June 13, 2014 3:00pm by David Farrar

Another possible $5 billion from taxpayers for Christchurch

The Government’s contribution to the rebuild of Christchurch was likely to end up as high as $20 billion, Prime Minister John Key says.

Key said the Government’s commitment to the reconstruction could increase by $5b, and that Christchurch people had turned a corner following the difficult times brought about from the 2010 and 2011 earthquakes.

”We’ve put about $15b of taxpayers money into the rebuild, but it will probably end up being the best part of $20b over time,” Key said.

Yet a small minority claim that isn’t enough. I’m not sure any OECD Government has ever spent more on a natural disaster, as a proportion of GDP.