This is how much money the Auckland fuel tax has earnt
Auckland Council has revealed how much the Regional Fuel Tax has raised after its first six months in operation.
The first half-year of the fuel tax has raised $77.7 million, nearly three million less than Auckland Transport predicted but also nearly three million more than rough estimates made before it was implemented.
So far, AT has only spent $39.9m of that, with another $37.8m in reserve.
The tax was projected to generate $1.5 billion over ten years, with revenue slowing as more people buy electric vehicles. The money will fund Auckland transport development, including big projects like Penlink (Whangaparaoa Peninsula link) and the (Redoubt Rd to) Mill Road corridor. This quarter, $2m and $7m went to those projects, respectively, with the Eastern Busway (Panmure to Pakaranga) taking the bulk of the spending; $18m.
Apparently, speeding motorists pitched in for a decent amount of AT’s operating revenue, with around $4m generated.