The Finance Minister, Grant Robertson, hopes cost-sharing packages for storm damage in Auckland and Gisborne will give some certainty to affected homeowners.
In Auckland, the Government will contribute just over a billion dollars for repairs, flood protection and resilience work, and buy-outs of homes no longer fit to live in, with the Council contributing an equal amount.
Almost $780 million is allocated for buyouts, with more than 700 homes affected.
A similar deal, worth just over $200 million has been agreed with the Gisborne District Council including $15 million for property buyouts, in the wake of Cyclone Gabrielle and ongoing rainfail this year.
Grant Robertson spoke to Corin Dann.
