Mixed reaction to ‘gigantic’ Budget

‘‘Overall, Budget 2020 gives our region a reasonable foundation on which to tackle the impacts of Covid-19.’’ Justine Gilliland Venture Taranaki chief executive

Taranaki leaders appear to be broadly satisfied with this year’s Budget, but are seeking more information on how it will affect the region.

The Government is promising to spend up to $50 billion fighting the coronavirus crash with spending on jobs and infrastructure, including $3.2b to extend the wage subsidy scheme for another eight weeks and $1.6b for trades and apprenticeship training.

But Arun Chaudhari, chief executive of the Taranaki Chamber of Commerce, said while the Budget was ‘‘gigantic’’ and generous in providing a further wage subsidy, it would build up huge debt.

He also wanted Taranaki to see a ‘‘fair share’’ of the trades and apprenticeship money.

‘‘We would like a more collaborative approach from Central and Local Government to use the Chamber as a means to assist businesses at this critical time in history.’’

Justine Gilliland, chief executive of regional development agency Venture Taranaki, said they were hoping for greater clarity on shovelready projects ‘‘that could have a big impact for Taranaki’s enterprises and economy’’.

‘‘The Budget allocates $3bn to support the 1924 shovel-ready projects submitted, totalling $136 billion.

‘‘This overdemand indicates just how strong the need for investment in our nation’s infrastructure is, and $3b is just a start.

‘‘Overall, Budget 2020 gives our region a reasonable foundation on which to tackle the impacts of Covid-19, but makes it clear that Taranaki will ultimately define our own destiny.’’

New Plymouth mayor Neil Holdom said it was not yet clear how much funding, such as for infrastructure, trades training, or health and education would be allocated to Taranaki.

He said they were seeking clarification that transitioning Taranaki to a cleaner future, away from oil and gas, was still a priority for the Government.

‘‘Overall I think the Finance Minister has done a good job in a really short time frame, in an environment of extreme uncertainty.’’

Taranaki is relatively wellplaced to deal with a post-Covid-19 recession, with a strong export-led rural economy, Taranaki Federated Farmers president Mark Hooper said in a statement.

‘‘The prospect of regional funding for environmental jobs that support Taranaki’s predator-free programme, biodiversity development and weed control is a potential win-win.’’

New Plymouth MP and National energy spokesman Jonathan Young said the $151 million for decommissioning oil fields obviously refers to the Tui field.

‘‘It would be good if Taranaki companies had the opportunity to do this decommissioning work as many of them lost money when Tamarind Offshore went into liquidation.’’

‘‘The budget seems to have set aside extra funding for the National New Energy Development Centre, with a total now over five years of $34 million."