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The New Zealand Government is paying transport contractors in advance to enable suppliers to retain their workforces.
Phil Twyford, NZ Transport Minister announced on Wednesday April 1 that the decision to bring payments forward will provide financial relief for the transport sector throughout the four-week lockdown period.
He said the Advanced Entitlement Payment (AEP) will ensure the sector can quickly re-start work and be in a strong position to respond to any future Government infrastructure packages in the post-lockdown economy.
“Making sure we can build more critical infrastructure as soon as possible will help stimulate the economy and help New Zealand make up its infrastructure deficit,” Twyford said.
The NZ Transport Agency is also continuing planning and design work so that more projects are ready to move to construction as soon as works can resume.
The NZ Transport Agency is now offering a support package for non-essential services, with advance payments being made available to contractors who currently have projects in construction.
The AEP will be available to contractors who currently have National Land Transport Programme funded projects in construction with the NZ Transport Agency.
Earlier this month the NZ government announced it will invest a record $54 billion (AUD$53.5) in land transport.
Twyford said this transport investment will make a real difference to New Zealand’s economic recovery.
The draft Government Policy Statement (GPS) 2021 will guide the Transport Agency to invest more than $4.5 billion a year raised through the National Land Transport Fund and allocate required funding towards rail and public transport.
The Ministry of Transport is inviting stakeholders and the wider public to give feedback on the draft GPS until 5pm, Monday, 27 April 2020.
The post Payments fast-tracked for NZ transport contractors appeared first on Rail Express.
This article first appeared on www.railexpress.com.au
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