18 Dec 2011

No forecast shortfall to pay for roading projects

8:15 am on 18 December 2011

The Ministry of Transport says there is no longer a $1 billion shortfall in funding for planned roading projects over the next decade.

Documents obtained by Radio New Zealand show the ministry forecast in February that even with increases in fuel excise and road-user charges there would be a $950 million shortfall between revenue and anticipated expenditure.

But another forecast in September says there will be almost no funding shortfall.

No reasons are given for the huge difference in the two forecasts.

The ministry says however that forecast figures regularly change.