The Provincial Growth Fund

The Coalition Government has established a $1.0 billion per year Provincial Growth Fund (PGF). The PGF will support the Government's overall goal of productive, sustainable and inclusive growth by investing in regional economic development.

Budget 2018 allocates $1.0 billion to the PGF across both operating and capital expenditure, as set out below.

Operating

 

Capital

$536m
of new funding from Budget 2018 for:

  • part of the One Billion Trees programme, and
  • investment-ready initiatives for the current year that meet the criteria for the Fund, and funding for administration.
 

$236m
of new funding from Budget 2018 for:

  • part of the One Billion Trees programme, and
  • investment-ready initiatives for the current year that meet the criteria for the Fund.

$148m
of existing funding. This includes $75.0 million from the Tourism Infrastructure Fund and $13.0 million for One Billion Trees from the Budget 2017 Between-Budget contingency.

 

$80m
of existing capital funding. This reflects a portion of KiwiRail's capital injection for the 2018/19 financial year.

Total Operating
$684m

 

Total Capital
$316m

$1b

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