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Schools, Kiwirail, hospitals to gain from partial asset sales

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Schools, Kiwirail, hospitals to gain from partial asset sales

By: Katie Bradford | Latest Political News | Thursday May 24 2012 16:04

 

The money gained from the partial sale of the four state owned energy companies is to go into school buildings, KiwiRail, hospital redevelopments and a new Advanced Technology Institute.

Finance minister Bill English says there'll be no new capital spending in the next four years and any money will have to come out of the asset sales.

Mr English says establishing the Future Investment Fund will see the share sale proceeds invested in a way will result in valuable assets for everyone.

"First $34 million of one billion earmarked for schools, $88 million for the health sector, $250 million more for Kiwirail's four and a half billion turnaround plan and $76 million for the Advanced Technology Institute's capital requirements."

 

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