The Economic Development Minister says the economic activity in Canterbury isn't about to fall off the end of a cliff, despite an economist warning that's exactly what's about to happen.

A report out by Westpac yesterday forecasts the loss of around 14,000 construction jobs by 2022, with work beginning to drop away from now on.

Steven Joyce has rubbished the findings. He reports it is important to plan for the post-rebuild phase, but that's something that's already in the works.

"The rebuild will probably go on longer than everybody expects. I think we've all come to terms with that, which means there won't be a dramatic fall off. There will be a lot of work for a lot of time."

But Labour's economic development spokesperson David Clark believes poor planning is behind a damning economic report and the findings are a cause for great concern.

"The numbers of people that will have to transition as a result of the rebuild winding down is significant and it shows clearly the need for planning around where the future jobs will be."

The Canterbury Chamber of Commerce has also cast doubt over the report.
CEO Peter Townsend believes the large quanitity of job losses are not going to happen.

"We're spending $100 million a week every week on the rebuild so in terms of economic activity it's still red hot."

Peter Townsend argues even when it does taper off, it won't happen all at once.

Mr Joyce admits it is important to plan for the post-rebuild phase, but that's something that's already in the works.