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- By Christopher Luxon, Prime Minister and MP for Botany
Our Government recently announced important changes to the earthquake-prone building system (EBP) – changes that will ultimately save New Zealand around $8.2 billion in demolition and remediation costs.
While well-intentioned, the EPB system ultimately captured buildings across New Zealand that it shouldn’t have.
This has meant that building owners have faced an overwhelming financial burden, with the cost of strengthening often ranging between hundreds of thousands to several million dollars.
If you’ve driven through a rural area or small town recently, you might have seen derelict buildings sitting empty – churches, town halls and classrooms.
These are all buildings that are central to local economies and community spirit, but because of the current rules, they’re often sitting empty as the cost of remediation is so high.
We’re removing the New Building Standard (NBS) ratings and replacing them with a new system that’ll only capture buildings that pose a genuine risk to life in medium and high seismic zones.
These changes remove Auckland and Northland from the scheme entirely. The new system will still ensure there’s an appropriate risk balance.
Unreinforced masonry buildings under three storeys in small and rural towns will also no longer require remediation or warning notices, but owners must secure the façade before the building can be removed from the earthquake-prone register.
These changes will save New Zealanders $8.2 billion. New Zealand’s towns and regional areas are set to save around $1.8bn, which is a game-changer for them.
Because of our changes, Auckland will save around $4.5 billion. That $4.5b is now money that can flow into productive investments, which will grow Auckland’s economy and create jobs.
Whether that means businesses can expand or take on more staff, they can now choose to spend their own money as they wish.
