Labour floats $900m cost for new ferries

A render of one of the rail-enabled ferries KiwiRail contracted to buy for the Cook Strait service. (Image: KiwiRail)

Tue, 10 Dec 2024

The replacement plan for two new Interislander ferries could cost $900 million, Labour has suggested, although the Government is staying tight-lipped ahead of an announcement this week.Labour’s finance spokeswoman, Barbara Edmonds, asked Finance Minister Nicola Willis in the House on Tuesday if she had set aside $900m for two non-rail enabled ferries that would be smaller than the 220m ferries ordered under the cancelled Interislander replacement project (iReX).“Mr Speaker, I do not believe it is in the public interest to answer tha...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZX 50 stumbles as Ebos losses mount

The NZX 50 has erased Monday's gains.

Gregor Thompson 5:53pm

Du Val

Du Val investor Karl Lindeman dies in car crash

He was the lead litigant in an action brought by DVPG shareholders.

Garth Bray 5:30pm

Du Val investor Karl Lindeman dies in car crash

Markets

Most Asian markets rise on US rate hopes

Investors are awaiting the release of fresh data on prices this week.

AFP 3:18pm

Most Asian markets rise on US rate hopes

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

Sponsored

Are employers doing enough to prepare workers to retire well?

When one third of the New Zealand workforce is aged 55 or older – are employers doing enough to help them prepare for retirement?

Moneyfit

More Infrastructure

Infrastructure

Transpower to spend $1.1b on Cook Strait link upgrade

Transpower plans to spend $1.1 billion on upgrading the electricity link between the North and South Islands.The state-owned power grid operator said it had applied to the Commerce Commission for approval to invest in the High Voltage Direct Current (HVDC) link.The proposal inclu...

Staff reporters 4:00pm