Wellbeing Budget 2020

Annex — Budget Initiatives

Lands

Overseas Investment Regime - Phase 2 Implementation

This initiative will fund a number of cost pressures for the Overseas Investment Office (OIO) in operating the Overseas Investment Act 2005. This funding is non-discretionary spending necessary to meet legislative requirements (current or forthcoming) associated with implementing ‘Phase 2' of the Overseas Investment Act reforms in a responsible and financially sustainable manner.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.9 Lands - - 1.880 1.930 1.980 0.750

Overseas Investment Regime Cost Pressures

This initiative will fund a number of cost pressures for the Overseas Investment Office (OIO) in operating the Overseas Investment Act 2005 - a significant portion is associated with the ‘Phase 1' reforms. This funding is non-discretionary spending necessary to meet legislative requirements in a responsible and financially sustainable manner.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.9 Lands - 1.963 4.558 4.558 1.450 3.000

Protecting Crown-Owned Riverbeds from Pests and Weeds

This initiative will fund cost pressures and enable Land Information New Zealand (LINZ) to adopt a proactive compliance approach to remove pests and weeds from around 104,000 hectares of riverbeds. This land is increasingly threatened by the spread of pests and weeds, which disrupt natural processes, alter landscapes, reduce biodiversity and threaten indigenous species. Additional funding will enable LINZ to manage these pests and weeds to deliver better ecological, cultural and social outcomes in a coordinated and cost-effective way.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.9 Lands - 1.724 1.724 1.724 1.724 -
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