Bill English addresses Press at the Beehive.
The Canterbury earthquakes have forced the Government to look more closely at the strength of the country's transport, water, sewerage, energy and communication networks.
The Finance Minister, Bill English, says the Christchurch earthquake means the New Zealand economy is unlikely to grow this fiscal year.
The Treasury is forecasting the Christchurch earthquake will slow economic activity, taking about 15 billion dollars out of the economy over the next five years.
The Finance Minister says the Government will cover the ten billion dollar cost of the Christchurch earthquake by borrowing more rather than cutting spending or putting up taxes.
Treasury has revised its sums on what it thinks will be the full cost of the Canterbury earthquake - which is now estimated at four billion dollars.
Finance Minister Bill English, and the Civil Defence Minister John Carter have a news conference at the Beehive theatrette.
The Treasury is forecasting the Christchurch earthquake will slow economic activity and the Finance Minister says the forecast 11-billion dollar Budget deficit this year will also climb.
The Education Minister is waiting for the Canterbury Earthquake Royal Commission to report back before considering a national survey of all school buildings in the country.
Shows a postman who has just put an 'Earthquake bill' for '$8.5 billion' into the government's letterbox. Context - The New Zealand government will spend about 8.5 billion NZ dollars (6.6 billion U.S. dollars) over the next few years rebuilding Christchurch. New Zealand Finance Minister Bill English said on Tuesday that the Treasury has estimated the direct cost of the two earthquakes is about 5.5 billion NZ dollars), which will be fully provided for in the Budget in May. He said about 3 billion NZ dollars of that relates to thegovernment's share of local government infrastructure, roads, insurance excesses on schools and housing, land remediation from the September quake, demolition, Accidents Compensation Corporation scheme and the business support package. (Xinhuanet 12 April 2011) Quantity: 1 digital cartoon(s).
Photograph captioned by Fairfax, "Finance Minister Bill English visits with Cafe Valentino's owner Michael Turner after the Christchurch earthquake. Valentino's is reopening Friday 17th September".
Two businessmen emerge from a building wondering whether 'Bill English' has ''Made any uplifting pronouncements on the economy or budget lately?..' On the footpath outside is Finance Minister Bill English wearing a sandwich board that reads 'the end is nigh' and carrying a banner that reads 'We're doomed'. Context - the impact of an already struggling economy of the Christchurch earthquakes of 4 September 2010 and 22 February 2011. Quantity: 1 digital cartoon(s).
Finance Minister Bill English takes a chain saw to a huge tome that represents the 'NZ Government BUDGET May 2011'. Context - the Government says cutting budget spending is necessary because it is going to have to pay back money borrowed to rebuild Christchurch. The Government will face the biggest budget deficit in New Zealand's history at the end of the current financial year, Finance Minister Bill English says. (NZ Herald 31 March 2011) Quantity: 1 digital cartoon(s).
Photograph captioned by Fairfax, "Finance Minister Bill English (L) speaks to Caravan, Camping & Marine owners Julie Webb (C) and Nick Hopper. Their shop on Manchester Street was destroyed and then demolished after the earthquake".
Page 22 of Section A of the Christchurch Press, published on Saturday 2 April 2011.
A PDF copy of The Star newspaper, published on Wednesday 31 August 2011.
The cartoon is entitled 'seismic upheaval'. Prime Minister John Key and Finance Minister Bill English stand near great seismic cracks in the ground and stare sadly at a huge wallet, 'Bill's boodle', belonging to Bill English. Vast quantities of banknotes spill out of the cash pocket in the wallet which also contains a 'travel card', a 'house card' and an 'expenses card'. The various cards in the wallet refer to expense account embarrassments relating to Bill English. Etched in the ground are the words 'Christchurch quake' and 'South Canterbury Finance'. The cartoon refers to two major events in the Canterbury area in recent times that have incurred huge government costs; these are the collapse of the South Canterbury Finance Company and the earthquake that struck early Saturday morning 4th September. The South Canterbury Finance Company has been taken into receivership by the government which has guaranteed that all 30,000 fortunate high-risk investors will be paid out $1.6b thanks to the taxpayer. Treasury is assuming that the cost of the earthquake will reach $4 billion, including $2 billion worth of estimated damage to private dwellings and their contents, $1 billion of damage to commercial property, and $1 billion worth of damage to public infrastructure. Quantity: 1 digital cartoon(s).
A new report says the financial cost of a major earthquake in Wellington would be much bigger than the Canterbury quakes. Opposition parties attack the asset sales plan after Bill English's "it's just a guess" comment and cuts to jobs, services, and profits, hard times at Qantas.
A report into why Statistics House failed in the November earthquake has revealed a design flaw in the building, and the Government says all buildings nationwide like Statistics House will now need checking. Christchurch man Jeremy Teaguea wants to overturn the law making wearing a bike helment compulsory. Former cyclone Debbie will make her presence felt here over the next week. Weatherman Richard Green tells us what to expect. Going up for Labour and a downward turn in the polls for National. Is it really because of Jacinda Ardern and Bill English?
A policeman stops a queue of politicians at a checkpoint in Christchurch saying 'Sorry, no politics past this point'. In the queue are Prime Minister John Key, Minister of Finance Bill English carrying a ledger, leader of ACT Rodney Hide wearing his yellow jacket and carrying an axe and a saw and lastly leader of the Labour Party Phil Goff. Context - the Christchurch earthquake of 22 February 2011 and the danger of political point-scoring rather than serious co-operative work to rebuild Christchurch. Quantity: 1 digital cartoon(s).
Text reads 'Collateral damage'. A couple stand looking at a broken column surrounded by fallen masonry; text on the column reads 'Curbs on govt spending'. The man says 'It's a shame. It was due to be unveiled in a few weeks'. Context - the Christchurch earthquake of 22 February 2011; curbs on government spending can be seen as 'collateral damage'. In December 2010 Finance Minister Bill English pledged to keep a cap on spending to rein in a widening deficit as slower consumer demand hinders the economic recovery and hurts tax receipts. The earthquake will make economic recovery even more difficult. Quantity: 1 digital cartoon(s).
Finance Minister Bill English holds a large axe that represents the 'budget' and says 'I wanted to retrieve all my spending tools, but, sadly, with allotted time short, I could only grab this!..' He is standing outside the barrier that surrounds the Christchurch CBD. Context - The Christchurch central business district has been largely out of bounds to anyone but those dealing with the after-effects of the earthquake of February 22 but business owners have been allowed restricted access to retrieve gear and belongings. The 2011 budget looks as though it will be focused on paring everything down because of the sad state of New Zealand's economy at present (made worse by the need to rebuild Christchurch), hence the axe. Quantity: 1 digital cartoon(s).
Finance Minister Bill English scratches his head with frustration as he stands up to his chest in earthquake rubble that represents the 'economy'. Allan Bollard the Governor of the Reserve Bank appears in gumboots asking if he can 'help with rebuilding..? by making an 'OCR cut'; he holds a collection box labeled 'OCR cut'. Context - Two earthquakes and hundreds of aftershocks have hit Christchurch, the first on 4 September 2010 and a second more devastating one on 22 February 2011. The Reserve Bank has made a relatively large 50-point cut in its benchmark interest rate, the Official Cash Rate (from 3% to 2.5 per cent). Critics say that inflation is already running unacceptably high and there is a threat of much higher inflation in a year or two when the rebuilding of Christchurch begins to put pressure on limited resources. The Reserve Bank acknowledged these factors, but it has chosen instead to focus on the immediate impact of the earthquake on the economy and particularly on all-important business and consumer sentiment. (Press editorial 12 March 2011) Quantity: 1 digital cartoon(s).
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.
TODD McCLAY to the Minister of Finance: What reports has he received on progress in building a faster-growing economy? GRANT ROBERTSON to the Prime Minister: Does he have confidence in his Ministers; if so, why? Dr PAUL HUTCHISON to the Minister of Health: What progress can he report on the numbers of patients receiving elective surgery? JACINDA ARDERN to the Minister for Social Development: Does she stand by her answer to oral questions on Tuesday that "There is in New Zealand no actual poverty line" and "I do not see the measurement as a priority"? Dr RUSSEL NORMAN to the Prime Minister: Does he agree with the statement made by the Hon Bill English, in relation to the release of Natasha Fuller's private details by his Social Development Minister, that, "People who enter into public debate are welcome to do so … and should provide their full information to the public"? CHRIS AUCHINVOLE to the Minister of Broadcasting: What percentage of households in Hawkes Bay and on the West Coast of the South Island have gone digital ahead of the digital switchover in these regions on 30 September? CHARLES CHAUVEL to the Minister of Justice: What assistance will be available to families unable to afford the fee of over $900 she proposes to introduce in order to access the new Family Dispute Resolution Service? JOHN HAYES to the Minister for Courts: In light of the opening of the temporary courthouse in Masterton last week, what is the range of services that courts can now offer in Masterton? DENIS O'ROURKE to the Minister for Canterbury Earthquake Recovery: Was restoration of the Christchurch Cathedral included in the Christchurch Central City Recovery Plan; if not, why not? SUE MORONEY to the Minister of Women's Affairs: Is she satisfied with the action this Government has taken to improve the lives of women in New Zealand? JAN LOGIE to the Minister for Social Development: Is she concerned that Wellington Rape Crisis is shutting its doors one day a week because of funding shortfalls? IAIN LEES-GALLOWAY to the Minister of Transport: Which commuter rail services, if any, do not receive funding from the New Zealand Transport Agency?