Media Statement For immediate release Wednesday, 18 June, 2003

Copeland: Govt does well picking up UF idea

United Future was delighted that the Government was adopting its suggestion to borrow to make up the shortfall in the level of funding available for fixing Auckland's roads, United Future's Gordon Copeland said today.

"We've promoted this course of action consistently for the past six months, and are very pleased to see the Government has come around to our view, as it simply makes sense," Mr Copeland, United Future's finance spokesman, said.

"Government debt projections are running below forecast levels, and borrowing for Auckland's roads would still fall within current debt level targets," he said.

"With Auckland's traffic congestion costing the economy an estimated $1 billion a year, this has to be moved now."

Speaking in Parliament yesterday, Mr Copeland also renewed United Future's call for the Government to consider putting the 18.5c per litre currently collected by the Government at the petrol pump, or at least a proportion of it, back into the country's roading network rather than the Consolidated Fund, to complement the borrowing.

Ends.

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