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The government is continuing its investment in rebuilding New Zealand's transport infrastructure in Budget 2008.
The recent $665 million buy-back of the rail and ferry network from Toll Holdings forms a major part of the commitment and will see the services return to public hands on June 30.
The government will get back 180 trains and over 4000 wagons, along with one of the Interisland ferries and leases for two others. It will also be responsible for over 2000 rail and ferry workers.
Labour bought back the tracks in 2003.
"Rail will be a central part of building a truly sustainable and highly efficient transport sector in New Zealand," Finance Minister Michael Cullen says.
"With rail back in New Zealand hands we can invest in a rail system that delivers for the economy and our communities, especially in provincial New Zealand."
Cullen and Transport Minister Annette King say the government is funding the largest ever investment in New Zealand's road network and has increased public transport funding by almost 1100% since 1999.
"Building up the public transport capability benefits not only the travelling public but also assists other objectives such as helping New Zealand meet its commitments to reduce the effects of global climate change and to improve New Zealand's competitive position as a trading nation," the ministers say.
The regions have not missed out in the transport funding, with capital funding of $33.5 million over a four year period dedicated to Canterbury's transport project - a collaborative planning partnership initiative between all Canterbury local authorities and Transit New Zealand.
Initiatives in Northland and Tairawhiti have also received funding.
New Budget funding will strengthen transport regulatory agencies with support for the Civil Aviation Authority ($2 million) and the Transport Accident Investigation Commission ($4.8 million).
