The Transport Minister has confirmed planned spending of nearly $40 billion on land transport in the next ten years.
Simon Bridges says $38.7 billion will be spent with regional networks, public transport, cycleways and road maintenance to benefit.
The investment programme is set out in the Government Policy Statement on Land Transport (GPS 2015) released by the Minister today.
“Investment in the transport sector drives economic development and productivity, and GPS 2015 outlines the agenda for improvement programmes for the next decade,” Bridges says.
“GPS 2015 reaffirms the Government’s focus on economic growth and productivity, road safety and value for money investments”.
The GPS is a document issued by the Minister of Transport every three years. It is the Government’s primary tool to communicate what it wants to achieve in land transport, and how it expects to see funding allocated across the likes of road policing, road safety promotion, State highways, local roads and public transport.
The money is collected primarily from road users, through petrol excise duty and road user charges. An additional $1 billion is contributed by local government annually.
GPS 2015 will, for the first time, direct funding towards regional improvements, providing up to $90 million a year for non-urban areas to develop their strategic network.
The GPS also sets out objectives and expectations around value for money.
“The Government expects to see the funds raised for land transport managed and invested effectively and efficiently to deliver the right infrastructure and services to the right level and at the best cost,” Bridges says.
Local government is required to develop Regional Land Transport Plans which are consistent with the new GPS, and the New Zealand Transport Agency is required to develop a National Land Transport Programme which gives effect to the GPS before it comes into force on 1 July 2015.
