We have to rethink risk after cyclone

The Pan Pac pulp mill north of Napier was underwater earlier this week. (Image: NZME)

Thu, 16 Feb 2023

Some large numbers are now starting to be thrown around regarding the economic cost of Cyclone Gabrielle.Stepping aside from economic disruption and the near-term economic cost, the bigger picture is the need for some serious decision-making about fit-for-purpose infrastructure and risk management for the long haul.The cost to that could be way beyond the billions being thrown around at present.We are talking a multi-decade investment bonanza to mitigate risks. Money for that will need to come from debt, or more national savings, and we are not...

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