Financial Flaws Exposed

Two major blows against Kāpiti Expressway

Wellington.Scoop reports this week have highlighted  huge financial flaws in the Kāpiti Expressway plans.

Scoop ( wellington.scoop.co.nz) says the Tuesday night Campbell Live show revealed that the finances of the Expressway ‘do not stack up.’

The Campbell Show reported that the cost of the project has risen by $80m, and as a result the benefit to cost ratio has fallen into a negative position. The road will cost more than any gains that can be expected over the next thirty years!

A report leaked from the NZ Transport Agency showed that the four-lane expressway from Mackays Crossing to Peka Peka will cost five times its economic benefits.

Kāpiti Campaigner Bianca Begovich says the NZ Transport Agency has been manipulating the figures and withholding the facts.

“The Transport ministry says that the report is based on old information, but that doesn’t negate the fact that the report exists, or that they have never released the information despite several OIA requests to provide it.

Call from Labour

Scoop also headlines a new call from the Labour Party’Labour to the Government to pull the plug on the Mackays to Peka Peka section of the Expressway.

Labour’s transport spokesperson, Phil Twyford, says the motorway project, which is currently before a Board of Inquiry, should be cancelled because the numbers simply don’t add up.

He says: “A leaked report by engineering consultants Beca shows the half a billion dollar motorway project has a benefit-cost ratio (BCR) of 0.2, which falls a long way short of break even at 1.0.

“It also reveals that a $515 million investment will generate a return of only $118 million over a 30-year period.

“Spending this much money on what Beca describes as a ‘relatively uncongested part of the road network’ would be an economic and environmental crime.”

For these and other Scoop stories — http://wellington.scoop.co.nz/

View the complete Campbell Live report here

 

The water recharge / meters will be next, these idiots are so clever they forget to tie their shoe laces up and trip over down the track, after blowing thousands and thousands of rate payers money.
The whole democratic farce is becoming ridiculous.
I think it was second grade we got taught cause and effect.

Many of us have repeatedly been saying this for a long time.
How much did it cost us the ratepayers to get this quantified ?!
again.
How do these eggs keep getting employed ?!