EQC faces budget blowout if home repair deadline missed

Wed, 05 Mar 2014

By Suze Metherell March 5 (BusinessDesk) – The Earthquake Commission, which has an estimated $12 billion of claim liabilities from the Canterbury earthquakes, faces a potential cost spiral if it misses a year-end target to complete all home repairs, says the Auditor General. The Auditor General’s review team for the EQC’s management of the Canterbury Home Repair Programme told the finance and expenditure select committee that inflationary pressures in the construction industry will accelerate as the rebuild ramps up, making it harder for the...

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