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Budget Policy Statement 2012

4 Rebuilding Christchurch, our second-biggest city

Our fourth priority is to get on with rebuilding Christchurch and its surrounds. In 2011, the main priority was addressing the damage caused by the destructive earthquakes that hit the region. In 2012, it is about starting to rebuild a vibrant, strong city.

The Government is totally committed to the reconstruction of Canterbury. Budget 2011 put aside $5.5 billion in the Canterbury Earthquake Recovery Fund and created a new government department, the Canterbury Earthquake Recovery Authority, to lead the recovery effort.

Rebuilding Christchurch and its surrounding areas is an unprecedented project - without doubt the biggest economic undertaking in New Zealand's history. The commercial redevelopment of Christchurch is under way. Residential housing reconstruction should be moving up a gear from this month, subject to risks from further seismic activity.

As the rebuilding grows, the demand for workers and materials in Christchurch will be huge. The Government's strong focus will be on removing roadblocks so that demand can be met.

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