Just recently National announced that several of our Roads of National Significance (RoNS) have reached the next phase of development.
Our goal is to make sure that New Zealand’s transport system enables Kiwis to get around quickly and safely. These RoNS will reduce travel times, boost productivity and enabling economic growth.
As an example – the investment case for the Te Hana to Whangārei section of the Northern Expressway shows that this will reduce travel time by up to 38 minutes.
A delivery driver doing this route and back every day would save 76 minutes. That’s more trips – meaning freight can move around quicker and businesses can hire and grow.
We know how important investment in infrastructure is – and these roads will create thousands of jobs and open up land to zone for thousands of new houses.
The Roads of National Significance programme under the last National Government built some of the safest and resilient roads in New Zealand – such as the Waikato Expressway, the Waterview Tunnel, the Tauranga Eastern Link and Transmission Gully.
It’s important that our infrastructure is resilient and future-proofed, and these roads will help to ensure that regions aren’t shut off or adversely affected when there are severe weather events.
Alongside our RoNS programme, we have $7billion worth of infrastructure projects getting underway before Christmas.
These projects include new roads, hospitals, schools and courts. Not only will these projects, when completed, make all Kiwis better off, this investment will support those in and around the construction sector by creating thousands of jobs across the country.
Last week, I was overseas at APEC and the East Asia Summit building relationships with other world leaders and pushing New Zealand’s case as a great place to do business and trade with.
In New Zealand one in four of our jobs are tied to trade, which is why it is a key part of our plan to grow the economy, create jobs, lift wages, and provide more opportunities for all kiwis.
During this visit it was great to see two Malaysian companies announce they are investing in New Zealand.
Yinson Renewables announced plans to invest in a pipeline of energy projects worth 1 Gigawatt – that’s enough to power around 750,000 homes.
The company has been working with InvestNZ – an initiative set up by our Government – to bring this investment here.
YTL Corporation announced they have acquired the 225-room Hotel Indigo in Auckland in a $160m deal. The agreement is the second-largest hotel transaction in New Zealand this year.
Both these announcements are a strong vote of confidence in our economy.
While my team and I were hard at work promoting New Zealand overseas, Labour, the Greens, and Te Pāti Māori were dreaming up new ways to tax you.
Labour has announced a Capital Gains Tax which would impose a new tax on every piece of rental and commercial property.
It will hit businesses, savings, and investment which New Zealand needs for a growing economy.
Make no mistake, this is a broad tax and will impact most New Zealanders.
If you have a Kiwisaver that invests in New Zealand businesses, you could face lower returns as your investments are hit by this tax. If you are flatting, your rent could rise because of this tax.
And it may not stop there. The Greens believe they can make Chris Hipkins go even further, in the form of a wealth tax. This could see most farmers and even pensioners face tens of thousands of dollars in extra taxes every year.
The contrast could not be clearer.
National is working hard to grow the economy to make you and your family better off while Labour is focused on taxing you more. -Hon Christopher Luxon, Prime Minister of New Zealand