Australia: Cost of floods to top other disasters

January 17, 2011

Australia: Cost of floods to top other disasters

~uMAIL AND GUARDIAN ONLINE

17 JAN 2011#www.mg.co.za/article/2011-01-17-australia-cost-of-floods-to-top-other-disasters~

But the huge rebuilding and cleanup cost could force difficult spending cuts.

The estimated cost of rebuilding the worst hit Queensland state alone stood at $9.8 billion, the Australian newspaper said on Monday, and the damage bill was rising fast as record flooding moved south to northern and western Victoria.

“It looks like this is possibly going to be, in economic terms, the largest natural disaster in our history,” he told Australian television.

“This is very big. It’s not just something which is going to occupy our time for the next few months. It will be a question of years as we go through the rebuilding.”

~uMORE_#www.mg.co.za/article/2011-01-17-australia-cost-of-floods-to-top-other-disasters~

~uMAIL AND GUARDIAN ONLINE#www.mg.co.za/article/2011-01-17-australia-cost-of-floods-to-top-other-disasters~

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