1 00:00:00,200 --> 00:00:02,680 Speaker 1: The government has announced a major overhaul of our earthquake 2 00:00:02,759 --> 00:00:06,160 Speaker 1: building rules. From now only concrete buildings three stories or 3 00:00:06,240 --> 00:00:09,559 Speaker 1: higher althose constructed with unreinforced masonry, brick walls and the 4 00:00:09,680 --> 00:00:12,440 Speaker 1: like will be included in that system. Auckland, Northland and 5 00:00:12,480 --> 00:00:15,320 Speaker 1: the Chattham Islands will be completely exempt. Chris Pink is 6 00:00:15,320 --> 00:00:18,439 Speaker 1: the Building Minister and with us now high Chris, Hello, Heather. 7 00:00:18,600 --> 00:00:21,280 Speaker 1: Is this an admission that we went overboard with the previous. 8 00:00:20,960 --> 00:00:25,360 Speaker 2: Rules, Well, it's a refocusing a few years later, having 9 00:00:25,520 --> 00:00:29,240 Speaker 2: seen good rules, well while intention rules come into effect 10 00:00:29,320 --> 00:00:31,920 Speaker 2: and just thinking about the way that it's paid out practically, 11 00:00:32,320 --> 00:00:34,440 Speaker 2: we think that we can refine the system a bit 12 00:00:34,880 --> 00:00:37,560 Speaker 2: so that we can have, you know, still a focus 13 00:00:37,600 --> 00:00:39,599 Speaker 2: on life safety, but actually be a bit sensible and 14 00:00:39,640 --> 00:00:41,960 Speaker 2: balanced about what that means for people who own this. 15 00:00:42,320 --> 00:00:43,520 Speaker 1: Are we accepting more risk? 16 00:00:45,280 --> 00:00:47,519 Speaker 2: I think it's a balanced approach to risk. I think 17 00:00:47,560 --> 00:00:50,479 Speaker 2: actually we're not taking on any more risk given that 18 00:00:50,560 --> 00:00:54,040 Speaker 2: we are focusing on the most dangerous buildings. But also 19 00:00:54,640 --> 00:00:58,400 Speaker 2: maybe an unintended consequence of having a gold standard that's 20 00:00:58,440 --> 00:01:01,560 Speaker 2: proven very difficult to meet. Actually we're more likely that 21 00:01:01,600 --> 00:01:05,200 Speaker 2: the strengthening and remediation work takes place now because it's 22 00:01:05,200 --> 00:01:06,080 Speaker 2: a bit more targeted. 23 00:01:07,480 --> 00:01:08,640 Speaker 1: Will this save the chateau? 24 00:01:10,440 --> 00:01:14,240 Speaker 2: I don't want to get into individual buildings, particularly when 25 00:01:14,280 --> 00:01:17,360 Speaker 2: there's other factors. Well, I mean, each one will be assessed, 26 00:01:18,000 --> 00:01:20,679 Speaker 2: you know, according to the relevant criteria, and I'm not 27 00:01:20,760 --> 00:01:22,880 Speaker 2: familiar enough with them to get into that, but I 28 00:01:22,920 --> 00:01:25,640 Speaker 2: just know there around New Zealand, in small town New 29 00:01:25,720 --> 00:01:27,520 Speaker 2: Zealand as well as some of our biggest cities, there 30 00:01:27,520 --> 00:01:29,679 Speaker 2: will be a lot of winds where places are off 31 00:01:29,720 --> 00:01:31,800 Speaker 2: the hook and people can go ahead and invest in 32 00:01:31,800 --> 00:01:32,240 Speaker 2: them and have that. 33 00:01:32,440 --> 00:01:35,200 Speaker 1: Okay, So the chateau is five stories, right, and it 34 00:01:35,240 --> 00:01:37,360 Speaker 1: looks to me to be made of stone, so it 35 00:01:37,360 --> 00:01:39,399 Speaker 1: would still it would still have to be assessed, right, 36 00:01:39,440 --> 00:01:41,000 Speaker 1: It wouldn't be exempt from these rules. 37 00:01:41,600 --> 00:01:43,319 Speaker 2: Yeah, it sounds to me as though it wouldn't be 38 00:01:43,319 --> 00:01:46,840 Speaker 2: out automatically, but you know, it might also be that, 39 00:01:47,440 --> 00:01:49,240 Speaker 2: you know, and just to make it general, there are 40 00:01:49,240 --> 00:01:51,480 Speaker 2: a few buildings or a large number of buildings actually 41 00:01:51,520 --> 00:01:53,760 Speaker 2: that will remain caught by the system to some extent, 42 00:01:54,000 --> 00:01:57,040 Speaker 2: but will only need a targeted retrofit or maybe just 43 00:01:57,080 --> 00:02:00,000 Speaker 2: the securing of a facade, rather than the full strength 44 00:02:00,360 --> 00:02:01,520 Speaker 2: that the system. 45 00:02:01,320 --> 00:02:03,800 Speaker 1: Currently What about the city to see Bridge and Wellington. 46 00:02:05,920 --> 00:02:09,160 Speaker 2: Again not wanting to get too specific, but that's you know, 47 00:02:09,639 --> 00:02:12,080 Speaker 2: already received a stay of execution on the basis that 48 00:02:12,120 --> 00:02:14,600 Speaker 2: we were about to have the announcement. So it seems 49 00:02:14,600 --> 00:02:17,360 Speaker 2: to me that senity might prevail in terms of that 50 00:02:17,600 --> 00:02:21,520 Speaker 2: and other landmark kind of buildings around the place, some 51 00:02:21,600 --> 00:02:23,399 Speaker 2: of which are owned by councils and some of which 52 00:02:23,400 --> 00:02:25,680 Speaker 2: are privately owned. And then you've got central government as well, 53 00:02:25,800 --> 00:02:29,040 Speaker 2: so potentially a lot of winners of different entities not 54 00:02:29,080 --> 00:02:32,080 Speaker 2: having to spend money that currently the law is forced. 55 00:02:32,120 --> 00:02:34,280 Speaker 1: Wellington obviously has a whole bunch of buildings which are 56 00:02:34,280 --> 00:02:37,720 Speaker 1: basically like, if not abandoned, at least closed because of 57 00:02:37,760 --> 00:02:41,040 Speaker 1: these rules, like Reading Cinema, the Oldamra Hotel and stuff. 58 00:02:41,040 --> 00:02:44,160 Speaker 1: I is it possible that these buildings may actually be 59 00:02:44,240 --> 00:02:45,160 Speaker 1: able to be opened. 60 00:02:46,320 --> 00:02:48,560 Speaker 2: It will be a game changer for some in that respect, 61 00:02:48,800 --> 00:02:50,720 Speaker 2: or it might be that they can't be opened yet, 62 00:02:50,760 --> 00:02:54,160 Speaker 2: but with a relatively small application of new funds would 63 00:02:54,200 --> 00:02:56,440 Speaker 2: be able to get up to the standards. So you know, 64 00:02:56,520 --> 00:03:00,440 Speaker 2: there are different levels of assistance that going to be 65 00:03:00,440 --> 00:03:03,120 Speaker 2: provided by this and will be case by case, but 66 00:03:03,280 --> 00:03:05,680 Speaker 2: overall the effect will be a big win for cities 67 00:03:05,680 --> 00:03:07,239 Speaker 2: like Wellington, but further afield. 68 00:03:07,280 --> 00:03:09,320 Speaker 1: Will it have an impact on insurance premiums? 69 00:03:10,720 --> 00:03:13,800 Speaker 2: I think insurance is probably slightly different. I suspect it 70 00:03:13,840 --> 00:03:18,200 Speaker 2: will have a downward pressure effect in terms of insurance premiums. 71 00:03:18,200 --> 00:03:22,520 Speaker 2: But insurance will typically guard against buildings being damaged or 72 00:03:22,880 --> 00:03:26,280 Speaker 2: compensate in the event that there is damage. So our 73 00:03:26,720 --> 00:03:29,120 Speaker 2: aim as a government is actually to focus on life 74 00:03:29,200 --> 00:03:32,280 Speaker 2: safety risks, so a slightly different metric. But where insurance 75 00:03:32,360 --> 00:03:35,440 Speaker 2: currently say if you've got an earthquake prone building, according 76 00:03:35,440 --> 00:03:37,680 Speaker 2: to the government, we're going to hike your premiums. Those 77 00:03:37,720 --> 00:03:39,240 Speaker 2: people will find some relief. 78 00:03:38,960 --> 00:03:40,640 Speaker 1: All right, Chris, thank you very much, as always Chris 79 00:03:40,720 --> 00:03:44,400 Speaker 1: pink Building Ministry. For more from Hither Duplessy Allen Drive, 80 00:03:44,560 --> 00:03:45,640 Speaker 1: listen live to news 81 00:03:45,680 --> 00:03:48,560 Speaker 2: Talks it'd be from four pm weekdays, or follow the 82 00:03:48,640 --> 00:03:50,280 Speaker 2: podcast on iHeartRadio.