National wants to creat a National Infrastructure Bank that would provide finance and advice to central and local government infrastructure projects.
Launching the policy today, National leader Judith Collins said the new institution would support the development of new toll roads, funding green projects, water storage projects, and social infrastructure such as schools.
National finance spokesman Paul Goldsmith said three waters infrastructure upgrades could run to billions of dollars on their own, and greater scrutiny of this spending was needed.
“Our infrastructure bank will provide clear lines of accountability to not only ensure value for money, but also deliver tangible assets that underpin future development."
The government would put in equity capital, and the bank would then borrow from institutional investors in debt markets to fund infrastructure projects.