Call for low interest loans with SH investment

Media Release – for immediate release
19 May 2009

New Zealand Contractors’ Federation calls for low interest loans alongside billion dollar state highway investment

The New Zealand Contractors’ Federation has welcomed Transport Minister Steven Joyce’s announcement of an extra billion dollars investment in the state highway network over the next three years.

Federation Chief Executive Jeremy Sole said the federation was pleased the Government had followed through on its commitment, unveiled with the release of its revised Government Policy Statement on Land Transport Funding (GPS).

However, Mr Sole also called for central government to provide or underwrite low interest loans to encourage local government to press ahead with vital arterial road infrastructure projects too.

“The overall aims of the GPS cannot be achieved without local government committing its share,” he said. “Central government should take action to assist, including the endorsement or underwriting of low interest loans for approved GPS related infrastructure projects.

“The desired outcomes, of increased mobility and improved journey time reliability can only be achieved by investment in local arterial roads which intersect between state highways and local roads.

“We also hope that the Government is taking into account and preparing strategies to minimise the potential hiatus in the development of works programmes and local roads development that could result from the Auckland governance changes.”

ENDS

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