KiwiRail must save for its own next ferries in 2059 to end political funding deadlocks

KiwiRail will be required to build a reserve fund to directly purchase replacement Cook Strait ferries in 2059, Minister for Rail Winston Peters announced at Parliament. The mechanism aims to break the cycle of politically negotiated capital funding that has repeatedly caused deadlock and delay across multiple administrations. Whether the reserve accrues adequately over 30 years on thin freight margins remains the open question.