11 Aug 2010

Private investment must be considered, says English

6:58 pm on 11 August 2010

Any new Government project worth more than $25 million will now have to be considered for a public private partnership.

In a speech in Auckland on Wednesday, Finance Minister Bill English said that the Government, as such a large stakeholder in New Zealand's infrastructure, has a responsibility to manage its assets well.

Mr English said any new project costing more than $25 million over its lifetime will have to be considered for different procurement options, including private sector investment.

Government agencies will also be required to demonstrate an economic and financial rationale for major projects, and report directly to Cabinet on the results produced by those investments.