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Civil Defence Minister John Carter has today extended the state of national emergency until 18 April, in the aftermath of the 6.3-magnitude earthquake that struck Christchurch on 22 February.

The state of national emergency in New Zealand - that applies specifically to Christchurch City - was declared on 23 February. Under the Civil Defence Emergency Management Act 2002 a state of national emergency can be declared for a maximum of seven days at a time only.

Revenue Minister Peter Dunne today announced proposed changes to depreciation rules aimed at giving Christchurch businesses further tax relief, but with two of the measures to be extended to general tax law.

He said Cabinet agreed yesterday to three proposed changes in the rules for the tax treatment of depreciation, specifically around rollover relief, timing of deemed sales of destroyed insured assets, and losses on buildings.

The Government will spend about $8.5 billion over the next few years to help the rebuilding of Christchurch, Finance Minister Bill English said today.

“The earthquakes do not fundamentally change our economic situation or the Government’s programme,” he said in a speech to the Wellington Employers’ Chamber of Commerce. “They simply make the task of returning to surplus a little more difficult.”

Good afternoon and thank you to the Wellington Employers’ Chamber of Commerce for inviting me back to speak to you this year.

To say that a lot has happened since I spoke to you 12 months ago is something of an understatement.

Throughout 2010, aftershocks from the global financial crisis continued to ripple around the world.

The Government will introduce legislation to Parliament tomorrow to enact the Canterbury Earthquake Recovery Authority, Earthquake Recovery Minister Gerry Brownlee said today.

"It is our intention to pass the Canterbury Earthquake Recovery Bill under urgency this week. This is to enable the people of greater Christchurch to get on with rebuilding their city as quickly as possible," Mr Brownlee said.

Prime Minister John Key today welcomed Westpac’s announcement of a temporary business hub for quake-affected small businesses in Christchurch.

The Westpac Business Hub, set to open in early May, will give local small- and medium-sized businesses free access to office space, and key services and networks. It is expected the Hub will be able to house up to 70 businesses at any one time.

The Government has announced it will provide a back up financial support package for AMI Insurance to give policyholders certainty and to ensure an orderly rebuild of Christchurch in the aftermath of the two earthquakes.

The support package would be called on only as a last resort if AMI’s own reserves have been exhausted – unless the Crown believes it is in the public interest to take control sooner, Finance Minister Bill English said today.

More than 90 Canterbury exporters will be reinforcing their relationships with key customers in the coming weeks thanks to the Christchurch Market Connections Fund, launched 10 days ago as part of the government’s economic recovery package for earthquake-affected businesses.

Over $1.3 million of the $2 million fund has already been approved to support 91 firms seeking to strengthen relationships and reassure customers that Christchurch, and New Zealand, is open for business.

A significant impact from the second Canterbury earthquake and revisions to expected Crown recoveries under the Retail Deposit Guarantee Scheme are reflected in the Government’s accounts for the eight months to February.

“The accounts do not include the full costs of the earthquake,” Finance Minister Bill English says. “But they do include an estimate of the Earthquake Commission’s net cost of $1.5 billion.

Civil Defence Minister John Carter has today extended the state of national emergency until 6 April, in the aftermath of the 6.3-magnitude earthquake that struck Christchurch on 22 February.

The state of national emergency in New Zealand - that applies specifically to Christchurch City - was declared on 23 February. Under the Civil Defence Emergency Management Act 2002 a state of national emergency can be declared for a maximum of seven days at a time only.

Earthquake Recovery Minister Gerry Brownlee says Coca-Cola Amatil New Zealand’s announcement today that it will build a $15 million state-of-the-art bottling plant in Christchurch makes an important statement about the city’s future.

"The clear message from Coca-Cola is it believes Christchurch will maintain its role as the South Island’s economic powerhouse.

Financial advisers affected by February’s earthquake will have more time to fully comply with the financial adviser regime, Cabinet has decided.

Commerce Minister Simon Power said new regulations made under the Canterbury Earthquake Response and Recovery Act will provide relief for advisers who have their place of business in the Canterbury region.

Prime Minister John Key today announced the creation of a new, single authority to provide leadership and coordination of the ongoing recovery effort in Canterbury.

The Canterbury Earthquake Recovery Authority (CERA) will be established as a stand-alone government department to enable an effective, timely and co-ordinated rebuilding and recovery effort in Canterbury.

CERA will have a lifespan of five years and its operations will be reviewed annually.

Earthquake Recovery Minister Gerry Brownlee says the establishment of the Canterbury Earthquake Recovery Authority (CERA) will provide leadership and coordination of the recovery effort following the February 22 earthquake.

“Numerous factors were considered in determining the best way to provide leadership and certainty for the rebuilding and recovery effort,” Mr Brownlee said.

The Government has put in place several tax relief measures to help Christchurch residents and businesses trying to get back on their feet after last month’s earthquake, Finance Minister Bill English and Revenue Minister Peter Dunne announced today.

“With the end of the tax year rapidly approaching, businesses and employers in Christchurch and around New Zealand need some certainty about the tax issues arising from the Canterbury earthquakes,” Mr English said.

Social Development Minister Paula Bennett has announced extended support for employees who have lost their jobs due to the earthquake.

The current Job Loss Cover for displaced employees will be extended by two weeks to April 18 then replaced with an Individual Support Payment.

“People who lost their jobs and have no option to stay with their original employer will get support as they look for alternative work,” says Ms Bennett.

A second round of assistance will support viable Christchurch businesses and help individuals who have lost jobs as a result of the earthquake.

“This second phase is designed to help employers transition into longer term solutions,” says Social Development Minister Paula Bennett.

The current Earthquake Support Subsidy (ESS) to help employers keep paying wages, will be extended for two weeks to 18 April, followed by a further six-week round with tighter criteria.

The next round will be available to employers who:

Prime Minister John Key today announced extended assistance for Christchurch businesses and workers following the initial Earthquake Support package launched last month.

Both the Earthquake Support Subsidy for employers and the Job Loss Cover for workers will be extended until 18 April, followed by a second round of assistance with tighter application criteria.

“The purpose of this initial package was to be a solid first step for Christchurch businesses and individuals on the road to rebuilding their lives and livelihoods,” says Mr Key.

Earthquake Recovery Minister Gerry Brownlee today confirmed that New Zealand Customs chief executive Martyn Dunne will not be involved in the new government department that will manage the rebuilding and recovery of Canterbury following the February 22 earthquake.

Mr Brownlee said media speculation about Mr Dunne’s role had been premature; Mr Dunne had not been appointed interim chief executive of the department, though he had been doing some work for the State Services Commission to help with its establishment.

Prime Minister John Key says ASB’s announcement that it will invest $250 million to stimulate the Christchurch economy is both generous and far-sighted.

Mr Key was in Christchurch with incoming ASB Chief Executive Barbara Chapman when she announced a $250 million investment programme to support the Christchurch rebuild.

Among other initiatives, ASB is offering;

· reduced interest loans and six-month repayment holidays to existing home loan customers significantly impacted by the earthquake

Civil Defence Minister John Carter has today extended the state of national emergency until 31 March, in the aftermath of the 6.3-magnitude earthquake that struck Christchurch on 22 February.

The state of national emergency in New Zealand - that applies specifically to Christchurch City - was declared on 23 February. Under the Civil Defence Emergency Management Act 2002 a state of national emergency can be declared for a maximum of seven days at a time only.

Access to businesses in the cordoned red zone of Christchurch city is being addressed by the National Controller, Civil Defence Minister John Carter said today.

“Last night, National Controller Steve Brazier and I had a very positive meeting with representatives from the Central City Business Association, the New Zealand Retailers’ Association, Canterbury Development Corporation, Canterbury Employers’ Chamber of Commerce and Canterbury Business Recovery Group,” Mr Carter said.

Minister of Revenue Peter Dunne has welcomed the announcement yesterday by the Australian Government that Australian taxpayers can now make tax deductible donations directly to the Christchurch Earthquake Appeal.

“This is a very generous gesture from our friends in Australia. By making donations towards the Appeal tax deductible for Australian donors it recognises and encourages in a very practical way the significant contribution that people living in Australia are making towards our earthquake recovery efforts in Christchurch,” Mr Dunne said.

Canterbury Earthquake Recovery Minister Gerry Brownlee has welcomed the progress Waimakariri District Council has made in developing a programme of work to fix the damage caused by the 4 September earthquake.

"Kaiapoi wasn't badly affected by the 22 February earthquake so it's great they are getting on with fixing the damaged land and homes," Mr Brownlee said.

"This government is committed to rebuilding Christchurch and Canterbury as quickly as possible."