More cash for Christchurch's post-quake recovery

Gerry Brownlee
Gerry Brownlee
The Government has boosted funding for Christchurch's post-quake recovery by another $27 million in today's Budget.

A total of $107.8 million has been put aside over the next four years, taking the Government's contribution to the rebuild of the city to $16.5 billion since 2010.

"This new operating funding will support land clearances to make way for Anchor Projects, preparation of land before these constructions begin and ensure the planned recovery work is implemented over the next four years," Canterbury Earthquake Recovery Minister Gerry Brownlee said in a statement.

Of the new money, $10 million was designated for the removal of buildings that sit on land set aside for the Anchor Projects in the central city, which include a new shopping precinct, recreational facilities and a memorial.

The minister said four years on since the first earthquake, the recovery was progressing well. But recovery work will need to continue even after special earthquake legislation expired, Mr Brownlee said.

"With the Canterbury Earthquake Recovery Act expiring next April we will need to transition to a new structure for continuation of recovery work, and soon we will have a better idea of what that will look like.

"This Budget enables recovery to progress with certainty."

The new funding would also cover the operational costs of owning and developing assets purchased by the Crown as part of Christchurch's redevelopment, and the costs of preparing these assets for future sale.

Between 2011 and 2014, Government spent $12.3 billion on Christchurch's recovery.

SInce then, around $1 billion has been spent each year. From 2018, this would fall to $365 million. In all, Government will have contributed more than $16 billion by 2019.

The total cost of the earthquakes to Christchurch is estimated at around $40 billion.

 

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