10 MAY 2015

The Taxpayers’ Union is welcoming today’s announcement from Building and Housing Minister, Nick Smith, that the Government will be applying a more targeted approach to earthquake-prone buildings. Reacting to the announcement Taxpayers’ Union Executive Director, Jordan Williams, says:

“A study undertaken last year by Tailrisk Economics concluded that under the current policy $3 billion will need to be spent on earthquake strengthening in Auckland alone. Despite that cost, experts estimated that it would take 4,000 years to save a single life within Auckland.”

“The previous ‘one size fits-all’ policy was a massive regulatory tax and lacked evidential foundation. We welcome the more targeted approach.”

ENDS

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