The Super Fund's bid to build and own Auckland's light rail lines is a political gift for Labour, but disguises a potentially expensive money-go-round between state-owned entities.
The Government could roll out public private partnerships to fund infrastructure projects across Auckland and Wellington, Transport Minister Phil Twyford and Finance Minister Grant Robertson said today after the surprise launch of a plan for light rail lines in Auckland that could be funded by a New Zealand Superannuation Fund-led consortium.
The New Zealand Superannuation Fund and Canadian fund manager CDPQ Infra have made an unsolicited bid to build and operate two lines in the proposed Auckland light rail, which are already getting $1.8 billion of seed investment.
Transport Minister Phil Twyford and Finance Minister Grant Robertson have announced the Cabinet has agreed to launch a procurement process to build two light rail lines from the Auckland CBD to the airport and North West Auckland.
New Housing and Transport Minister Phil Twyford tells Bernard Hickey the Government has big plans to change the way Auckland's multi-billion dollar light rail projects will be paid for -- by motorists and property developers.
In today's email for Newsroom Pro subscribers, we look at how the Recognised Seasonal Employer scheme could be expanded to include construction and tourism. We also include a fresh estimate that Auckland's housing shortage is headed over 50,000 and the latest on Auckland house prices from QV and Barfoot and Thompson, along with the usual quotes and numbers of the day and a couple of fun things.
With John Key away in New York to chair the UN Security Council this week, Bill English is in charge at home and having to deal with the questions over last week's near-death experience for its governing agreement with the Maori Party over the Kermadec Marine Sanctuary.
National Accounts published yesterday showed the overall economy grew at the third fastest rate in the OECD in the June quarter.
The Maori Party yesterday came as close as it ever has to walking away from its confidence and supply agreement that has kept National in power for eight years.