During the first reading, the Minister for Infrastructure highlighted the funding and financing constraints that councils are facing on a daily basis. Auckland will use 90 percent of its debt capacity over the next decade. Hamilton will use 86 percent over the same period. COVID-19 has exacerbated these debt constraints. With council revenues expected to fall as they grapple with the economic consequences and help their communities with rate deferrals and other support, it has become even more critical to address some of the funding and financing challenges today. By mitigating financing constraints on the infrastructure decision-making process, this bill will assist with the funding and financing of critical infrastructure projects to provide the homes that New Zealanders need much sooner than would otherwise be possible. 