New Zealand government transport plans for the next 10 years include a $36 billion investment in road, a $4.6 billion investment in rail, and an intention to seek improved returns from previous investments and existing services.

If someone came up with the cash, Transport Minister Steve Joyce is open for discussion on a future sale of KiwiRail.

The somewhat tongue-in-cheek comment is an acknowledgement the government is the proud owner of a $331 million white elephant – the figure represents the downgraded value of the asset bought by the previous government for $690 million, plus ongoing concessions to previous owner Toll.

Finance Minister Bill English has been heard to label KiwiRail as “worthless.”