Budget '07: Regional petrol tax for Auckland, Wellington
4:25PM Thursday May 17, 2007

Finance Minister Michael Cullen today confirmed motorists in Auckland and Wellington are likely to face a regional petrol tax.

Delivering his eighth budget in Parliament this afternoon, Dr Cullen said a 10c a litre charge would allow both cities to put new transport projects in place more quickly.

These included rail electrification and the Western Ring Route in Auckland, and Transmission Gully in Wellington.

Key points:
* Regional fuel tax to pay for transport upgrades
* $600m over 6 years for urban rail
* Tax credits of up to $40 a week for Kiwisavers
* Business tax cut from 33 per cent to 30 per cent
* Extra funding for tertiary education
* Stricter auditing of property speculators
* $2m to prevent violence in Maori whanau and communities

More here .

And Cullen’s cashback for savers .

All the main points .