Canterbury Earthquake - Effect on the sharemarket
Audio, Radio New Zealand
The earthquake has also affected financial markets. The New Zealand dollar has tumbled, and the stockmarket has extended its losses.
The earthquake has also affected financial markets. The New Zealand dollar has tumbled, and the stockmarket has extended its losses.
Scientists studying last month's earthquake in Christchurch say the shaking was exacerbated by a slapdown or trampoline effect that made the land under the city bounce up and down.
A seismic engineer says many of the Christchurch buildings destroyed in Tuesday's quake weren't designed to cope with such intense forces - and it's possible damage from the September 4th earthquake went undetected.
Canterbury's health officials say an increase in binge drinking, not taking medicines, and domestic violence are signs of the ongoing effect of the region's earthquakes.
The 6.7 magnitude earthquake which struck Christchurch three years ago didn't just destroy large amounts of the city's infrastructure, it also had a profound effect on the natural environment.
Some Christchurch business owners are criticising the government for winding down the earthquake support package. The Government has extended the package, which pays employees of quake effected business a wage subsidy for two more weeks.
Ongoing post-earthquake stresses are having an effect on Cantabrians, resulting in increased demand for anger management counselling. We hear from Jo Westbury, clinical director of Stopping Violence Services, and Struan Duthie, director of Petersgate Counselling.
University of Canterbury's Professor David Schiel is looking at how biological habitats are responding and recovering along the approximately 130km of coastline effected by November's magnitude 7.8 earthquakes. He wants people who are riding quad bikes over the newly uplifted land to be mindful of the possible consequences on the bird and sea life living there.
Central Christchurch restaurant and bars say they could be heading into the "worst winter to date". Eight years on from the earthquakes there are more restaurants and bars in the city than ever before - but owners say there aren't enough customers. Now they're grappling with added uncertainty over the effect of the mosque attacks on visitor numbers.
Topics - it's been described as the 'Downton Effect' - a revival of more formal dinner parties as the British try to bring back fine dining. Today we learned that insurance companies have completed just 15 per cent of rebuilds and 10 per cent of over-cap repairs more than three years after the Canterbury earthquakes. A series of rallies are being held in five Australian cities today by New Zealanders protesting against legislation which denies them rights to welfare. Commuters are cautiously optimistic about a radical revamp proposed for Wellington's rush-hour rail service.
DAVID SHEARER to the Minister for State Owned Enterprises: Has the Government met the five criteria the Prime Minister laid out for proceeding with asset sales? Dr RUSSEL NORMAN to the Minister of Finance: Will New Zealanders have money taken from their bank accounts to fund a bank bailout under his proposed Open Bank Resolution scheme? TODD McCLAY to the Minister of Finance: What reports has he received on New Zealand's balance of payments? Hon ANNETTE KING to the Minister of Health: Does he stand by all his statements regarding "Better, Sooner, More Convenient" health care; if not, why not? MARK MITCHELL to the Minister of Police: What reports has she received from Police on the success of pre-charge warnings? PHIL TWYFORD to the Minister of Housing: Why did he tell the House that, even if the Auckland plan took effect in September, new subdivisions would not be available until 2016-17, when the advice he tabled from Roger Blakely of Auckland Council shows that if the unitary plan takes effect in September new land would be available two years earlier? ALFRED NGARO to the Minister for Social Development: How will the Social Security (Benefit Categories and Work Focus) Amendment Bill back people off welfare and into work? GRANT ROBERTSON to the Prime Minister: Does he stand by all his statements on the actions and involvement of the Department of the Prime Minister and Cabinet and the Government Communications and Security Bureau in Operation Debut? SCOTT SIMPSON to the Minister of Health: What is the Government doing to extend access to free flu vaccines? METIRIA TUREI to the Minister for Social Development: Does she have an obligation, as Social Development Minister, to ensure all policy she is responsible for will be good for children and their families? Hon KATE WILKINSON to the Minister for Primary Industries: What announcement has he made on the drought in New Zealand? Rt Hon WINSTON PETERS to the Minister for Canterbury Earthquake Recovery: Have allegations of fraud and corruption involving Canterbury earthquake recovery and rebuild contracts been raised with him as Minister; if so, what specific steps has he taken to address them?
Questions to Ministers 1. Dr RUSSEL NORMAN to the Minister of Justice: Is it his view that the justice system should provide rehabilitation and give people the chance to change? 2. Hon ANNETTE KING to the Minister for Canterbury Earthquake Recovery: Is he satisfied with progress on the recovery from the Canterbury earthquake so far? 3. DAVID BENNETT to the Minister of Broadcasting: What recent announcements have been made regarding digital switchover? 4. SUE MORONEY to the Minister of Education: What policy initiatives has she developed for early childhood education? 5. AARON GILMORE to the Minister of Civil Defence: What is the update on the Canterbury Civil Defence states of emergency? 6. Hon DAVID CUNLIFFE to the Minister of Finance: Did the Treasury evaluate the net effect on South Canterbury Finance's position of the February 2010 acquisition of Helicopters (NZ) Ltd and Scales Corporation shares, including the effect of the transaction on the recoverability or impairment of South Canterbury Finance's $75 million loan to its parent company, Southbury Group Ltd? 7. LOUISE UPSTON to the Minister of Energy and Resources: Will Cantabrians whose chimneys have been significantly damaged by the recent earthquake be covered by the Earthquake Commission to replace their old log burners or open fires with new efficient heaters? 8. Hon TREVOR MALLARD to the Minister of Education: What support will be available in 2011 to schools that have very poor numeracy national standards results in 2010? 9. SANDRA GOUDIE to the Minister of Corrections: What support is the Corrections Department offering to Canterbury community groups and individuals to help with earthquake recovery? 10. DARIEN FENTON to the Minister of Labour: Does she stand by her statement to the House on 14 September 2010 that the 90-day trial provisions "do not take away rights"? 11. CHESTER BORROWS to the Minister of Housing: What is the Government doing to assist people whose homes are not habitable following the Canterbury earthquake? 12. PHIL TWYFORD to the Minister of Local Government: When he said in the House yesterday that the Auckland Transition Agency "ran a tender to deliver an enterprise resource planning system" was he referring to merely the $14.3 million contract for the implementation of the Enterprise Resource Planning system or was he referring to the full contract of $53.8 million to deliver the Enterprise Resource Planning system? Questions to Members 1. DARIEN FENTON to the Chairperson of the Transport and Industrial Relations Committee: How many submissions have been received on the Employment Relations Amendment Bill (No 2)?
Tax, water and housing concerns were all debated at length by Bill English and Jacinda Ardern in last night's TVNZ leaders debate. The debate came just an hour after shock 1 News Colmar Brunton poll put Labour out in front. There have been fires and explosions at a flood damaged chemical plant near Houston forcing the evacuation of people in nearby homes. A block of flats in Aro Street has been evacuated after a large slip has come down behind it. After heavy rains and flooding a Mumbai building has collapsed, killing at least 23 people. Biosecurity officials say they expect to decide by the end of the year whether they will need to order the destruction of dairy herds to wipe out a cow disease that's broken out in the South Island. It's been revealed that not a single one of New Zealand's 315 police buildings constructed before 2011 have had a full earthquake safety check. People who've bought houses in Canterbury since the September 2010 earthquake and are still battling with insurance companies over repairs, have been told that if they want to take the matter to court, today is their last chance. The Government has begun urgent talks with Australia over the Queensland's state government's "discriminatory" trade policy which takes effect today. Trade Minister Todd McClay joins us.
Hon SIMON BRIDGES to the Prime Minister: Does she stand by all her Government’s policies and actions? KIRITAPU ALLAN to the Minister of Finance: What reports has he seen on the need for innovation in the New Zealand economy? Hon AMY ADAMS to the Minister of Finance: Does he agree with the Prime Minister’s comment, “I absolutely believe that our agenda will grow the economy, will make sure businesses are in a position to grow and prosper, because I need that economic growth to be able to lift the well-being of all New Zealanders”? Hon PAUL GOLDSMITH to the Minister for Economic Development: Does he still think the ANZ survey of business confidence is junk? Dr DUNCAN WEBB to the Minister of Justice: What recent announcements has he made about the Family Court? Hon MICHAEL WOODHOUSE to the Minister of Immigration: Does he stand by all of his statements and actions? JONATHAN YOUNG to the Minister of Energy and Resources: What advice, if any, did she receive in respect of the obligation to act in accordance with the Minerals Programme for Petroleum regarding the Government’s decision to offer no new offshore permits? ANDREW BAYLY to the Minister for Building and Construction: What procedures, if any, will she put into place to ensure Government agencies adhere to MBIE’s Government procurement guidelines for construction projects? Hon Dr NICK SMITH to the Minister of Justice: Does he stand by all of his statements on the Electoral (Integrity) Amendment Bill and the potential chilling effect it will have on the expression of dissenting views? CHRIS BISHOP to the Minister of Internal Affairs: Does she stand by all her statements around the Government inquiry into the appointment of the Deputy Commissioner of Police? Dr LIZ CRAIG to the Minister of Health: What confidence can the public take from the review of the National Bowel Screening Programme that was released this morning? STUART SMITH to the Minister of Justice: What advice, if any, has he received on the need for the Canterbury Earthquakes Insurance Tribunal?
DENIS O'ROURKE to the Minister for Canterbury Earthquake Recovery: Is he satisfied with progress on all aspects of the Canterbury earthquake recovery? JACINDA ARDERN to the Minister of Police: Does she have confidence in the Police investigation of alleged sexual violation against young women and underage girls in West Auckland? PAUL GOLDSMITH to the Minister of Finance: What progress has the National-led Government made in building a more productive and competitive economy capable of supporting more jobs and higher incomes for New Zealanders? METIRIA TUREI to the Minister of Police: When was she first advised that Police had received a complaint from a girl who alleged she had been raped by members of a group calling themselves the Roast Busters? Hon DAVID PARKER to the Minister for Communications and Information Technology: Will the Government enforce its broadband contract with Chorus? CLAUDETTE HAUITI to the Minister for the Environment: What announcements has the Government made in relation to the national policy statement for freshwater? PHIL TWYFORD to the Minister of Housing: What reports has he received on the effect of loan-to-value restrictions on the housing market? Hon PHIL HEATLEY to the Minister for Social Development: What reports has she received about the number of people receiving benefits? CAROL BEAUMONT to the Minister for Tertiary Education, Skills and Employment: How does women's participation rate of 1 percent in building and construction industry training assist with the Christchurch rebuild? Dr CAM CALDER to the Minister of Education: What recent announcements has she made to strengthen the status of the teaching profession? EUGENIE SAGE to the Associate Minister of Health: Does she agree with the Canterbury Medical Officer of Health that increasing nitrate levels in Canterbury groundwater are a health risk, particularly for pregnant women and babies; if not, why not? HONE HARAWIRA to the Minister of Finance: What is his budget plan, if any, to immediately address growing poverty in New Zealand, which has got so bad that charitable organisations have today said they are expecting an influx of more than 40,000 struggling families for Christmas dinner because they can't afford to put food on the table?
1. Hon PHIL GOFF to the Prime Minister: Has the tax switch which he promised would leave no-one worse off fully compensated all New Zealanders for the rise in the cost of living over the last year; if not, which groups are worse off? 2. Dr RUSSEL NORMAN to the Minister of Finance: Does he agree that due to inflation, no new spending in the upcoming Budget is the equivalent of a cut in real terms? 3. DAVID BENNETT to the Minister of Finance: What tax changes take effect on or around 1 April? 4. Hon DAVID CUNLIFFE to the Minister of Finance: Why did he announce on 17 March 2011 that the Government would carry all the costs of earthquake reconstruction on its balance sheet with no reduction in operating spending, when the Prime Minister said just three days later that new operating spending would be reduced to zero? 5. AARON GILMORE to the Minister of Education: What progress has been made re-opening schools and early childhood education centres in Christchurch following the 22 February earthquake? 6. CHARLES CHAUVEL to the Minister of Civil Defence: To date, how many buildings have been demolished in Canterbury without notifications to the building or business owners? 7. HONE HARAWIRA to the Attorney-General: Is he satisfied that he has the support required for the Marine and Coastal Area (Takutai Moana) Bill to pass into law? 8. DARIEN FENTON to the Minister of Labour: What impact, if any, will the Christchurch earthquake have on the Government's employment law changes due to be implemented on 1 April? 9. JONATHAN YOUNG to the Minister of Corrections: What progress has been made toward the implementation of the smoking ban in New Zealand prisons? 10. CLARE CURRAN to the Minister for Communications and Information Technology: By what date will the 75 percent of urban New Zealanders receive ultra-fast broadband under his current proposal? 11. METIRIA TUREI to the Prime Minister: Does he stand by his statement that the "Government will build the effectiveness of New Zealand's public transport networks" and "will be working closely with the Auckland Council as they develop their strategic vision for the City through the Auckland Spatial Plan"? 12. TODD McCLAY to the Minister for Social Development and Employment: What counselling support is available for Cantabrians impacted by the earthquake?
DAVID SHEARER to the Prime Minister: Does he stand by his statement “My expectations are that this will be a busy, hard three years’ work and we will need to deliver results for New Zealanders”? Dr RUSSEL NORMAN to the Prime Minister: Does he stand by his statement that “we don’t favour one group over another”? PAUL GOLDSMITH to the Minister of Finance: What reports has he received on housing affordability? GRANT ROBERTSON to the Prime Minister: When his office had a “quick look at the matters involved” with regard to the funding of the Mackenzie Sustainable Futures Trust, whom did they speak to and what documents did they look at to arrive at their conclusion that “we did not find anything that raised concerns to us”? MELISSA LEE to the Minister for Social Development: What initiatives has the Government put in place to better protect children? ANDREW WILLIAMS to the Minister of Finance: Does the Government still intend to achieve a budget surplus by 2014/15; if so, how? GARETH HUGHES to the Minister of Energy and Resources: Does he stand by his statement on the Campbell Live 9 February programme on fracking that, “In Taranaki, it’s actually been done very, very well. There’s been no effect on the environment whatsoever”? Dr JIAN YANG to the Minister of Health: What progress has been made in providing improved child health services? Hon DAVID PARKER to the Minister of Finance: Does he stand by his statement regarding migration to Australia “What’s the point of standing in the airport crying about it?”; if so, how many of the 158,167 people that have migrated to Australia since November 2008, as reported by Statistics NZ, are from 18 to 30 years of age in number and percentage terms? COLIN KING to the Minister of Science and Innovation: How will the Advanced Technology Institute boost business-led research and development? Hon LIANNE DALZIEL to the Minister for Canterbury Earthquake Recovery: Why did he use section 27 of the Canterbury Earthquake Recovery Act 2011 to amend the Canterbury Regional Policy Statement instead of using the Order in Council provisions of the Act or developing the recovery strategy or a recovery plan? SHANE ARDERN to the Minister for Primary Industries: What recent announcements has he made to further improve New Zealand’s biosecurity system?