Budget 2024 invests $1.2 billion over three years in a new Regional Infrastructure Fund covering:
- flood protection and energy security projects, including schemes to protect agricultural land
- projects supporting increased productivity in regional economies
First in line are areas still recovering from Cyclone Gabrielle such as the East Cape region and parts of Northland.
A 30-year National Infrastructure Plan and National Infrastructure Agency are also being established to expedite development across road, rail and public transport, educational institutions, defence capability, prison facilities and social housing.
The First Home Grant will be scrapped, the funding going towards an additional $140m for social housing.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.
