Same Crap, Budget Day

Interesting to note today, during question time in parliament, that Green Party co-leader Russell Norman managed to get Transport Minister Stephen Joyce to admit that no full benefit-cost ratios had been carried out prior to the Government establishing it's seven roads of national significance. This means that we are allowing the Government to sink loads of money into these projects without actually knowing how much benefit they will be or whether they will be of any benefit at all. It would be interesting to stack this up against some other transport projects such as Auckland's rail electrification or CBD underground rail loop. For a government that claims to be financially responsible and business savvy this is worrying indeed.

Also of note today is that Stephen Joyce has hinted at delays to the Auckland rail electrification scheme because the Government wants to explore the possibility of a private-public-partnership (PPP) to purchase rolling stock. Considering how far down the, er, line this project has already gone this action makes little sense, perhaps simply being a delay tactic by a Government that's a bit cold on both rail and public transport in general. In addition, as we are in a recession right now private capital for such a project is the last thing the Government should be expecting or even seeking. Stephen Joyce, apparently, has been in Australia to see how a PPP might work, but he obviously didn't take much notice as PPP's in rail and public transport aren't flush with success there. Seriously, it's a crazy New Zealand right now. Keep you powder dry.