Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade.
The 2016-2025 CIP is the third of its kind since it was launched in 2014 and brings together the infrastructure investment intentions of central and local government, State-owned enterprises, and public and private companies.
Housing New Zealand lodged 60 resource consent applications in the last quarter which, if approved, will build houses for over 3000 people in Auckland, Ministers Bill English and Paula Bennett say.
Housing New Zealand’s Asset Development Group has lodged the consents to build 1297 new houses, which will have the potential to accommodate more than 3200 people in 20 suburbs across the city.
Finance Minister Bill English has today presented the Crown accounts for the year to June, showing a surplus of $1.8 billion in 2015/16, up from $414 million in 2014/15.
The Crown accounts show core Crown expenses are under 30 per cent of GDP for the first time since 2006, net debt has stabilised to 24.6 per cent of GDP and net worth has grown to $89.4 billion in 2015/16.
Finance Minister Bill English departs today for the United States to attend the annual meetings of the International Monetary Fund and the World Bank in Washington DC.
“The meetings will provide me with a valuable opportunity to discuss issues of economic interest to New Zealand with representatives of other governments and policy specialists and to get a read on international developments,” Mr English says.
Finance Minister Bill English and State Owned Enterprises Minister Todd McClay announced today that Trevor Janes will be the next chair of KiwiRail, and former State Owned Enterprises Minister Tony Ryall will be the next chair of Transpower.
Mr Janes has been appointed a director of KiwiRail from today and will take over as chair from 1 November. He succeeds John Spencer who has chaired KiwiRail for four years and before that its predecessor, the New Zealand Railway Corporation, for two.
Finance Minister Bill English and Tertiary Education, Skills and Employment Minister Steven Joyce have today acknowledged the release of the Productivity Commission’s draft report New and Emerging Models of Tertiary Education.
“The report was commissioned to investigate how trends in technology, tuition costs, skill demand, demographics and internationalisation may drive new and changed business models and delivery models in the tertiary sector,” Mr English says.
Finance Minister Bill English has congratulated the new chair of the Reserve Bank’s board of directors Professor Neil Quigley.
Professor Quigley has been elected unanimously by his fellow directors, replacing Dr Rod Carr who is standing down after three years as chair. Economist Kerrin Vautier has been appointed as deputy chair.
The latest release of the Major Projects Performance Report shows the delivery of the Government’s biggest investment projects is continuing to improve Finance Minister Bill English says.
The July 2016 report updates the progress of the 55 most complex, high-value projects that, together, have a whole of life cost of $36 billion.
The projects, which span 33 agencies, are assessed using a five-point scale ranging from Red through to Amber and then Green.
The Government will redevelop 300 existing Housing New Zealand (HNZ) properties into about 1200 new homes in Northcote, Ministers Bill English and Dr Nick Smith have announced.
The Minister Responsible for Housing New Zealand, Bill English, says the $750 million project will transform the existing 300 properties into about 1200 warmer, drier and healthier homes with a better mix of size and type.
“The number of HNZ homes will increase from 300 to 400 and a further 600-800 properties will be sold as a mix of affordable and market housing.”
Finance Minister Bill English and Transport Minister Simon Bridges today released a joint report with Auckland Council which sets out a clear direction for the development of Auckland’s transport system over the next 30 years.
“This report marks the culmination of the Auckland Transport Alignment Project (ATAP) which has involved the Government and Auckland Council working closely together over the last year to develop an aligned strategic approach, including an indicative package of transport investment,” Mr English says.
The third highest growth rate in the OECD shows the Government’s management of the economy is delivering more jobs and opportunities for New Zealanders, Finance Minister Bill English says.
Statistics New Zealand reported Gross Domestic Product grew by 0.9 per cent in the three months to 30 June 2016. This took annual growth to 3.6 per cent – putting New Zealand’s growth rate in the top three among developed economies.
The draft Productivity Commission review of urban planning rules demonstrates that the current system has strengths but is also unresponsive and risk-averse, Finance Minister Bill English says.
Late last year the Government asked the Commission to review urban planning rules and processes, and identify the most appropriate system for land use allocation.
The Government has released its response to the Productivity Commission’s inquiry, Using Land for Housing, confirming it is already implementing most of the recommendations, Finance Minister Bill English says.
At the Government’s request, the Commission reviewed the planning and development systems in the fastest-growing urban areas around the country looking for ways to increase the supply of land for housing.
It sits alongside a further Productivity Commission inquiry, into urban planning, which is expected to be released this year.
A team from the International Monetary Fund (IMF) will arrive in New Zealand tomorrow to begin assessing the stability of the country’s banking and insurance sectors and financial markets, Finance Minister Bill English says.
The Financial Sector Assessment Programme is a routine part of the IMF’s financial surveillance. The last FSAP for New Zealand in 2004 found that the New Zealand banking system was efficient and adequately supervised.
IHC subsidiary Accessible Properties has been chosen as the preferred provider to take over the ownership of Housing New Zealand’s properties in Tauranga, Ministers Bill English and Paula Bennett say.
Accessible Properties was one of three shortlisted respondents asked to submit a formal proposal to purchase the 1124 properties and take over the management of their tenancies.
The Government is now working with Accessible Properties to finalise the agreement. It is expected negotiations will be completed by October with a final decision to be made shortly after.
Invitations for expressions of interest (EOI) in the Tāmaki redevelopment reaffirm the Government’s commitment to a large-scale transformation of housing in Auckland, Ministers Bill English and Dr Nick Smith say.
The redevelopment of 2500 state-owned houses in the area is being led by the Tāmaki Regeneration Company (TRC), a joint venture between Auckland Council and the Government.
Finance Minister Bill English and State Owned Enterprises Minister Todd McClay have announced the appointment of Jane Taylor to the Board of NZ Post commencing today.
She will become chair of NZ Post when present chairman Sir Michael Cullen retires on 31 October 2016.
“I would like to take this opportunity to thank Sir Michael who has provided excellent stewardship of the Board, and made a significant contribution to the restructuring and success of NZ Post over the past six years,” Mr English says.
Finance Minister Bill English has welcomed the appointment of Lawrence Yule, Geoff Hunt and Fiona Mules to the National Infrastructure Advisory Board, and the appointment of existing board member John Rae as the new board chairman.
“The new members bring skills and experience from the local government, procurement and the construction sectors,” Mr English says.
“These are important attributes for the board which advises the government on a range of infrastructure matters.”
Finance Minister Bill English has arrived in Australia today to attend a range of speaking engagements and bi-lateral meetings.
Mr English will meet with Australian Treasurer Scott Morrison and New South Wales Treasurer Gladys Berejiklian, as well as a range of businesses, to assess the progress of the Australian economy.
The first release of the Investor Confidence Rating (ICR) has given government agencies a mid to high level rating for investment management practices, Finance Minister Bill English says.
“The ICR provides a valuable evidence-based assessment of how the Crown’s most investment-intensive agencies are performing and where they have scope to improve further.”
The Treasury has completed its assessment and rating of the first tranche of government agencies that manage significant Crown investments and assets.
The Government is acting on all recommendations from the Shewan Inquiry into foreign trust disclosure rules, Finance Minister Bill English and Revenue Minister Michael Woodhouse announced today.
The Inquiry made a number of recommendations which propose improvements to registration and disclosure of information, anti-money laundering rules and increased information sharing between government agencies.
“The Government has always been open to making improvements to New Zealand’s already strong tax settings if that was warranted,” Mr English says.
The Prime Minister today announced a new $1 billion Housing Infrastructure Fund to accelerate the supply of new housing where it’s needed most, Finance Minister Bill English and Building and Housing Minister Dr Nick Smith say.
The contestable fund will be open to applications from councils in the highest growth areas – currently Christchurch, Queenstown, Tauranga, Hamilton and Auckland.
Mr English says the Housing Infrastructure Fund will help bring forward the new roads and water infrastructure needed for new housing where financing is a constraint.
