The Government has promised bigger projects will be built faster and more cost-effectively under their fast-track approval scheme.

This legislation, which would give power to ministers to sign-off consents for major infrastructure projects, has passed its first reading in the House.

Minister for Regional Economic Development Shane Jones says a 'long-term pipeline' of projects will encourage investors.

"We need to build a pipeline of projects, to show both ourselves and people overseas that if you want to invest in New Zealand, there's a long-term pipeline of both private and public sector projects."

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