¹ New Zealand Infrastructure Commission, Build or Maintain? New Zealand’s Infrastructure Asset Value, Investment, and Depreciation, 1990–2022 (2024), https://tewaihanga.govt.nz/our-work/research-insights/build-or-maintain.

² Sapere, The Cost of Consenting Infrastructure Projects in New Zealand. A Report for The New Zealand Infrastructure Commission (2021), https://tewaihanga.govt.nz/our-work/research-insights/the-cost-of-consenting-infrastructure-projects-in-new-zealand

³ New Zealand Treasury, He Tirohanga Mokopuna 2025 - Statement on the Long Term Fiscal Position  (2025), https://www.treasury.govt.nz/publications/ltfp/he-tirohanga-mokopuna-2025

⁴ Te Waihanga, Build or Maintain? 

⁵ ‘Asset Life Cycle Management’, OECD Infrastructure Toolkit 2023, https://infrastructure-toolkit.oecd.org/governance/make-sure-the-asset-performs-throughout-its-life/

⁶ New Zealand Infrastructure Commission, Who’s Working in Infrastructure? A Baseline Report (2023), https://tewaihanga.govt.nz/our-work/research-insights/who-s-working-in-infrastructure

⁷ New Zealand Infrastructure Commission, Build or Maintain?

⁸ This includes network and social infrastructure and some other public capital investment. It excludes private housing investment, but includes infrastructure to support housing development and central and local government investment in social housing.

⁹ New Zealand Infrastructure Commission, Nation Building: A Century and a Half of Infrastructure Investment in New Zealand (2025), https://tewaihanga.govt.nz/our-work/research-insights/a-century-and-a-half-of-infrastructure-investment-in-new-zealand

¹⁰ New Zealand Infrastructure Commission, Investment Gap or Efficiency Gap? Benchmarking New Zealand’s Investment in Infrastructure (2021), https://tewaihanga.govt.nz/our-work/research-insights/investment-gap-or-efficiency-gap-benchmarking-new-zealand-s-investment-in-infrastructure

¹¹ City of Sydney, ‘The City at a Glance’ 2023 https://www.cityofsydney.nsw.gov.au/guides/city-at-a-glance

¹² New Zealand Infrastructure Commission, The Lay of the Land: Benchmarking New Zealand’s Infrastructure Delivery Costs (2022), https://tewaihanga.govt.nz/our-work/research-insights/the-lay-of-the-land-benchmarking-new-zealand-infrastructure-delivery-costs

¹³ New Zealand Infrastructure Commission, Build or Maintain?

¹⁴ New Zealand Productivity Commission, Productivity by the Numbers 2013 to 2023 (2023), https://www.treasury.govt.nz/publications/pcrp/productivity-numbers-2013-2023

¹⁵ ‘Structural’ means that it is being driven by things other than short-term economic shocks. 

¹⁶ New Zealand Treasury, Long Term Fiscal Vision - the Short Version (2025), https://www.treasury.govt.nz/sites/default/files/2025-11/ltfs-short-version-2025-v2.pdf

¹⁷ New Zealand Treasury, He Tirohanga Mokopuna 2025 - Statement on the Long Term Fiscal Position.

¹⁸ S&P Global, Various Rating Actions Taken on New Zealand Councils on Lower Institutional Framework Assessment (2025), https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3338977

¹⁹ New Zealand Infrastructure Commission, Getting What We Need: Public Agreement and Community Expectations (2025), https://tewaihanga.govt.nz/our-work/research-insights/getting-what-we-need

²⁰ New Zealand Infrastructure Commission, How Is Our Infrastructure Tracking? (2024), https://tewaihanga.govt.nz/our-work/research-insights/how-is-our-infrastructure-tracking 

²¹ Peer countries vary between sectors, reflecting different factors that are relevant for different networks. The comparator countries are: Czechia (CZE), Canada (CAN), Finland (FIN), Sweden (SWE), Iceland (ISL), Norway (NOR), Chile (CHL), Greece (GRC), Japan (JPN), Spain (ESP), Colombia (COL), Costa Rica (CRI), the United Kingdom (UK), Australia (AUS), Denmark (DEN), the United States (USA), and Ireland (IRL).

²² New Zealand Infrastructure Commission, Infrastructure Needs Analysis Forecast: Results and Modelling Technical Report (2025), https://tewaihanga.govt.nz/our-work/research-insights/infrastructure-needs-analysis

²³ New Zealand Infrastructure Commission, From Plans to Projects: An Assessment of How Central Government Plans, Funds, and Manages Infrastructure (2025), https://tewaihanga.govt.nz/our-work/research-insights/from-plans-to-projects

²⁴ New Zealand Infrastructure Commission, Build or Maintain?

²⁵ New Zealand Infrastructure Commission, Invest or Insure: Preparing Infrastructure for Natural Hazards (2025), https://tewaihanga.govt.nz/our-work/research-insights/invest-or-insure

²⁶ Sapere, Natural Hazards-Related Public Spending in New Zealand: Tracking Costs over Time by the Nature of Spending (2025), https://srgexpert.com/wp-content/uploads/2025/05/Natural-hazards-related-public-spending-in-New-Zealand-16.05.25.pdf

²⁷ Stats NZ, National Population Projections: 2024(Base)–2078, https://www.stats.govt.nz/information-releases/national-population-projections-2024base2078/

²⁸ These figures reflect the range from the 2.5th percentile to the 97.5th percentile of the projection range.

²⁹ Stats NZ, National Population Projections: 2024(Base)–2078.

³⁰ New Zealand Treasury, Long-Term Fiscal Model (2025), https://www.treasury.govt.nz/publications/treasurys-stewardship-reports/long-term-fiscal-position/long-term-fiscal-model

³¹ New Zealand Climate Change Commission | He Pou a Rangi, Advice on the Fourth Emissions Budget (2024), https://www.climatecommission.govt.nz/our-work/advice-to-government-topic/preparing-advice-on-emissions-budgets/advice-on-the-fourth-emissions-budget 

³² Ministry of Business, Innovation & Employment, Ultra-Fast Broadband Roll-out Now Complete (2022), https://www.mbie.govt.nz/about/news/ultra-fast-broadband-roll-out-now-complete 

³³ Stats NZ. Capital Goods Price Index growth versus Consumer Price Inflation growth, 2000Q1 to 2025Q1.

³⁴Electricity Networks Aotearoa, ‘Traffic Cones Are Increasing the Price of Power’, (2025), https://www.ena.org.nz/our-work/news/traffic-cones-are-increasing-the-price-of-power 

³⁵ New Zealand Infrastructure Commission, Build or Maintain? 

³⁶ Around 5% of GDP in a scenario with lower bound impacts from population and economic growth to around 7% of GDP in a scenario with upper bound impacts from population and economic growth. 

³⁷ New Zealand Infrastructure Commission, Foundations for Growth: How Infrastructure Can Increase Productivity (2026). 

³⁸ New Zealand Infrastructure Commission, Foundations for Growth: How Infrastructure Can Increase Productivity.

³⁹ New Zealand Treasury, He Tirohanga Mokopuna 2025 - Statement on the Long Term Fiscal Position.

⁴⁰Nicholson Consulting, Analysing the Impact of Long-Term Drivers on Māori Phase 2 Report for the New Zealand Infrastructure Commission (2025), https://media.umbraco.io/te-waihanga-30-year-strategy/l1ofb4ts/analysis-of-the-long-term-drivers-on-maori-nicholson-consulting-report.pdf 

⁴¹Health New Zealand | Te Whatu Ora, Health Infrastructure Plan (2025), https://www.tewhatuora.govt.nz/publications/health-infrastructure-plan 

⁴² New Zealand Herald, ‘Councils Expected to Foot a near $48 Billion Bill for Local Water Done Well’, 1 December 2025, https://www.nzherald.co.nz/nz/politics/councils-expected-to-foot-a-near-48-billion-bill-for-local-water-done-well/J42ZEBPXTJBTPKVJS3TVUDITZE/ 

⁴³ Palmerston North City Council, ‘What Is Nature Calls?’ (2025), https://www.pncc.govt.nz/Council/What-were-doing/Nature-Calls/What-is-Nature-Calls 

⁴⁴ This is addressed in previous modelling commissioned by Electricity Networks Aotearoa. 

⁴⁵ Toby Stevenson and Michael Young, Total Household Energy Costs NZ (2022), https://www.ena.org.nz/assets/DMSDocuments/2022-Nov-Total-Household-Energy-Costs.pdf 

⁴⁶ In effect, Government is providing ‘insurance’ or ‘income smoothing’ services in areas where markets are incomplete.

⁴⁷ PwC, Approaches to Infrastructure Pricing Study: Part 2 - Current Pricing Analysis (2024), https://tewaihanga.govt.nz/our-work/research-insights/network-infrastructure-pricing-study

⁴⁸ PwC, Approaches to Infrastructure Pricing Study: Part 2 - Current Pricing Analysis. 

⁴⁹ Water New Zealand, ‘Water Metering – It Makes Good Cents : Water New Zealand’, Water, no. 238 (April 2025), https://www.waternz.org.nz/Story?Action=View&Story_id=2573

⁵⁰ New Zealand Infrastructure Commission, How Is Our Infrastructure Tracking?

⁵¹ Ernst and Young, Auckland’s Cost of Congestion (Auckland Transport, (2025), https://at.govt.nz/media/pqxhk3cn/auckland-transport-cost-of-congestion-white-paper.pdf

⁵² New Zealand Infrastructure Commission, Buying Time: Toll Roads, Congestion Charges, and Transport Investment (2024), https://tewaihanga.govt.nz/our-work/research-insights/buying-time-toll-roads-congestion-charges-and-transport-investment

⁵³ New Zealand Treasury, Funding and Financing Framework (2024), https://www.treasury.govt.nz/publications/guide/funding-and-financing-framework

⁵⁴ New Zealand Infrastructure Commission, How Is Our Infrastructure Tracking?

⁵⁵ Michael Pickford, ‘State Highway Investment in New Zealand: The Decline and Fall of Economic Efficiency’, Policy Quarterly 9, no. 3 (2013), https://doi.org/10.26686/pq.v9i3.4454

⁵⁶ Hon Chris Bishop, ‘Speech to the Future Roads 2025 NZ Roading Industry Conference', 19 November 2025, https://www.beehive.govt.nz/speech/speech-future-roads-2025-nz-roading-industry-conference

⁵⁷ New Zealand Infrastructure Commission, Getting What We Need.

⁵⁸ New Zealand Ministry of Transport, The Future of Rail: New Planning and Funding Framework for Heavy Rail in New Zealand (2019), See recommendation 3 (pg. 21), https://www.transport.govt.nz/assets/Uploads/Cabinet/The-Future-of-Rail-Redacted-12-2019.pdf

⁵⁹ KiwiRail, Rail Network Investment Programme 2024-27 (2025), See Schedule 1, Table 2, 57, https://www.kiwirail.co.nz/assets/Uploads/Our-network/Funding-Our-Network/RNIP-document_2025_Web.pdf

⁶⁰ PwC, Approaches to Infrastructure Pricing Study: Part 2 - Current Pricing Analysis.

⁶¹ Principle 12 states that 'public subsidies are warranted where broad net benefits to the public would arise from greater use of the network or investment in it'.

⁶² New Zealand Infrastructure Commission, Understanding capacity upgrade pressures across infrastructure networks (2026). This comparison draws upon project cost ranges published by the New Zealand Transport Agency and unit cost benchmarking information previously published by the New Zealand Infrastructure Commission.

⁶³ New Zealand Transport Agency | Waka Kotahi, Standardised designs: NZTA Standardised design solutions for use on State Highway Roads of National Significance (2025),

⁶⁴ New Zealand Infrastructure Commission, Understanding capacity upgrade pressures across infrastructure networks (2026). This comparison draws upon project cost ranges published by the New Zealand Transport Agency and unit cost benchmarking information previously published by the New Zealand Infrastructure Commission.

⁶⁵ Austroads engineering guidance states that a two-lane highway can carry 3,200 passenger-car equivalents per hour, in both directions. We adjusted this to vehicles per hour using the Ministry of Transport's passenger-car equivalency factor of 3 for heavy vehicles towing trailers, and NZTA guidance on the heavy vehicle share of traffic (under 5% in urban environments; over 10% in rural environments).

⁶⁶ Austroads, Guide to Traffic Management Part 3: Transport Studies and Analysis Methods, in ISBN: 978-1-925854-77-0 (2020), Australia and New Zealand, https://austroads.gov.au/publications/traffic-management/agtm03

⁶⁷ Hourly bus capacity assumptions are sourced from Auckland Transport's capacity planning assumptions.
Auckland Transport, Te Ara Whakawhiti Tere o Tāmaki Makaurau Auckland Rapid Transit Pathway (2025), https://at.govt.nz/media/udzjm2fk/artp-report.pdf

⁶⁸ Auckland Transport, Te Ara Whakawhiti Tere o Tāmaki Makaurau Auckland Rapid Transit Pathway (2025), https://at.govt.nz/media/udzjm2fk/artp-report.pdf

⁶⁹ New Zealand Transport Agency | Waka Kotahi, Auckland Harbour Bridge Factsheet (2022), https://www.nzta.govt.nz/assets/projects/auckland-harbour-bridge/auckland-harbour-bridge-factsheet.pdf

⁷⁰ New Zealand Infrastructure Commission, Understanding capacity upgrade pressures across infrastructure networks (2026). Transport modelling suggests a total of around 224,000 vehicles would use both the new and existing crossings in 2051. Charging a $9 toll would divert a substantial share of these users to other transport modes or other routes, leading to net present value revenues on the order of $7-9 billion.

⁷¹ Land Transport Management Act (2003) Section 68(2)b(iii) requires the GPS to address likely revenue, duties and charges but does not specify how revenue levels should be set. Similarly, neither the Road User Charges Act (2012) or Land Transport Management (Apportionment and Refund of Excise Duty and Excise-Equivalent Duty) Regulations (2004) provide a methodology for calculating land transport user charges.

⁷² New Zealand Infrastructure Commission, Nation Building. Figure 37.

⁷³ FED/RUC were last increased in July 2020 (https://www.transport.govt.nz/area-of-interest/revenue/rates-of-petrol-excise-duty-and-road-user-charges). Between Q2 2020 and Q3 2025 average annual inflation (CPI) was 4.3% for a cumulative total of 20.6%. Reserve Bank of New Zealand, 'Inflation Calculator', 2025, https://www.rbnz.govt.nz/monetary-policy/about-monetary-policy/inflation-calculator

⁷² New Zealand Infrastructure Commission, How Much Do We Pay for Infrastructure? Household Expenditure on Infrastructure Services (2023), Figure 1, https://tewaihanga.govt.nz/our-work/research-insights/household-expenditure-on-infrastructure-services

⁷⁵ Douglas Sutherland et al., 'Public Policies and Investment in Network Infrastructure', OECD Journal Economic Studies 2011, no. 1 (2011): 23, https://doi.org/10.1787/eco_studies-v2011-1-en

⁷⁶ New Zealand Infrastructure Commission, From Plans to Projects: An Assessment of How Central Government Plans, Funds, and Manages Infrastructure.

⁷⁷ New Zealand Treasury, Budget Policy Statement 2026 (2025), https://www.treasury.govt.nz/publications/budget-policy-statement/budget-policy-statement-2026

⁷⁸ New Zealand Infrastructure Commission, Mental Health Infrastructure Programme Review - Technical Review for Te Whatu Ora (2022), https://tewaihanga.govt.nz/our-work/reviews/mental-health-infrastructure-programme-review

⁷⁹ Stats NZ projections, as of September 2025. The Commission defines population stagnation and decline as total growth in a territorial authority from 2023 to 2053 of between -5% and 5%.

⁸⁰ New Zealand Infrastructure Commission analysis of Ministry of Education data, as of November 2025.

⁸¹ Department of the Prime Minister and Cabinet, CO (23) 9: Investment Management and Asset Performance in Departments and Other Entities (2023), https://www.dpmc.govt.nz/publications/co-23-9-investment-management-and-asset-performance-departments-and-other-entities

⁸² This is the latest update to the Cabinet Office circular, following earlier versions in 2019, 2015, and 2011.

⁸³ OECD Infrastructure Toolkit, 'Asset Life Cycle Management'.

⁸⁴ New Zealand Infrastructure Commission et al., Taking Care of Tomorrow Today: Asset Management State of Play (2024), https://tewaihanga.govt.nz/our-work/research-insights/taking-care-of-tomorrow-today

⁸⁵ The eight capital-intensive agencies referenced here are: New Zealand Transport Agency, Ministry of Education, Health New Zealand, Department of Corrections, Ministry of Justice, Kāinga Ora, New Zealand Defence Force, and a combined submission from the New Zealand Defence Force and the Ministry of Defence.

⁸⁶ Some Crown entities get funding that is not linked to depreciation, like the New Zealand Transport Agency, which is mostly funded through land transport charges that are set by the Government.

⁸⁷ Department of the Prime Minister and Cabinet, CO (23) 9.

⁸⁸ New Zealand Infrastructure Commission, Build or Maintain?

⁸⁹ New Zealand Defence Force, The New Zealand Defence Force Estate and Future Investment via Public Private Partnerships (2024), https://www.nzdf.mil.nz/assets/Uploads/DocumentLibrary/CBC-24-MIN-0068_NZDF-Estate-and-Future-Investment-via-Public-Private-Partnerships.pdf

⁹⁰ Office of the Auditor-General New Zealand, Observations from Our Audits of Councils' 2024-34 Long-Term Plans (2025), https://oag.parliament.nz/2025/long-term-plans/pciart2.htm

⁹¹ New Zealand Infrastructure Commission, Nation Building; updated to 2025 New Zealand dollars.

⁹² New Zealand Infrastructure Commission, Invest or Insure.

⁹³ New Zealand Government, Government Inquiry into the Response to the North Island Severe Weather Events (2024), https://www.dia.govt.nz/Government-Inquiry-into-the-Response-to-the-North-Island-Severe-Weather-Events

⁹⁴ Department of the Prime Minister and Cabinet, New Zealand's National Risk Register (2025), https://www.dpmc.govt.nz/our-programmes/risk-and-resilience/national-risk-and-resilience-framework/new-zealands-national-risks

⁹⁵ National Cyber Security Centre, 'By the Numbers', 2024, https://www.ncsc.govt.nz/insights-and-research/cyber-threat-reports/20232024-cyber-threat-report/by-the-numbers/

⁹⁶ The New Zealand Treasury, Half Year Economic and Fiscal Update 2025 (2025), https://www.treasury.govt.nz/publications/efu/half-year-economic-and-fiscal-update-

⁹⁷ Office of the Auditor-General, Insuring Public Assets (2013). https://oag.parliament.nz/2013/insuring-public-assets

⁹⁸ National Emergency Management Agency, 'Response, Other Response and Recovery Claims Following an Emergency Event', accessed 16 December 2025, https://www.civildefence.govt.nz/guidance-training/guidelines/factsheets/response-other-response-and-recovery-claims-following-an-emergency-event

⁹⁹ Earth Sciences New Zealand, 'Nationwide Study Reveals Escalating Flood Risk', accessed 16 December 2025, https://www.earthsciences.nz/news/nationwide-study-reveals-escalating-flood-risk

¹⁰⁰ Stats NZ, 'Infoshare Economic Indicators; CPI Datasets', n.d., accessed 16 December 2025, https://infoshare.stats.govt.nz/infoshare/Default.aspx

¹⁰¹ Resilient River Communities: Quarterly Update December 2023 (2023), https://www.resilientrivers.nz/files/1705451844741.pdf

¹⁰² New Zealand Infrastructure Commission, Te Waihanga 2024-2025 Annual Report (2025), https://tewaihanga.govt.nz/news-events/2024-to-2025-annual-report-published

¹⁰³ New Zealand Infrastructure Commission, From Plans to Projects: An Assessment of How Central Government Plans, Funds, and Manages Infrastructure.

¹⁰⁴ New Zealand Infrastructure Commission, Transparency within Large Publicly Funded New Zealand Infrastructure Projects (2023), https://tewaihanga.govt.nz/our-work/research-insights/transparency-within-large-publicly-funded-new-zealand-infrastructure-projects

¹⁰⁵New Zealand Infrastructure Commission, From Plans to Projects: An Assessment of How Central Government Plans, Funds, and Manages Infrastructure.

¹⁰⁶ ISO 55001:2024: Asset Management Requirements (2024), https://www.iso.org/standard/83054.html

¹⁰⁷ New Zealand Infrastructure Commission, Asset Management and Investment Planning | Guidance (2025), https://tewaihanga.govt.nz/our-work/project-support/guidance/asset-management-and-investment-planning

¹⁰⁸ ISO 55001.

¹⁰⁹ Grattan Institute, The Rise of Megaprojects: Counting the Costs (2020), https://grattan.edu.au/report/the-rise-of-megaprojects-counting-the-costs/

¹¹⁰ Sense Partners, Infrastructure Costs and Urban Form: A Proof-of-Concept Model (2024), https://www.gw.govt.nz/your-region/news/report-highlights-savings-of-denser-living/

¹¹¹ New Zealand Infrastructure Commission, Buying Time: Toll Roads, Congestion Charges, and Transport Investment.

¹¹² Sapere, The Cost of Consenting Infrastructure Projects in New Zealand. A Report for The New Zealand Infrastructure Commission.

¹¹³ New Zealand Infrastructure Commission, Protecting Land for Infrastructure: How to Make Good Decisions When We Aren't Certain about the Future (2023), https://tewaihanga.govt.nz/our-work/research-insights/protecting-land-for-infrastructure-how-to-make-good-decisions; New Zealand Infrastructure Commission, Paying It Back: An Examination of the Fiscal Returns of Public Infrastructure Investment (2025), https://tewaihanga.govt.nz/our-work/research-insights/paying-it-back-an-examination-of-the-fiscal-returns-of-public-infrastructure-investment; Sense Partners, Infrastructure Costs and Urban Form: A Proof-of-Concept Model.

¹¹⁴ Electricity Networks Aotearoa, 'Traffic Cones Are Increasing the Price of Power'.

¹¹⁵ Road controlling authorities are required to coordinate works under the National Code of Practice for Utility Operators.

¹¹⁶ Charles Jr Marohn, Strong Towns: A Bottom-up Revolution to Rebuild American Prosperity, John Wiley & Sons (2019), https://www.wiley.com/en-us/Strong+Towns%3A+A+Bottom-Up+Revolution+to+Rebuild+American+Prosperity-p-9781119564812

¹¹⁷ New Zealand Infrastructure Commission, Paying It Back.

¹¹⁸ New Zealand Infrastructure Commission, Paying It Back.

¹¹⁹ Infrastructure Victoria, Choosing Victoria's Future: Five Urban Development Scenarios (2023), https://www.infrastructurevictoria.com.au/resources/choosing-victorias-future

¹²⁰ Boston Consulting Group, Energy to Grow: Securing New Zealand's Future (2025), https://www.bcg.com/publications/2025/energy-to-grow-securing-new-zealands-future

¹²¹ Electricity Authority, 'New Generation Projects Flowing through the Investment Pipeline', 2025 https://www.ea.govt.nz/news/eye-on-electricity/new-generation-projects-flowing-through-the-investment-pipeline

¹²² New Zealand Climate Change Commission | He Pou a Rangi, Advice on the Fourth Emissions Budget (2036–2040).

¹²³ Frontier Economics, Review of Electricity Market Performance (2025), https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-consultations-and-reviews/review-of-electricity-market-performance; NERA, NERA Peer Review of Frontier Economics Final Report on New Zealand Market Performance (2025), https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-consultations-and-reviews/review-of-electricity-market-performance

¹²⁴ Ministry of Business, Innovation & Employment, At a Glance: New Zealand's Energy Package (2025), https://www.beehive.govt.nz/sites/default/files/2025-10/At%20a%20Glance%20-%20New%20Zealand%27s%20Energy%20Package.pdf

¹²⁵ Ministry of Business, Innovation & Employment, 'Electricity Demand and Generation Scenarios', accessed 15 December 2025, https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-statistics-and-modelling/energy-modelling/electricitydemand-and-generation-scenarios

¹²⁶ Boston Consulting Group, Climate Change in New Zealand: The Future Is Electric (2022), https://www.bcg.com/publications/2022/climate-change-in-new-zealand

¹²⁷ New Zealand Climate Change Commission | He Pou a Rangi, Advice on the Fourth Emissions Budget (2036–2040).

¹²⁸ Transpower, 'What's the Latest with Grid Connections?', accessed 15 December 2025, https://www.transpower.co.nz/connections/whats-latest-grid-connections

¹²⁹ Ministry of Business, Innovation & Employment,
'Electricity Statistics', accessed 15 December 2025, https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-statistics-and-modelling/energy-statistics/electricity-statistics; Ministry of Business,Innovation & Employment, 'Gas Statistics', 2025, https://www.mbie.govt.nz/building-and-energy/
energy-and-natural-resources/energy-statistics-and-modelling/energy-statistics/gas-statistics

¹³⁰ Frontier Economics Final Report on New Zealand Market Performance (2025),https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-consultations-and-reviews/review-of-electricity-market-performance

¹³¹ New Zealand Green Business Council, Protecting industry, jobs and household budgets as the gas runs out (2025), https://nzgbc.org.nz/news-and-media/new-report-heat-pumps-could-cut-household-energy-bills-by-1.5bn-per-year-help-protect-thousands-of-kiwi-jobs

¹³² Vector, Managing the Gas Transition (2023), https://blob-static.vector.co.nz/blob/vector/media/vector-2024/vector-2023-managing-the-gas-transition.pdf

¹³³ A transition plan could cover scenarios that include supply decline, security of supply, network utilisation, potential repurposing, and recognising some industrial users are reliant on gas, others may be incentivised to switch fuel source.

¹³⁴ Commerce Commission, 'Commission Authorises Gentailers' Application for Strategic Energy Reserve Huntly Firming Option', accessed 15 December 2025, https://www.comcom.govt.nz/news-and-media/news-and-events/2025/commission-authorises-gentailers-application-for-strategic-energy-reserve-huntly-firming-option/; Electricity Authority, 'New Standardised Super-Peak Hedge Product Has Improved Risk Management', Electricity Authority, 2025, https://www.ea.govt.nz/news/eye-on-electricity/new-standardised-super-peak-hedge-product-has-improved-risk-management/

¹³⁵ To include energy sector (electricity and gas) oversight, monitoring, planning, regulation and evaluation of the energy regulators: Gas Industry Company, MBIE's Petroleum, and Minerals Group, the Electricity Authority, and the Commerce Commission (energy regulators).

¹³⁶ New Zealand Infrastructure Commission, Who's Working in Infrastructure? A Baseline Report.

¹³⁷ New Zealand Infrastructure Commission, Who's Working in Infrastructure? A Baseline Report.

¹³⁸ New Zealand Infrastructure Commission, Who's Working in Infrastructure? A Baseline Report.

¹³⁹ BERL, Te Ōhanga The Māori Economy 2023. A Report for Ministry of Business, Innovation and Employment. (2023), https://www.mbie.govt.nz/assets/te-ohanga-maori-2023-report.pdf

¹⁴⁰ New Zealand Infrastructure Commission, Who's Working in Infrastructure? A Baseline Report.

¹⁴¹ New Zealand Infrastructure Commission, Insights for Major Project Delivery (2025), https://tewaihanga.govt.nz/our-work/research-insights/insights-for-major-project-delivery

¹⁴² New Zealand Infrastructure Commission, Insights for Major Project Delivery.

¹⁴³ The New Zealand Treasury, 'Gateway Review Themes and Insights 2016-2022', 1 July 2023, https://www.treasury.govt.nz/information-and-services/public-sector-leadership/investment-management/investment-management-system-reporting/gateway-review-findings

¹⁴⁴ New Zealand Infrastructure Commission, Project Leadership Capability Framework (2025), https://tewaihanga.govt.nz/our-work/leadership-learning/resources-and-tools/leadership-capability-framework-for-project-directors

¹⁴⁵ New Zealand Infrastructure Commission, From Plans to Projects: An Assessment of How Central Government Plans, Funds, and Manages Infrastructure.

¹⁴⁶ New Zealand Government Procurement, New Zealand Government Procurement Business Survey 2024 (2024), https://www.procurement.govt.nz/assets/procurement-property/documents/2024-business-survey-report-government-procurement.pdf

¹⁴⁷ OECD, Ensure Efficient Procurement of Infrastructure Projects (2025), https://infrastructure-toolkit.oecd.org/governance/procurement/

¹⁴⁸ New Zealand Infrastructure Commission, Towards Better Contracts (2024), https://tewaihanga.govt.nz/our-work/research-insights/towards-better-contracts

¹⁴⁹ New Zealand Infrastructure Commission, Delivering Better Value and Better Outcomes (2025), https://tewaihanga.govt.nz/our-work/research-insights/delivering-better-value-and-better-outcomes

¹⁵⁰ NZIER, Cost Impact of Central Government Reforms. A Report for Local Government New Zealand.

¹⁵¹ Department of Internal Affairs, 'Local Government Performance Metrics', 2024, https://www.dia.govt.nz/local-government-performance-metrics

Endnotes for sector summaries 

¹⁵² New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁵³ New Zealand Infrastructure Commission, How much do we pay for infrastructure? Household expenditure on infrastructure services (2023), https://tewaihanga.govt.nz/our-work/research-insights/household-expenditure-on-infrastructure-services

¹⁵⁴ New Zealand Infrastructure Commission, How much do we pay for infrastructure?, https://tewaihanga.govt.nz/our-work/research-insights/household-expenditure-on-infrastructure-services

¹⁵⁵ New Zealand Infrastructure Commission. (2026). Benchmarking our infrastructure: Technical report.

¹⁵⁶ New Zealand Infrastructure Commission. (2025). Transport sector performance. https://tewaihanga.govt.nz/our-work/performance-monitoring/transport-sector-performance

¹⁵⁷ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: Results and modelling technical report.

¹⁵⁸ New Zealand Infrastructure Commission. (2024). Valuing water: Sustainable water services and the role of volumetric charging. p.4.

¹⁵⁹ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁶⁰ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁶¹ New Zealand Infrastructure Commission. (2025). Benchmarking our infrastructure: Technical report.

¹⁶² Water Services Authority (2025). Network Environmental Performance Report 2023/24. Figure 7: Median residential water use by population density.

¹⁶³ New Zealand Infrastructure Commission. (2025). 'Water sector performance', accessed 5 December 2025 https://tewaihanga.govt.nz/our-work/performance-monitoring/water-sector-performance

¹⁶⁴ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast

¹⁶⁵ Electricity Industry Act 2010, Section 8, https://www.legislation.govt.nz/act/public/2010/0116/latest/whole.html; Electricity Industry Participation code 2010, Part 7, https://www.ea.govt.nz/documents/9/Electricity_Industry_Participation_Code_-_01_January_2026.pdf

¹⁶⁶ Transpower, 'Our System Operator Role', accessed 5 December 2025, https://www.transpower.co.nz/system-operator/our-system-operator-role/operating-wholesale-electricity-market

¹⁶⁷ NZX, 'Managed Service - Energy', accessed 5 December 2025, https://www.nzx.com/services/energy-markets/About

¹⁶⁸ Commerce Commission, 'Understanding how changes to lines charges may impact your electricity bill', accessed 28 November 2025,https://www.comcom.govt.nz/regulated-industries/electricity-lines/understanding-how-changes-to-lines-charges-may-impact-your-electricity-bill/

¹⁶⁹ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁷⁰ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁷¹ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁷² New Zealand Infrastructure Commission. (2024). What New Zealanders think is a fair way to pay for infrastructure: Survey insights.

¹⁷³ New Zealand Infrastructure Commission. (2025). Benchmarking our infrastructure: Technical report.

¹⁷⁴ New Zealand Infrastructure Commission, 'Energy sector performance', accessed 28 November 2025, https://tewaihanga.govt.nz/our-work/performance-monitoring/energy-sector-performance

¹⁷⁵ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: results and modelling technical report.

¹⁷⁶New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: results and modelling technical report.

¹⁷⁷ Gas Industry Co, Quarterly Report – June 2025 (2025), https://www.gasindustry.co.nz/assets/CoverDocument/June-2025-Quarterly-Report.pdf.

¹⁷⁸Gas Infrastructure Future Working Group, New Zealand Gas Infrastructure Future Findings Report (2021), https://gasnz.org.nz/resources

¹⁷⁹ Energy Efficiency & Conservation Authority, EECA Consumer Energy Monitor: FY2025 review (2025), https://www.eeca.govt.nz/insights/eeca-insights/how-newzealanders-are-using-energy-july-2025/

¹⁸⁰ Note in October 2022, the Commerce Commission shortened the asset lives used to calculate depreciation, leading to higher rates of depreciation from this point forward. This will impact the renewal expense to depreciation ratio, but the intuition remains that renewals are below the rate needed to replace the asset on a like for like basis.

¹⁸¹ New Zealand Infrastructure Commission, 'Energy sector performance', accessed 5 December 2025, https://tewaihanga.govt.nz/our-work/performance-monitoring/energy-sector-performance

¹⁸² New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: results and modelling technical report.

¹⁸³ Gas production assets are classified by Stats NZ as a mining and extraction or in some cases, a manufacturing industry, rather than infrastructure.

¹⁸⁴ Ministry of Business, Innovation and Employment, 'Gas supply reducing faster and sooner than previously forecast', accessed 28 November 2025, https://www.mbie.govt.nz/about/news/gas-supply-reducing-fasterand-sooner-than-previously-forecast

¹⁸⁵ New Zealand Infrastructure Commission (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁸⁶ New Zealand Infrastructure Commission. (2025). Benchmarking our infrastructure: Technical report.

¹⁸⁷ Radio Spectrum Management, 'Preparing for 5G in New Zealand', accessed 28 November 2025,: https://www.rsm.govt.nz/projects-and-auctions/completed-projects/preparing-for-5g-in-new-zealand#:~:text=of%20auction%2020-,December%202019%20announcement,release%20on%20the%20Beehive%20website.

¹⁸⁸ New Zealand Infrastructure Commission. (2025). 'Telecommunications sector performance'. https://tewaihanga.govt.nz/our-work/performance-monitoring/telecommunications-sector-performance

¹⁸⁹ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: Technical report.

¹⁹⁰ New Zealand Infrastructure Commission. (2021a). Aotearoa 2050: Response summary. https://media.umbraco.io/te-waihanga-30-year-strategy/j2ebahpb/tewaihanga_aotearoa2050_report.pdf

¹⁹¹ New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁹² New Zealand Infrastructure Commission. (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁹³ New Zealand Infrastructure Commission. (2025). Benchmarking our infrastructure: Technical report.

¹⁹⁴ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast: Results and modelling technical report.

¹⁹⁵ New Zealand Infrastructure Commission (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁹⁶ New Zealand Infrastructure Commission (2025). Getting what we need: public agreement and community expectations around infrastructure.

¹⁹⁷ New Zealand Infrastructure Commission (2021). Aotearoa 2050: Response summary. https://media.umbraco.io/te-waihanga-30-yearstrategy/j2ebahpb/tewaihanga_aotearoa2050_report.pdf

¹⁹⁸ New Zealand Infrastructure Commission. (2025). Benchmarking our infrastructure: Technical report.

¹⁹⁹ New Zealand Infrastructure Commission (2025). The Infrastructure Needs Analysis Forecast: Results and modelling technical report.

²⁰⁰ OECD, Government at a glance 2023 country notes – New Zealand (2023), https://www.oecd.org/content/dam/oecd/en/publications/reports/2023/06/government-at-a-glance-2023-country-notes_a95d10b5/newzealand_33a1fc5b/c9e6e96e-en.pdf

²⁰¹ New Zealand Infrastructure Commission. (2025). The Infrastructure Needs Analysis Forecast

²⁰² ISSP Research Group. 'International social survey programme: Role of government V-ISSP 2016'. GESIS data archive, Cologne. ZA6900 Data file Version 2, no. 0 (2018), https://www.gesis.org/en/issp/data-anddocumentation/role-of-government/2016

²⁰³ Noting that Fire and Emergency New Zealand (FENZ) was created in 2017 through the amalgamation of the New Zealand Fire Service and other entities.

²⁰⁴ New Zealand Infrastructure Commission. (2026). Probabilities, Not Predictions: Practical tools for modelling uncertainty and supporting better decisions. (2026)

²⁰⁵ Research New Zealand. (2022). Long-term insights briefing: The future of imprisonment in New Zealand II. Final report. https://www.crownlaw.govt.nz/assets/Uploads/Publications/Long-Term-Insights-Briefing-The-Future-of-Imprisonment-II_FINAL_-12-12-22.pdf

²⁰⁶ Norris, A. N., & Lipsey, K. (2018). Public Attitudes Toward New Prisons in New Zealand and Deficit Narratives: A Quantitative Survey. International Criminal Justice Review, 29(4), 348-360. https://doi.org/10.1177/1057567718803147

²⁰⁷ Department of Corrections, Annual Report 2024-2025 (2025), https://www.corrections.govt.nz/__data/assets/pdf_file/0003/64920/Annual_Report_2024-2025.pdf

²⁰⁸ Department of Corrections, Annual Report 2024-2025

²⁰⁹ Department of Corrections, Annual Report 2024-2025

²¹⁰ ISSP Research Group, Role of Government V, ISSP 2016.

²¹¹ Radio NZ (2025). 'New RNZ-Reid Research poll: Half of Kiwis want defence spending to increase' https://www.rnz.co.nz/news/poll/556896/new-rnz-reid-research-poll-half-of-kiwis-want-defence-spending-to-increase

²¹² Ministry of Transport, 'Freight Information Gathering System', accessed 28 November 2025, www.transport.govt.nz/statistics-and-insights/freight-and-logistics/sheet/figs-port-container-handling

²¹³ World Bank, The Container Port Performance Index 2020 to 2024: Trends and Lessons Learned. (2025) http://hdl.handle.net/10986/43744.

²¹⁴ Port of Tauranga, Ports of Auckland, Lyttelton, Port Otago, Napier Port, CentrePort, and South Port.

²¹⁵ Ipsos & GIIA. (2024). Global Infrastructure Index - New Zealand Edition. https://www.ipsos.com/en-nz/2024-global-infrastructure-index-nz-edition

²¹⁶ Beonic, 'Beonic Strengthens Leadership in New Zealand's Aviation Sector with CAA Partnership' (2025), https://www.beonic.com/beonic-strengthens-leadership-in-new-zealands-aviation-sector-with-caa-partnership.

²¹⁷ Ipsos & GIIA, Global Infrastructure Index - New Zealand Edition. (2024) https://www.ipsos.com/en-nz/2024-global-infrastructure-index-nz-edition

²¹⁸ Ipsos & GIIA. Global Infrastructure Index - New Zealand Edition. https://www.ipsos.com/en-nz/2024-global-infrastructure-index-nz-edition

²¹⁹ WasteMINZ, 'Soil: The hidden giant in construction waste', accessed 28 November 2025, https://www.wasteminz.org.nz/news/soil-the-hidden-giant-in-construction-waste.

²²⁰ New Zealand Infrastructure Commission (2025). Getting what we need: public agreement and community expectations around infrastructure.

²²¹ New Zealand Infrastructure Commission. (2021). Aotearoa 2050: Response summary. AK Research & Consulting. (2023). Behavioural trend monitoring survey of waste minimisation practices: A quantitative report for the Ministry for the Environment. https://environment.govt.nz/assets/publications/Waste/Behavioural-Trend-Monitoring-Survey-2023.pdf

²²² New Zealand Infrastructure Commission. (2021). Aotearoa 2050: Response summary. AK Research & Consulting. (2023). Behavioural trend monitoring survey of waste minimisation practices: A quantitative report for the Ministry for the Environment. https://environment.govt.nz/assets/publications/Waste/Behavioural-Trend-Monitoring-Survey-2023.pdf

²²³ Eunomia, New Zealand's National Recycling Rate: Options and Estimates, Report to the Ministry for the Environment (2025), https://environment.govt.nz/assets/publications/New-Zealand-National-Recycling-Rate-Issues-and-Options-FINAL-30-01-25.pdf

²²⁴ Total depreciation on council-owned solid waste and refuse activities was $29.5 million in 2023. Data from Stats NZ on depreciation rates for 'Water and Waste' services was 3.05%. This implies an asset value of approximately $1 billion.

²²⁵ Te Ara Encyclopedia of New Zealand, 'Government and agriculture', accessed 28 November 2025, https://teara.govt.nz/en/government-and-agriculture/print.

²²⁶ The policy points in this statement were picked up from feedback to the draft National Infrastructure Plan, but are also outlined in Irrigation NZ's Briefing to Incoming Ministers (BIM) in October 2023: https://www.irrigationnz.co.nz/Attachment?Action=Download&Attachment_id=858.

²²⁷ For example, NIWA's IrriSet, irrigation strategy evaluation tool: https://niwa.co.nz/freshwater/farming-and-primary-sector/irriset-irrigation-strategy-evaluation-tool; Watermetrics irrigation management: https://www.watermetrics.co.nz/irrigation-management; and Onfarm Data: https://www.onfarmdata.com/.

²²⁸ Ipsos & GIIA.Global Infrastructure Index - New Zealand Edition. (2024) https://www.ipsos.com/en-nz/2024-global-infrastructure-index-nz-edition

²²⁹ Ipsos & GIIA.Global Infrastructure Index - New Zealand Edition. (2024) https://www.ipsos.com/en-nz/2024-global-infrastructure-index-nz-edition

²³⁰ Horizon Research. (2025). New Zealanders' top priority: Improve the health system. 10 March 2025, https://www.horizonpoll.co.nz/page/713/new-zealand

²³¹ New Zealand Infrastructure Commission. (2021). Aotearoa 2050: Response summary. New Zealand Infrastructure Commission / Te Waihanga. https://media.umbraco.io/te-waihanga-30-yearstrategy/j2ebahpb/tewaihanga_aotearoa2050_report.pdf

²³² OECD Questionnaire on Affordable and Social Housing (QuASH), 2016, 2019, 2021, 2023, and various national agencies

²³³ New Zealand Infrastructure Commission. (2025).The Infrastructure Needs Analysis Forecast: Results and modelling technical report.

²³⁴ Kāinga Ora, Kāinga Ora Reset Plan v1.0 (2024), https://kaingaora.govt.nz/assets/About-us/Kainga-Ora-reset-plan.pdf

²³⁵ New Zealand Treasury, He Puna Hao Pātiki: Investment Statement 2025 (2025), https://www.treasury.govt.nz/sites/default/files/2025-11/is25-hphp.pdf

²³⁶ The Housing Investment Plan allocation of flexible fund' (November 2025) produced by HUD shows housing register rates and
levels of severe housing deprivation vary across territorial authorities and Auckland local boards, https://www.hud.govt.nz/assets/Uploads/Documents/Investment-plan-2025/Housing-investment-plan.pdf

²³⁷ For example, Census 2018 data found that households renting from Housing New Zealand (the former name for Kāinga Ora) were more likely to report issues with dampness and mould. https://www.stats.govt.nz/assets/Uploads/Reports/Housing-in-Aotearoa-2020/Download-data/housing-in-aotearoa-2020.pdf