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Showing 151 to 200 of 457 written question sets.

Answered

Question 36289 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    How many freight train movements, if any, are scheduled south of Wiri station during weekday morning and evening peak periods under the City Rail Link timetable published by Auckland Transport?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

We understand the concern is around one freight train into south Auckland and one out of south Auckland in the evening weekday high peak.

Answered

Question 36290 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What role, if any, did he or his office have in the negotiation or agreement of the peak-period freight slots on the Auckland metro rail network referred to publicly by KiwiRail's chief executive in August 2026?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

A leadership role, as befits the Minister for Rail.

Answered

Question 36291 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What correspondence, if any, has he received from the Mayor of Auckland concerning freight trains operating at peak commuter times on the Auckland metro rail network?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Polite and helpful correspondence, as always.

Answered

Question 36292 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What meetings, if any, has he held with KiwiRail since 1 January 2026 concerning the scheduling of freight services on the Auckland metro rail network during peak passenger periods?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

KiwiRail, Auckland Transport and Waikato Regional Council staff meet on a regular basis, as members of the Timetable Committee, to update Auckland’s train timetable – including developing the timetable for CRL Day-1. We are not aware of…

Answered

Question 36293 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Who advised him, and on what date, that the need to move freight trains south of Wiri station would result in uneven headways for passenger services on the Auckland metro rail network?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

As noted in answers to other replies, there is no record of when this type of detail was passed on. It has been a live issue for some time as part of the overall City Rail Link launch day and ramp up timetabling.

Answered

Question 36294 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    When was he first informed that passenger services between Pukekohe and the city centre would have uneven headways during weekday morning and evening peaks once the City Rail Link opens?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

As noted in answers to other replies, there is no record of when this type of detail was passed on. It has been a live issue for some time as part of the overall City Rail Link launch day and ramp up timetabling.

Answered

Question 36295 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What advice, if any, has he received on the City Rail Link timetable published by Auckland Transport for the opening of the City Rail Link on 13 September 2026?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

KiwiRail has provided us with updates on the City Rail Link operations but we do not have responsibility for advice we receive that has been published by Auckland Transport.

Answered

Question 35959 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What aides-mémoire, briefings, memos, notes, reports, or any other advice, if any, has the Minister or their Office received during the week beginning 3 August 2026, listed by agency, title and date received?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings, FHL SOI 5 March 2025 - 30 December 2029 revised draft, 3 August; Ferry Holdings, FHL SOI 5 March 2025 - 30 Dec 2029 revised, 6 August 2026; KiwiRail, Rail Safety Week 2026 Media Release, 7 August; KiwiRail, Rail Safety Week…

Answered

Question 36026 (2026)

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Asked by

Teanau Tuiono

List MP · Green Party

Question

  • (matches this search)

    What correspondence, if any, including letters, emails, text messages, WhatsApp messages, Signal messages, or any other form of written or electronic communication, has the Minister or any member of the Minister’s office sent or received…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

As Minister for Rail, we have no responsibility for statements made in a general debate, so none. The Minister for Rail was pleased to hear the Minister of Foreign Affairs say on 5 August 2026 that he “stand[s] by our decision to approve…

Answered

Question 35558 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What papers, if any, did the Minister take to Cabinet during the week beginning 3 August 2026, by title and date?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Refer to the response to WPQ 6251 (2025).

Answered

Question 35712 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Does Ferry Holdings maintain a register of directors' interests, if so, are any entries contained relating to Greg Lowe's former roles as group chief executive of Beca and managing director of Beca Australia?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings has assured us that a register of directors' interest is maintained and that Mr Lowe has consistently declared a conflict in relation to Beca. This has been managed by Mr Lowe recusing himself from all discussions and…

Answered

Question 35713 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Has he been advised of any conflict of interest arising from Ferry Holdings director Greg Lowe's former roles as group chief executive of Beca and managing director of Beca Australia?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Yes. Mr Lowe was appointed in 2025 following a verification process managed by The Treasury. Mr Lowe's experience as a qualified marine engineer and as the former global head of Beca were known to Ministers as assessing a curriculum vitae…

Answered

Question 35477 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What is Ferry Holdings Limited's total forecast operating cost to 2029, and how much of the $1,704 million funding envelope remains uncommitted?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings has been approved to deliver a programme within $1.704 billion, of which approximately 20% is contingency. Ferry Holdings operational costs for the period from establishment to 2029 are forecast to be $90 million. These are…

Answered

Question 35478 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    By what date are Port Marlborough and CentrePort required to make their respective $110 million and $100 million contributions to the portside infrastructure programme?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

The ports will incur costs across the life of the programme. The member is mistaken if he thinks they are putting cash in for Ferry Holdings. They are building assets within their $110 million and $100 million budgets respectively and will…

Answered

Question 35479 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What are the respective roles of Beca Ltd and North Projects Ltd in cost estimation and cost review for Ferry Holdings' programme, and why are both required?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

We have been advised that Beca have provided technical and specialist engineering resources on an ongoing basis since they were engaged as the technical advisor to Ferry Holdings Limited. While North Projects are a separate entity who were…

Answered

Question 35231 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    On what dates since 1 January 2026 has he or his office been briefed, orally or in writing, on cost pressures in the ferry replacement programme, if at all?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Since 1 January 2026, not a day has gone by that we have not considered the inexplicable cost pressures in the ferry replacement programme under Project iReX.

Answered

Question 35232 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    How many items of correspondence concerning project costs or budget pressures, if any, have been exchanged between his office and Ferry Holdings Limited since 1 January 2026?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

All items of correspondence between Ferry Holdings and the Minister for Rail's office ultimately concern project costs and budget pressures as Ferry Holdings was established to manage project costs and budget pressures. Where possible,…

Answered

Question 35233 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Has any procurement probity auditor engaged by Ferry Holdings raised concerns about any procurement; if so, what were they and how were they resolved?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

No.

Answered

Question 35234 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Has he received any advice from Treasury on Ferry Holdings' compliance with the Government Procurement Rules; if so, on what dates?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Yes, Treasury advice regarding Ferry Holdings received on the following dates referred to the Government Procurement Rules: 6 November 2025, 1 July 2026.

Answered

Question 35235 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Did any procurement decisions relating to the ferry replacement programme not comply with government procurement rules ; if so, which decisions?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

We understand Ferry Holdings proactively commenced a review into its procurement practices in May 2026, and this is ongoing. We will be updated in due course.

Answered

Question 35236 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What exemptions from the Government Procurement Rules has Ferry Holdings relied on since establishment, if any, and on what grounds in each case?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings has followed the Government Procurement Rules including taking decisions for exemptions where a fair basis has been established. The specific detail of each exemption is not information held by a shareholding Minister and…

Answered

Question 35237 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Is Ferry Holdings Limited a mandated agency for the purposes of the Government Procurement Rules; if so, how many opportunities has it advertised and how many contract award notices has it published on GETS?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Yes. Contact award notices and opportunities published on GETS can be found here: https://www.gets.govt.nz/

Answered

Question 35238 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Did Greg Lowe participate in any board discussion, decision or resolution relating to Ferry Holdings' engagement of Beca Ltd?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

No. Mr Lowe has rescued himself from Board discussions and decisions on the contract matters you refer to, as he has done on all board consideration of matters regarding Beca.

Answered

Question 35239 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What was the original value of Beca Ltd's engagement with Ferry Holdings at the time it was entered into, and how many times has it been varied or increased since?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

The original contract was for $950,000 and has been varied three times since.

Answered

Question 35240 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Was Beca Ltd's engagement with Ferry Holdings openly advertised, closed tender, or directly appointed?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

A closed tender procurement process was undertaken.

Answered

Question 35241 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    How much has Ferry Holdings Limited paid or committed to Beca Ltd, and for what services?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Beca has a total contract value of $3,401,000 for specialist techincal advice.

Answered

Question 35242 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    How much has Ferry Holdings spent on recruitment agencies and labour hire since 5 March 2025?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Please refer to the attached table.

Answered

Question 35243 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    How many separate contractor, consultant, professional services or legal providers has Ferry Holdings engaged since 5 March 2025?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Attached is a table providing these details. For legal costs please refer to page 12 of FHL’s SPE: https://www.ferryholdings.co.nz/wp-content/uploads/2026/07/SPE2627-003.pdf

Answered

Question 35244 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What was Ferry Holdings' budgeted consultant expenditure for 2025/26, and what was actual expenditure?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Budgeted and actual expenditure will be made available in Ferry Holdings' annual report.

Answered

Question 35245 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What is the total amount Ferry Holdings Limited has paid or committed to contractors, consultants, professional services and legal advisers since its establishment on 5 March 2025?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Refer to the ressponse to WPQ 35243 (2026).

Answered

Question 34495 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What aides-mémoire, briefings, memos, notes, reports, or any other advice, if any, has the Minister or their Office received during the week beginning 27 July 2026, listed by agency, title and date received?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

KiwiRail Holdings Limited, Briefing - FY2028 Metro Overdue Renewals Funding Allocation, 30 July 2026 Ferry Holdings Limited, FHL Quarterly Report: April - June 2026, 31 July 2026

Answered

Question 34600 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What papers, if any, did the Minister take to Cabinet during the week beginning 27 July 2026, by title and date?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Refer to the response to WPQ 6251 (2025).

Answered

Question 34810 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    What public engagement surveys, if any, are planned or currently underway regarding the use of artificial intelligence in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Zero

Answered

Question 34812 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

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    How much, if any, is budgeted to be spent in the 2026/27 financial year in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any, on consultants who advise on public sector…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Zero

Answered

Question 34814 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    How much, if any, has been spent in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any, on consultants who advise on public sector reform management or similar, since 27…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Zero

Answered

Question 34149 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    What procurement process, if any, was used for purchasing artificial intelligence tools, if any, currently being used within the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This is not information held by a shareholding Minister. This question could be asked of KiwiRail and Ferry Holdings directly as operationally independent entities.

Answered

Question 34150 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    What public engagement surveys, if any, have been completed regarding the use of artificial intelligence in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any, since 27…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This is not information held by a shareholding Minister. This question could be asked of KiwiRail and Ferry Holdings directly as operationally independent entities.

Answered

Question 34153 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    What automated approvals, if any, are currently operating within the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This is not information held by a shareholding Minister. This question could be asked of KiwiRail and Ferry Holdings directly as operationally independent entities.

Answered

Question 34164 (2026)

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Asked by

Francisco Hernandez

List MP · Green Party

Question

  • (matches this search)

    What algorithm impact assessments, if any, have been done in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any, since 27 November 2023?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This is not information held by a shareholding Minister. This question could be asked of KiwiRail and Ferry Holdings directly as operationally independent entities.

Answered

Question 33676 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Will Ferry Holdings Limited table revised prospective financial statements following shareholding Ministers' decisions of July 2026, as contemplated in its Statement of Performance Expectations 2026/27, and if so when?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Yes. The Statement of Performance Expectations for 2026/27 has been available on the Ferry Holdings website since 24 July 2026.

Answered

Question 33677 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What performance measures, if any, in Ferry Holdings Limited's Statement of Performance Expectations 2026/27 relate to delivering the Cook Strait Ferry Replacement Programme within the $1.7 billion funding envelope or to any cost or budget…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings is a delivery entity charged with procuring ferries and enabling infrastructure within an appropriated total of $1.704 billion. The performance measure is established by an appropriation limit of $1.704 billion.

Answered

Question 33678 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Has Ferry Holdings Limited applied for classification as a public purpose Crown-controlled company under section CW38B of the Income Tax Act 2007, and what is the income tax liability if that application is unsuccessful?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Yes, and the application has been approved. As noted in the Statement of Performance Expectations, “As a result, no provision for income tax has been recognised in these prospective financial statements.”

Answered

Question 33679 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What insurance, if any, does Ferry Holdings Limited hold in respect of the ships under construction and the port infrastructure works, and what is the annual premium?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

None. The fixed price ship contract, approved infrastructure scope, and contingencies are all within the $1.704 billion appropriation for Ferry Holdings Limited costs. Ferry Holdings Limited does not hold any insurance for ships…

Answered

Question 33680 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What are the top five risks recorded on the Cook Strait Ferry Replacement Programme risk register as at 24 July 2026, and what is the assessed cost impact of each?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This information is not disclosed. However, standard infrastructure risks apply and approximately 20% contingency is built into the programme which is funded to the relatively high P85 level.

Answered

Question 33681 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What Gateway reviews of the Cook Strait Ferry Replacement Programme have been completed since April 2025, what delivery confidence assessment rating was assigned by each, and will those reviews be proactively released?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

A Targeted Investment Review was completed in September 2025 and the first Gateway review was completed in June 2026 as part of the assurance processes leading to Ministers’ approval decisions in July 2026. Two Gateway Reviews found the…

Answered

Question 33682 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What assurance does the Government have that principal repayments on Ferry Holdings Limited's concessionary loans will commence from 1 July 2028 as assumed, and what is the consequence for the programme if they do not?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

The Statement of Performance Expectations makes the assurance point quite clear: “Term: Up to 2.5 years, with principal repayments due 1 July 2028.”

Answered

Question 33683 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What is the estimated cost to the programme of every one cent movement in the New Zealand dollar against the United States dollar below the weighted average contract rate of 0.5870 disclosed by Ferry Holdings Limited?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Actually, Ferry Holdings disclosed a weighted average contract rate of 0.5874. The words “weighted average” should provide the member with a strong hint that Ferry Holdings has a range to anticipate exchange rate fluctuation scenarios.…

Answered

Question 33684 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    Which entities are the counterparties to the concessionary loans forecast to total $68 million advanced by Ferry Holdings Limited at 0 percent interest against an assumed market rate of 5.75 percent, and what security, if any, does the…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

To the extent that such information can be released, Ferry Holdings Limited has done so in section “l)” of its Statement of Performance Expectations.

Answered

Question 33685 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What is the total value in New Zealand dollars of the Cook Strait ferry build contracts denominated in United States dollars, and what proportion of that exposure is covered by the forward foreign exchange contracts with a notional amount…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

This information has not been disclosed.

Answered

Question 33686 (2026)

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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • (matches this search)

    What is the basis for Ferry Holdings Limited capitalising $12.869 million of operating costs to 30 June 2026 and a forecast $12.446 million in 2026/27 as construction in progress rather than expensing them, and what would the reported…

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

Ferry Holdings Limited is a delivery entity for capital assets that will garner a return. These assets are not generated by magic, but instead by works that attract a cost and can be capitalised. This is quite standard for asset-generating…