New Zealand has announced plans to accelerate infrastructure spending to futureproof its economy, take advantage of the country’s low public debt and the low interest rates on loans.
The government plans to bring forward a number of projects, and will publish a list of them as part of its Budget Policy Statement, due on 11 December.
Grant Robertson, New Zealand’s minister of finance, commented: "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. Â
"We are still finalising the full list … but they will be spread across the country and will support a number of different sectors. Â
"The package will provide certainty to the construction industry about upcoming infrastructure projects. Â
"The investment will have a significant economic impact and create more job opportunities for Kiwis, especially our young people."
Image: New Zealand government buildings (Brian Scantlebury/Dreamstime)