Mainland gets a basinful of goodies
This should not be lost on Wellington, and yesterday’s Budget was a recognition of this.
The additional funding will help continue our city’s positive rebuild momentum, providing confidence with a forward work programme for the construction sector and supporting further investment by the private sector, particularly in the central city.
To be an attractive place for people to live, Christchurch needs infrastructure in line with its size and importance as the South Island capital and the second-largest city in New Zealand.
A key element of the Budget that will help the city go from strength to strength is the commitment to inject an additional $1 billion into business research and development.
This incentive will see eligible businesses receive 12.5 cents back for every dollar they spend on research and development.
The funding is available to all businesses spending more than $100,000 a year on research and development.
This additional spending is welcome as it will help our businesses rapidly test and commercialise new ideas.
A further $100 million of new capital funding goes to the Green Investment Fund, designed to encourage private-sector investment in high-value, low-carbon industries, clean tech and new jobs.
The Green Investment Fund also aligns with the Christchurch City Council’s strategic priority to be a leader on climate change and its commitment to being net carbon neutral by 2030.
Another $2.6m has also been committed to protecting the unique landscape and biodiversity of the Mackenzie Basin as part of additional Department of Conservation operating funding of
$181.6m.
This is a positive step towards maintaining a quality visitor experience in the Mackenzie Basin, which is very well served from Christchurch as the gateway to the South Island.
The $62m allocated in new capital investment for the Christchurch Schools Rebuild programme will go some way to ease the anxiety within many Canterbury communities post-quake.
Investment to date and the additional funding confirmed yesterday has resulted in some modern fit-for-purpose environments and will be a comfort to the sector and community.
The unique post-quake environment in Canterbury has resulted in immense budgetary pressure on the Canterbury District Health Board.
Additional funding to Canterbury, from the
$2.2 billion confirmed for district health boards over the next four years, will go some way to relieving pressure on an overburdened system.
The mental health burden in particular needs specific and targeted funding.
On balance Canterbury and the South Island should benefit from this Budget, though a great deal of the policy detail will determine whether it delivers on its promise.