$400m school property bonanza: What you need to know

The Government has made it very clear it has a pipeline of projects it plans to announce next month. Photo / 123RF

Prime Minister Jacinda Ardern has unveiled a $400 million spending plan to help pay for "much-needed" infrastructure investments in schools across New Zealand.

Here's a brief guide on all you need to know about what's going on.

How much?
The total one-off cash injection is $396 million, or about $700 per student. The amount per school differs depending on the roll; but every school on the list will get at least $50,000 or up to $400,000.

Who gets it?
Almost every school in New Zealand – some 2050 state schools will get a piece of the $400 million pie, provided they were built before 2015.

The full list, and what each school gets:

What will the money be spent on?
Infrastructure. The Government made the money available for schools to bring forward any projects, such as getting a new roof or new classrooms.

When can schools start spending?
As soon as they're ready to go. If schools have projects they want to start, the Government wants them to start as soon as they can. Schools have two years to spend all the money they are allocated.

Where is this $400 million coming from?
It's likely a lot of it will be coming from borrowing. The Government says since interest rates are so low, now is a good time to borrow money to fund infrastructure spending.

Is there more spending to come?
Yes. The Government has made it very clear it has a pipeline of projects it plans to announce next month. But until then, top ministers are saying nothing about where the money is going next.