More focused overhaul for PGF
THE Provincial Growth Fund will be overhauled, Finance Minister Grant Robertson says.
The PGF, a policy of the New Zealand First party brought into being during the last term of government, has been responsible for spending billions of dollars on development projects in the provinces, including the redevelopment of the Invercargill CBD and reviving the KiwiRail Hillside workshop in Dunedin.
‘‘We campaigned on building on what has been done through the massive investment of the PGF and making sure we actually implement all the projects within it,’’ Mr Robertson said.
‘‘But we want to move to a slightly more strategic focus, putting aside seed funding to work with regions on their plans and building things from the ground up.’’
On Monday, Prime Minster Jacinda
Ardern named Napier MP Stuart Nash as the new Minister for Economic and Regional Development.
Mr Robertson said he would work with Mr Nash refining the PGF’s role.
‘‘The PGF did a lot of good, but it was also a very topdown endeavour, so we are looking at a reset in that regional development space, and I’m looking forward to working with Stuart on that.’’
The economic impact of Covid19 was still being felt, particularly in the regions, and so retention of a programme with some kind of provincial focus was important, Mr Robertson said.
‘‘We need to be mindful of Covid19 but we also have to build back better, using the foundation created by the infrastructure commission, the major funding boost provided by the New Zealand upgrade programme and the infrastructure reference group.
‘‘It’s also about working with other ministers who have roles in transport, health, education, those capitalintensive areas, and driving those forward and getting the results that we want.’’