Budget Overview from BDO

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The 2022 Budget confirmed the following new policy areas for business The 2022 Budget confirmed the following new policy areas for business Infrastructure - $61.9B on infrastructure over the next five years, including:

  • $349M of capital funding to replace and modernise rail assets

  • $1.B of capital funding for upgrading our health infrastructure to support current and future demand, including priority capital projects such as Whangārei Hospital and starting the redevelopment of Nelson Hospital

  • $385M of capital and $50M operating funding for building and refurbishing new classrooms

  • Further funding to progress the delivery of the Auckland Light Rail project.

Housing  - $1.8B to improve housing outcomes, including: 

  • $73M to extend the Warmer Kiwi Homes programme until June 2024 

  • $221M of total operating funding for the Affordable Housing Fund (formerly the Residential Development Response Fund) •

  • $1.0B of total operating funding to support the delivery of public and transitional housing, including $75M of total operating funding for the Homelessness Action Plan and $355M of total operating funding for emergency housing. 

Skills development - $230M of total operating funding to extend the Apprenticeship Boost scheme until the end of 2023 to support an expected 38,000 apprentices.

In addition, a Construction Sector Accord Transformation Plan ($37M total operating) has been announced, aimed at increasing the productivity, capability, and resilience of our construction sector, while maintaining a culture that fosters innovation and values our construction workforce.

You can access the full BDO 2022 Budget commentary here.

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