NY boosts infra spend

New York Governor Andrew Cuomo has agreed a budget with the state's legislature that will see capital investment increased.

Cuomo has already been driving increased investment in infrastructure and the state is also looking to develop the major Gateway Program, which is expected to use a P3 structure.

In the latest budget, Cuomo said investment would be increased from its current level of $100bn to $150bn.

“We're in the midst of the most aggressive infrastructure program in the United States of America at $100bn, rebuilding projects all across the state and actually getting it done,” he said, describing it as “nation-leading infrastructure investment”.

Also included in the new budget is a plan to introduce congestion-charging for New York City – a move that has proved successful in London in the UK, Singapore and in Stockholm, Sweden. That new toll represents part of Cuomo's efforts to reform the New York Metropolitan Transport Authority (MTA).

“I laid out 12 essential management reforms in my first presentation,” said Cuomo. “This budget incorporates all 12 of those management reforms.”

The congestion-charging plan will provide a revenue source to fund the newly constituted MTA.