Bill for Kaik­oura quakes $500m

The Timaru Herald - - FRONT PAGE - LIZ MCDON­ALD

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.

PHO­TOS: BROAD­CAST ME­DIA

A close view of the buried dig­ger.

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