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Quake Recovery

The theme of resilience was strong throughout the budget but came into sharp focus when considering our ability to cope with natural disasters.

Funding for the Christchurch rebuild continues, as does rebuilding and repairing infrastructure in the wake of the Kaikoura quake. Shoring up the National Disaster Fund is a priority so from 1 November this year the Earthquake Commission (EQC) premium rate will increase from 15 cents per $100 in cover to 20 cents per $100 in cover. This increases home owners' annual EQC premiums by up to $69 per year.