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Strengthening infrastructure investment assurance

PUBLISHED 6 MAY 2026

New Zealand spends a lot on infrastructure, but we’re not always getting value from this investment. Our process for evaluating infrastructure proposals, so that Ministers have the information they need to make informed investment decisions, isn’t working as well as it should.

The Government has recently announced changes to the investment assurance system so that the public sector can effectively plan, deliver, and manage the infrastructure New Zealanders need.

These changes will help to create a simpler and coordinated approach to assessing whether projects are worthwhile and achievable. It will also enable earlier involvement from independent experts, clearer and more consistent advice to Ministers, and stronger oversight of major projects from planning through to delivery.

Cabinet has agreed to five key changes:

  1. Stronger investor-focused assurance: The current Gateway assurance framework will be reconfigured to focus on what Ministers need to make good decisions, while still providing support to Senior Responsible Owners. The new assurance product will consolidate the Infrastructure Commission’s Infrastructure Priorities Programme (IPP) and Gateway – bringing together the best elements of both. This will apply from 1 November 2026.
  2. Clearer advice to Ministers: For Business Cases seeking Cabinet approval or endorsement, the Treasury is introducing a standardised two-page ‘Fitness Assessment’ to provide consolidated advice to Ministers and Cabinet committees. This assessment will play a strategic role in putting the investment decision in the context of agency’s past performance and the fiscal landscape. The Treasury has commenced a phased implementation of the Fitness Assessment this month. A copy of the early Fitness Assessment template is available in Annex C of the proactively released documents available on the Treasury’s website. Please note that the information in the Fitness Assessment may change as Treasury implements these and action feedback from Ministers.
  3. Greater Ministerial oversight of High-Profile High-Risk (HPHR) investments: The Infrastructure and Investment Ministers Group (IIMG) will review HPHR investments and long-term investment plans before they go to Cabinet and Cabinet committees and will monitor performance of HPHR investments during delivery.
  4. Better use of specialist expertise: The responsibility for coordinating the delivery of the new external assurance process and product for infrastructure investments will be transferred from the Treasury to the Infrastructure Commission. This shift will leverage the Infrastructure Commission’s expertise and independence. Treasury will continue to coordinate the delivery of the new external assurance process and product for other investment types (for example, specialist equipment, data and digital, and organisational change). These changes will take effect from 1 November 2026.
  5. New assurance function for asset management and investment plans: A dedicated assurance function will be established for capital-intensive agencies covering asset management and investment planning to ensure agencies are effectively managing assets and prioritising maintenance and renewals. The Infrastructure Commission will be responsible for coordinating infrastructure assurance and the Treasury will lead policy.

These changes respond to recommendations 7, 8 and 9 in the National Infrastructure Plan.

Treasury have released the Cabinet paper and associated advice on its website.

The Treasury and the Infrastructure Commission are working closely to implement these changes over the next six months.

What this means for the New Zealand Infrastructure Commission

The Commission will manage the assurance process for major infrastructure investments, providing independent expert advice based on its system-wide perspective. The transfer of these responsibilities from the Treasury is expected to happen by 1 November 2026.

The Commission will also take on new responsibilities to provide assurance on asset management and investment planning practices for capital-intensive agencies and other intities. A timeline for establishing these functions is still being developed.

The Treasury will continue to manage system and policy settings for both of these functions.

What this means for the IPP

The IPP will be paused after Round Three is completed to focus on the new assurance processes. Lessons learned through the first three rounds of the IPP will be used to inform the new system. The Commission’s immediate focus will be on developing new assurance processes for government investments, once that is successfully achieved, we will consider whether a similar approach could be open to infrastructure projects outside central government.

Further information about these changes will become available as the process is developed.