The New Zealand Government sees transport policy as fundamental to fulfilling its broader social, economic and environmental goals. In recent years, this has led to profound changes in the policy and funding framework for New Zealand's land transport. A key development has been the shift of focus from economic efficiency of individual projects to a broader approach in which economic assessment is supported by wider qualitative and quantitative environmental, health and safety assessments. Where New Zealand was previously positioned well towards the 'mechanistic' end of the funding allocation spectrum, it has now moved into closer alignment with the international trend towards using a strategic, multi-criteria approach. The paper has four parts: the impact of the new legislative framework on Transfund's functions, roles, polices and processes; the funding allocation process for 2004/05 and beyond; how the funding process compares with international practice; the contribution of monitoring in achieving land transport policy objectives. (Author/publisher) For the covering entry of this conference, please see ITRD abstract no. E211825.
Samenvatting