Opportunity launches Intergenerational Infrastructure policy

Opportunity will lock New Zealand’s 30-year infrastructure plan into law, direct 60% of infrastructure spending to maintenance and responsibly raise up to $60 billion over ten years through a new infrastructure fund. 

 

The party’s Intergenerational Infrastructure policy – launched today at an Infrastructure New Zealand event in Auckland – is a package of long-term reforms to “end the political pendulum that sees New Zealand spend extensively on infrastructure, while our assets decline” says leader Qiulae Wong.

 

“For decades we’ve run fifty-year assets on three-year political cycles; cancelling each other’s projects, prioritising ribbon-cutting new projects over maintenance, and passing the infrastructure bill to our kids. It’s time to plan and build for the future.” 

 

In February, Te Waihanga launched New Zealand’s first 30-year National Infrastructure Plan. The Government accepted all of its recommendations with support from Labour and the Greens. 

 

“Agreement that broad comes along once in a generation. As the only party that can work constructively with the left and right blocs, we consider it our job to make that agreement stick, through the next election and the ten after it” says Wong. 

 

The  Intergenerational Infrastructure policy rests on three pillars:

 

• Lock in the plan. Establishing the 30-year National Infrastructure Plan and its project pipeline across party lines, elevating Te Waihanga into an independent National Infrastructure Agency, and instituting public progress scorecards at 100 days, 12 months and three years.
• Prioritise maintenance. Mandating that 60% of infrastructure spending is directed to maintenance and renewal, establishing a mandatory asset register and management plan for every public asset owner, and improving procurement and project planning skills across government departments. 
• Finance infrastructure properly. Raising up to $60 billion over ten years through a new Infrastructure Fund and borrowing at Crown rates over private finance, and expanding the funding toolbox for councils – including congestion charging, visitor levies and value capture. 

 

Opportunity says the programme is fiscally measured and will lift infrastructure investment from about 5–6% of GDP to 6–7%, with interest costs under 1% of GDP. 

 

“This is careful borrowing against one of the strongest balance sheets in the developed world, for assets that will serve us for a century” says Wong.

 

Intergenerational Infrastructure sits alongside Opportunity’s Abundant Energy, Climate Action and Affordable Housing policies as a broad policy package to address systemic built environment issues in New Zealand.