Indicative funding update: continuous programmes
In late May, we’re planning to release indicative funding for continuous programmes in the 2021-24 National Land Transport Programme (NLTP). This includes: local road maintenance and public transport services.
This is later than originally planned as we are continuing to work with the Ministry of Transport and Treasury on funding options that will help ease our funding constraints. We expect to know the outcome of these discussions next month and be in a better position to provide a more accurate indication of funding for these programmes.
We acknowledge this delay may have an impact on your work programme. We ask that you bear with us as we work as quickly as we can to achieve the best possible outcomes for your region.
The funding councils have requested for continuous programmes is significantly higher than the funding provided in the 2018-21 NLTP. On average councils have requested 21% more than they received in 2018-21 NLTP. However, in some cases it's as much as 70% more.
For this reason, it’s important we take the time to ensure we explore all additional funding options to fund as much of the programme as practical to retain existing levels of service.
It’s important to remember the programme of activities and projects within an NLTP will continue to evolve and change during the NLTP period. We can have both increases and decreases in our forecast revenue and the spend by individual councils can differ from that initially planned. Our investment levels can also change over the three-year period.
We encourage you to continue to talk to and work closely with your Investment Advisor.