Release: Show us the money - National’s giant transport funding pothole continues to grow
National’s transport plan pothole blew out another $1.4 billion dollars this morning after Simeon Brown overruled Nicola Willis says Labour Transport Spokesperson David Parker.
“Brown saying there would be no new petrol tax or road user charges for the next three years means that they are at least $1.4 billion short for the first three years,” David Parker said.
“This will also have a knock on effect for Waka Kotahi’s ability to fund part of the programme through borrowings.
“Nicola Willis knows that National has a giant funding pothole in its transport plan. That’s why last week she said fuel taxes would go up in the third quarter of next year - at the same time as Labour’s first two cent increase from 1 July 2024. It seems that Luxon and Simeon Brown have over-ruled her.
“Christopher Luxon can’t hide behind fancy technical terms like ‘equity finance, value capture and cost recovery’ - whether funding comes from the government or the private sector it still has to be paid for.
“This shortfall in the first three years is only part of National’s overall $9.5 billion plus shortfall over ten years.
“This is why even Act called National’s plan wishful thinking.
“National now need to say how they will fund their transport plan over the next three years,” David Parker said.
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