(Bloomberg) — New Zealand’s government will include 149 projects in a fast-track approvals bill — predominantly in housing, infrastructure, resources and agriculture — in a bid to revive a slowing economy.
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They include 58 in housing and land development, 43 in infrastructure, 22 in renewable energy and 11 in mining, according to a factsheet accompanying a statement from the ministers for infrastructure and regional development released Sunday.
Removing regulatory tape and accelerating approvals in the resources sector to boost economic growth was a key election pledge last year of the National Party, which is now in government.
The legislation is expected to pass before the end of the year.
New Zealand faces another recession after the economy contracted in the second quarter. High interest rates have pushed the manufacturing and service sectors into extended downturns, unemployment is rising and house prices are falling.
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