Tolls rejection should not hold up critical route

Thursday, April 5th, 2007

Tolls rejection should not hold up critical route

Completing the western ring route in Auckland represents such a fantastic investment for the country that Aucklanders rejection of tolls on it should be seen as a mere hiccup, the Employers & Manufacturers Association (Northern) says.

"The finish date for the western ring route of 2015 can and must be kept intact," said Alasdair Thompson, EMA's chief executive.

"The government must keep its focus of completing the route at Waterview which the Allen report calculated would deliver $4.60 of benefits per annum to the country for each dollar invested.

"If asked to invest in a deal with that type of return anyone would grab it.

"The Prime Minister promised prior to the election her government, if re-elected would fund completion of the network by 2015 provided Aucklanders agreed to pay some toll or other contributions directly from the region.

"The understanding we have today is that government remains committed to completion by 2015 and will address the funding gap left by Transit's decision not to toll.

"Prudential borrowing and the government surplus should be used to as it's a fantastic investment.

"As a last resort a regional petrol tax could be considered to help fund any debt servicing that may be needed."

ENDS

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