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Higher Christchurch rebuild costs
are a sign of private sector backing for the city,
Prime Minister John Key says.
Yesterday the Government revealed
the estimated cost of rebuilding Christchurch had risen
from $30 billion to $40b,
with the Government's own contribution
increasing by $2b to $15b in the latest figures.
Today Key said the higher spend
in some cases reflected that the private sector
was spending more in the city than previously expected.
Key told TVNZ that the costs could reflect where a building
which was worth $50 million
was being replaced by one costing $150m.