The government will invest $42 billion in net capital spending over the next five years to support the rebuild of New Zealand’s infrastructure and critical public services including schools, hospital, and transport.
Finance Minister Grant Robertson made the pre-budget announcement today, $10 billion more than forecast over five years by the previous National-led government.
“We have to build the strong foundations that give every New Zealander the chance to succeed. Healthier, more secure, better-educated people have the best chance of getting ahead in life.”
Robertson says education will get a significant investment to support schools to deal with aging buildings and increasing enrolments.
He also hinted that capital investments, to be announced in the budget next week, will allow the government to give a boost to health services, to ensure that hospitals are fit for purpose and can cope with a growing and aging population.
Upgrades will be made to the transport network.
The full budget will be announced next Thursday, May 17.