The Finance Minister, Bill English, says the Christchurch earthquake means the New Zealand economy is unlikely to grow this fiscal year.
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.
Bill English addresses Press at the Beehive.
Federated Farmers have offered help for the earthquake.
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.
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.
An open field along the west side of Manchester street, bounded by a row of well-grown English Poplars and known as the Circus Paddock, was regularly used for touring circuses which came to town.
Several months after the Canterbury earthquakes the Minister for the Redevelopment of Christchurch, Gerry Brownlee, tells people in Christchurch to stop fretting as 'Christchurch will still be a very English looking city'. He refers to several rebuilding options that imitate English cities. Quantity: 1 digital cartoon(s).
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.
Page 22 of Section A of the Christchurch Press, published on Saturday 2 April 2011.
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).
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).
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).
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).