This doesn't include the costs of researching and developing better baits and more effective traps or monitoring the outcomes of eradication.
Nevertheless, set against the Government's estimate that the direct annual economic cost of animal pests to the primary sector is around $1.8b, it looks like something worth doing.
Where will the funding come from? The Government offers to match every $2 of private sector and local government funding with $1 of funding.
Beyond that there are few details. Will the Government money really be additional to current expenditure, or will some of it come from redirecting funding away from present programmes towards large-scale predator eradication?
What will happen to current corporate sponsorship? Will sponsors continue to support species- or small area-specific initiatives, or will they be pressured to invest in these larger, more prestigious projects?
What will happen to the many local, volunteer-led initiatives?
A recent review identified more than 600 environmental groups involved in managing natural resources at a wide range of scales, from less than a hectare to several thousands.
Many carry out animal- and plant-pest control, but they do much else besides: habitat restoration; species reintroductions and support; maintenance of visitor facilities; environmental education.
Some operate with the Department of Conservation (DoC) or regional authorities. Many work independently.
Almost all are chronically underfunded. Most rely on the generosity of individual donors, small businesses, some non-government agency grants, and their own pockets to sustain their efforts. Some groups, such as at Bushy Park, are funded partly through DoC's Community Conservation Partnership Fund (CCPF). In most cases, that funding is for two to three years only.
Although CCPF funding overall is only guaranteed for a few more years, if it is redirected, who will make up the funding shortfall?
If groups fail because of lack of funding or other support, it isn't just them that suffer, but also the native biota and ecosystem functioning that they were seeking to conserve.
Ensuring that small groups are not sidelined will be critical to the acceptance and success of the government's initiative.
Finally, will New Zealand society overwhelmingly buy into this ideal and become involved as envisaged? Although the proposal is to eradicate rats, possums, and mustelids such as stoats, what about feral cats, top predators? How will they respond?
And what about the livelihoods of people involved in the possum fur trade? We already see irreconcilable differences on the use of toxins such as 1080. Will some of the proposed new technologies fare better? Watch this space: the real battle may ultimately be for people's hearts and minds.
�Peter Frost is an environmental scientist working as a volunteer at Bushy Park to help conserve our native biodiversity.