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The Government will launch a new Earthquake Kiwi Bond to help fund the recovery in Christchurch and provide investors with a new savings option, Finance Minister Bill English says.

The new four-year bond is similar to a term deposit and is available to New Zealand residents from today.

“This is a great opportunity for Kiwi investors who want to help fund the Government's contribution to the multi-billion dollar recovery in Canterbury, while still getting a solid return on their money,” Mr English says.

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.