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Budget 2011 provides an extra $10 million to support Cantabrians rebuilding their lives and communities after the earthquake, Social Development Minister Paula Bennett says.

“This funding will go to local agencies to support Canterbury families as they deal with the impact of the earthquake and move forward.”

The cash injection will support counselling services, assist non-government organisations’ case management, co-ordinate services for families and support additional community-based services for those affected by the earthquakes.

Budget 2011 delivers $5.5 billion over six years for the Government’s new Canterbury Earthquake Recovery Fund, Earthquake Recovery Minister Gerry Brownlee says.

The new Canterbury Earthquake Recovery Authority (CERA) will receive $25.5 million of funding over two years, Earthquake Recovery Minister Gerry Brownlee says.

“This funding is purely to set up the new authority. The Government will also spend about $8.8 billion over the next few years to help Canterbury rebuild through the Earthquake Commission, ACC, meeting costs of residential property damage, rebuilding infrastructure such as roads and essential water systems, and welfare support,” Mr Brownlee says.

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.

Budget 2011 will provide up to $42 million for trades training for the Canterbury region, Tertiary education Minister Steven Joyce says.

Funding is being set aside for up to 1500 additional training places as part of a comprehensive cross-agency response to meet additional demand for labour for the reconstruction programme called “Skills for Canterbury”.

The Skills for Canterbury package includes:

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.