Aucklands eastern highway will need 250m a year
The eastern highway project will need a $250 million annual subsidy - but Auckland mayors have been told not to expect any Government favours to fund the $4 billion motorway. The subsidy figure is revealed in a report by international consultants Deloittes which shows that tolls would pay only a fraction of the cost of the 27km highway. This shortfall, the report indicates, would need to be met by an additional annual subsidy of $250 million from the public purse. "The total Eastern Transport Corridor project," says Deloittes "is unlikely to be financially feasible as a privately financed toll-funded project. ... "This does not include funding for the eastern highway, which is not part of Transits 10-year plans. ... Eastern corridor political steering group chairman Greg McKeown conceded funding was a crucial issue.