Bill for Kaikoura quakes $500m
The Kaikoura earthquakes are expected to cost New Zealand about half a billion dollars.
A new Governmentcommissioned report estimates in the 18 months from the November 2016 earthquakes, New Zealand’s gross domestic product will suffer by $450 million to $500m.
The report, released by Economic Development and Transport Minister Simon Bridges, details the economic impact of disruptions caused by infrastructure damage and road closures on tourism and other businesses. Of the total, Canterbury is expected to bear a quarter of the cost, suffering by $110m to $130m. The cost to the rest of New Zealand is estimated at $340m to $370m.
‘‘Increased freight transport costs and impacts on businesses from infrastructure damage and transport disruptions are the two key contributing factors,’’ Bridges said.
He said the Government had so far incurred costs including beginning reinstatement of State Highway 1, upgrading the alternative route between Picton and Christchurch, supporting tourism and primary industries, a grant to help restore Kaikoura Harbour, and
A digger working at the top of a slip on State Highway 1 near Kaikoura was buried by another slip.
A close view of the buried digger.