An additional $50 million in funding has been allocated for
the Canterbury Earthquake recovery in the Budget.
In his Budget speech, Finance Minister Bill English said of
the estimated $40 billion cost of the Canterbury rebuild, the
Government had now allocated $15.4 billion.
The funding boost will be allocated over the next two years
through the Canterbury Earthquake Recovery Authority (CERA).
The funding boost was needed to meet updated core Crown costs
associated with the Greater Christchurch Education Renewal
Programme, housing projects and the new Canterbury hospitals.
The Government was paying an estimated $9 million every
working day in rebuild invoices, Mr English said.
To date, 53,000 home repairs had been completed by the EQC
and infrastructure repairs in the central city were on track
to be 90 per cent completed by the end of the year, he said.
The Government's $1 billion education renewal programme was
also on track to deliver new and rebuild classrooms across
the city, Mr English said.
Earthquake Recovery Minister Gerry Brownlee said recovering
from the Canterbury earthquakes was one of the Government's
four priorities for this term, and no resource was being
spared to ensure Canterbury would be appropriately rebuilt.
"The additional funding for CERA, in addition to the $19.5
million funded from contingencies established in Budget 2013,
will ensure it can deliver on its key priorities.
"In the residential red zone, 8062 property owners have been
given the certainty required to move from severely damaged or
dangerous land and make a new start for their families.
"Over half those red-zoned properties have now been cleared,
with all demolitions on the flat land scheduled to be
completed by the end of this year.
"Budget 2014 also confirms funding for settlement with
residential red zone property owners, clearances, site
management and consideration of how the area will be used in
"This package confirms multi-year commitments of $313.8
million operating funding over the next four years and $150
million in capital funding to continue land acquisitions in
the CBD and to deliver the anchor projects outlined in the
Christchurch central-city recovery plan.''
- by Brendan Manning of APNZ
Support for Christchurch:
* $50 million over two years to support the work of the
Canterbury Earthquake Recovery Authority.
* $14 million extra for the Canterbury Social Support
* $75 million from the Future Investment Fund for Canterbury
Net earthquake-related expenses:
* $7.8 billion - EQC and other Crown entities
* $2 billion - Crown assets
* $1.8 billion - Local infrastructure
* $1 billion - Land zoning
* $1 billion - Christchurch central rebuild
* $1.7 billion - other