Federal budget estimates growth will lose about quarter of a percentage point during the current quarter, or about $5bn in economic activity, because of recent flooding
Federal budget 2022 LIVE updates: Australia government budget announcement and speech – latest newsExplore all of our 2022 Australia federal budget coverageGet our morning and afternoon news emails, free app or daily news podcast
The increasing frequency of natural disasters will take its toll on the economy in the near term and force the government to fork out hundreds of millions of dollars to build resilience for more to come.
As Australia endures its third La Niña event in as many years, the budget estimates growth will lose about quarter of a percentage point during the current quarter, or about $5bn in economic activity, because of the recent flooding across the country’s south-east.
Continue reading…Federal budget estimates growth will lose about quarter of a percentage point during the current quarter, or about $5bn in economic activity, because of recent floodingFederal budget 2022 LIVE updates: Australia government budget announcement and speech – latest newsExplore all of our 2022 Australia federal budget coverageGet our morning and afternoon news emails, free app or daily news podcastThe increasing frequency of natural disasters will take its toll on the economy in the near term and force the government to fork out hundreds of millions of dollars to build resilience for more to come.As Australia endures its third La Niña event in as many years, the budget estimates growth will lose about quarter of a percentage point during the current quarter, or about $5bn in economic activity, because of the recent flooding across the country’s south-east. Continue reading…