Finance and Infrastructure Minister Bill English said in his Budget speech that too often, Government assets had been poorly managed and liabilities poorly monitored.
As at June 30, 2009, the Crown balance sheet showed $217 billion of assets and $118 billion of liabilities.
It held around $100 billion of what could be termed social assets, including roads, national parks, state housing, schools and hospitals.
It held around $70 billion of financial assets and more than $50 billion of commercial assets, comprising mainly state-owned enterprises and KiwiRail.
Budget forecasts showed that over the next four years, the value of Government-owned assets was expected to increase by about $32 billion.
"This level of investment demands a high standard of stewardship by the Government," he said.
The Government allocated another $1.45 billion in capital spending in the coming financial year, the second year of a five-year $7.5 billion infrastructure funding plan.
Also, the Government was investing $10.7 billion over the next 10 years in New Zealand's state highway network and $3.3 billion through Transpower in the next five years to upgrade the national grid.
Capital spending outlined in the Budget over the next four years included. -
Broadband: $200 million for the roll out of ultrafast broadband; $48 million more for broadband in schools.
Rail: $500 million for electrification of Auckland rail lines; $250 million for the wider rail network and rolling stock.
Prisons: $337.4 million to lift prison capacity and manage justice sector pressures.
Schools: $177.4 million for new schools and property.
Mr English said the broadband funding, in addition to the $248 million allocated last year, would enable Crown Fibre Holdings to start making contract commitments with the private sector.
