National’s Infrastructure Plan
The major focus of Key’s speech was on investing in better infrastructure in New Zealand. Major aspects of the policy/plan are:
- Appoint a Minister of Infrastructure to oversee a co-ordinate approach to infrastructure development.
- A 20 year infrastructure plan covering investment in roads, public transport, electricity, telecommunications and water.
- Will take into account the changing world such as the need for more renewable energy and the growing price of oil.
- $1.5 billion investment into an ultra-fast broadband network.
- Designate a new category of state highway – a Road of National Significance. These roads, such as SH1, will be a priority for funding as the core backbone of our roading network.
- Introduce priority consenting for major national infrastructure projects, where a streamlined process will guarantee in law a decision within nine months, so that the consenting doesn’t take longer than the actual construction.
- Will invest an extra $500 million a year on infrastructure (as well as the Broadband investment) on top of Labour’s proposed levels.
- A total of $5 billion additional capital investment over six years, resulting in an increase of gross debt as a percentage of GDP of 2%.
- Willing to do this as NZ does not have a debt problem, but a growth problem and the higher economic growth will pay back the investment over time.
- Will introduce infrastructure bonds as an option for financing national infrastructure projects, and make greater use of public-private partnerships.