Will the Government's new earthquake bill bring the country to its knees?

Might sound like an exaggeration but the financial implications of this Bill need to be carefully considered.

The Bill is a good one and will hopefully make our buildings stronger. It commendably builds on the recommendations of the Royal Commission.

However, the Government so far has failed to answer one basic question: how can you impose a stronger regulatory regime without considering the costs on citizens? The requirement to strengthen or demolish all buildings in this country will put many owners under the gun. Smaller centres like Whanganui may be punished heavily.

Yet, the Government's Regulatory Impact Statement is basically silent on this question. I look forward to the Select Committee process where this issue will hopefully be explored in full. It needs to be.