An independent entity is being created to oversee New Zealand’s infrastructure, Infrastructure Minister Shane Jones announced.
Mr Jones said it was to increase certainty to the industry and also to provide better advice to Ministers.
"We're facing a major infrastructure deficit with no plan to tackle it. We've struggled to get a clear picture from officials of its scale, when it would hit us the worst and in which sectors," Mr Jones said.
He said Treasury was unable to adequately "quantify the value of the deficit" the country is facing.
"It doesn’t hold accurate or up-to-date information about all infrastructure projects across all sectors and advises that agencies themselves may not necessarily know the extent of their future capital needs."
"This new entity will provide that certainty so we can make the right investments, in the right places and the right time."
He hoped the entity would be running by the end of next year.
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