Extra spend on infrastructure welcomed by business
Business welcomes the extra spend on infrastructure as signalled for this year's Budget by Finance Minister Steven Joyce today, says Wellington Chamber of Commerce Chief Executive John Milford.
Mr Joyce announced $11 billion in new capital infrastructure spend at a pre-Budget lunch hosted by Wellington Chamber of Commerce and Deloitte at Westpac Stadium. Some 300 of Wellington's business community attended the sold-out event.
Mr Milford said it is essential that New Zealand's vital infrastructure maintains the momentum needed to enable the economy to continue to grow.
"This investment is a big and welcome jump on that previously signalled, and shows that the Government recognises how important infrastructure is in driving the economy.
"Business is also encouraged by the greater use of public-private partnerships and joint ventures between central and local government and private investors in helping to drive the new infrastructure.
"We applaud the continuing focus on reducing net debt, which is a key factor enabling the big spend on infrastructure.
"We agree with the Minister that the most important resilience we need to have is to be a resilient country across the economy, our infrastructure, and the government's books."
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