Budget 2014: Cera to get $50m more over 2 years
Govt now paying $15.4b towards rebuildVERNON SMALL
The Budget earmarks an extra $50 million for the Canterbury Earthquake Recovery Authority over the next two years.
The extra funding takes the Government's commitments to rebuilding Christchurch to $15.4 billion out of an estimated $40b total rebuild cost, Earthquake Recovery Minister Gerry Brownlee said.
Of that, $7.3b comes from the Earthquake Commission, net of reinsurance proceeds.
The Budget also allocates $14m to the Canterbury Social Support Fund and $75m from the Future Investment Fund, which holds the proceeds of the asset sales programme, goes to Canterbury housing development.
Brownlee said the Government was currently paying $9m a day in rebuild invoices.
Horizontal infrastructure - utilities and roads - repairs in the central city are expected to be 90 per cent complete by the end of the year.
"But there is still much to do."
The recovery is one of the Government's four top priorities and Brownlee said no resource was being spared in seeing Christchurch and surrounding areas rebuilt appropriately so they could thrive in the future.
He said the Budget package confirmed commitments of $313.8m in operating funding over four years and $150m in capital funding for land acquisitions in the central business district and for anchor projects.
Should religion be taught in schools?Related story: 'Kitchen work' for no-bible student
• Newsroom 03-943 2827 or email email@example.com
• Classified Ads: 03-3778778 or email firstname.lastname@example.org
• Display and Online Ads: 03-3648285 or email email@example.com
• General inquiries: 03 379 0940
• Subscribe to The Press
• Deliveries, subscriptions, holiday stop/starts: 03 364 8464, or email: firstname.lastname@example.org
• No paper or holiday stop/starts: action online
• Buy a photo
• Newspaper subscribers - register for the digital edition
• Make press.co.nz your homepage
Read Press extras for Avenues, fashion, home design and weddings
Births, weddings, engagements
Death notices and in memoriam