, which the minister plans to announce next year. The majority of the transport spend will go toward roads and heavy rail and an additional $300 million will be spent on hospital projects, $300 million on regional investment opportunities and $200 million on public real estate decarbonization. In addition, $400 million will be spent on state school property improvements, which was announced two weeks ago.

The remaining $4 billion will be allocated to the multi-year capital allowance, giving the government the freedom to spend it over fu

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