Has the Minister received any advice about the impact of a proposed rates cap on the Regional Infrastructure Fund; if so, what are all the potential impacts the advice canvassed and on what date did he receive this advice?

Answer

Officials have provided advice on each local authorities’ financial position and ability to contribute co-funding towards infrastructure projects through delivery of the Regional Infrastructure Fund (RIF) programme since 2024, in support of the Government’s RIF investment decisions on co-investment opportunities alongside local authorities. Officials have not been made aware by local authorities of any concerns that are expected to materially affect their ability to contribute co-funding. The RIF is a Budget 2024 initiative appropriated until June 2027, and is approaching full allocation. As the proposed rates cap has not yet been implemented, how each council will manage implementation is unknown.