A new research report from engineering firm WSP and the Helen Clark Foundation claims more Government agencies need to factor cost-benefit analysis in planning their projects.

The report, Measuring what Matters, found hat despite billions of dollars being spent on infrastructure each year, New Zealand lacks a mandatory, system-wide requirement for demonstrating value for money across investment decisions.

Taxpayers' Union spokesperson Tory Relf says it's 'ludicrous' that there aren't clear standards in place. 

"They know how to do this, they know whether a project is going to be value for money for taxpayers - and yet, they're not using it." 

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