Nick Leggett: Infrastructure New Zealand Chief Executive on the reasons building infrastructure in New Zealand is so expensive

Several factors may contribute to New Zealand being the most expensive country in the world to build infrastructure.  Some projects cost four to five times as much to complete here as they do in Europe.  City Rail Link Chief Executive Sean Sweeney says the industry has suffered a market failure.  Infrastructure New Zealand Chief Executive Nick Leggett told Mike Hosking that it's partly due to our geography, partly due to slow consenting, and partly due to the ability of officials to negotiate.  He says they try and screw down the market because they think they can get out of the risk, but the market then prices the risk into the contract and things get more expensive.  LISTEN ABOVE See omnystudio.com/listener for privacy information.