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Budget 2017 Home Page Budget Economic and Fiscal Update 2017

NOTE 24: Net earthquake expenses (operating and capital)

These net earthquake costs are the latest estimates of the net impact on the Crown of the earthquakes. These estimates reflect the known costs under current policy settings. They do not include future decisions the Government may take regarding the rebuild.

The forecasts assume that any additional costs to the Crown will be met within budget allowances.

2011-16
Actual
$m
2017
Forecast
$m
2018
Forecast
$m
2019
Forecast
$m
2020
Forecast
$m
2021
Forecast
$m
Outside
forecast
period
$m
Total
Budget
Update
$m
Total
Half Year
Update
$m

Expenses by source

Core Crown recovery costs 6,867 1,301 660 383 269 62 98 9,640 9,357
SOEs and CEs recovery costs 7,433 (16) 89 110 117 44 41 7,818 7,824
Total Crown earthquake expenses 14,300 1,285 749 493 386 106 139 17,458 17,181

Operating and Capital expenses

Operating expenditure (OBEGAL) 12,084 331 74 124 124 56 6 12,799 12,660
Capital expenditure 2,216 954 675 369 262 50 133 4,659 4,521
Total Crown earthquake expenses 14,300 1,285 749 493 386 106 139 17,458 17,181
Total Cash payments1 11,570 3,038 1,131 547 439 135 140 17,000 16,593

Note:

  1. Some expenses are non-cash (eg, asset write-offs and impairments) and therefore do not have a cash element to them.

Further information on Canterbury earthquake expenses can be found in the Additional Information published on the Treasury website.

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