Simon Bridges National MP simonbridges.co.nz

In the last couple of weeks Parliament has restarted for the year.

We've elected a new Speaker, the Rt Hon David Carter, former Minister of Primary Industries, and there has been a Cabinet reshuffle. Through this, I have become a Cabinet Minister, responsible for the portfolios of Labour and Energy and Resources.

In the labour area, strengthening our health and safety regime will be a big part of the job. The Pike River Royal Commission made it clear that improvements are required. In energy and resources one significant focus will be developing our country's oil, gas and minerals resources while also looking after our environment.

National is committed to lifting long-term growth in our rural economy. We want to ensure that New Zealand farmers and rural businesses stay at the top of the global game. This is a key element in our plan to build a more competitive and productive economy.

Last year the Business Growth Agenda set a target of raising the value of exports to the economy from 30 to 40 per cent of GDP by 2025. Our primary sector is an important contributor to export earnings, accounting for 72 per cent of merchandise exports, and access to reliable water is critical for primary production.

Just prior to becoming Speaker of Parliament, David Carter announced that the Government is establishing a company to act as a bridging investor for regional water infrastructure development and we'll invest up to $400 million in regional-scale schemes to encourage third-party capital investment.

Further, David made it clear that the Government has earmarked $80 million for the initial stages of the company's operation.

The water infrastructure development fund will help get regional water storage and distribution schemes started. It's about farming smarter. A well-designed storage and irrigation infrastructure will support new job opportunities, a clear focus for the Government, which will have a flow-on effect for all New Zealanders.

It will also be better for the environment, as these schemes will lead to more efficient water use, and can provide for the replenishment of aquifers and the restoration of stream and river flows.

The opportunity to take a stake in developing regional-scale water infrastructure is new for private investors, and that's why it's appropriate for the Government to take a bridging investment role to ensure the right projects can get underway.

Reliable irrigation represents a major step in unlocking economic potential for New Zealand, having our tradable sectors growing strongly and delivering on the Government's economic growth goals.