A Treasury report has found the Christchurch anchor project programme - which includes a sports facility, convention centre and a stadium - has already missed key milestones. The report gave the programme a red rating, and said it was highly likely to need more money.
Finance Minister Bill English told Radio New Zealand the report's findings were out of date as it was drawn up five months ago.
Canterbury Earthquake Recovery Minister Gerry Brownlee has reacted angrily to the report, saying it is "very much a Wellington bureaucrat view" and "dreadfully pessimistic".
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