The news we have all been waiting for!. Stuff.co.nz report that The Hobbit shoot is going to stay in New Zealand. The news was announced by Prime Minister John Key who also said that new labour laws would be introduced to Parliament tomorrow to support this. The Hobbit will also get a $15 million tax rebate. Mr Key also said that the movie will premiere in New Zealand.

You can watch a video of John Key announcing the news at nzherald.co.uk.

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