Chamber estimates $40bn rebuild cost

12:50 pm on 27 April 2013

Canterbury Employers Chamber of Commerce has put the cost of rebuilding Christchurch at $40 billion.

Chamber chief executive Peter Townsend said on Friday it had conducted assessments on housing, infrastructure and commercial building damage to reach its figure.

Earlier in April, the Government said the cost was climbing and was likely to exceed $25 billion. Canterbury Earthquake Recovery Minister Gerry Brownlee said the Government should have a new estimate by May.

Mr Townsend said the Government is dragging the chain on establishing an accurate total cost which he said is crucial so planning can be conducted with certainty.