New quakes won't have big impact on budget - PM

7:54 am on 25 December 2011

Prime Minister John Key says the fresh round of earthquakes in Christchurch will have no significant impact on the government's $30 billion recovery budget for the region.

Mr Key says it appears the main damage from the biggest of the tremors and the subsequent aftershocks has been confined to areas that have already been damaged.

He says a full assessment will be carried out later, but he doesn't think the new damage will be that significant for the budget.

"There'll be some additional cost and some additional impact, but we don't think that will be overly significant in the overall scheme of what is a very expensive exercise in terms of rebuilding Christchurch."

The Prime Minister does not expect the latest round of quakes to have a dramatic impact on insurers, as the pattern of aftershocks is nothing out of the ordinary.

Mr Key says the latest round of quakes should not have a major impact on the timing of the re-build.