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.
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.
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?