Australia govt weighs levy for flood damage
CANBERRA – Australia’s government is reportedly considering a taxpayer levy to help pay for massive flood rebuilding, while preserving the budget’s path back to surplus in 2012-13, as one major bank warned on Tuesday the damage bill could reach A$20 billion. A levy could take the form of an addition to the 1.5 percent Medicare levy backing public health and hospitals, and which raises A$10 billion ($9.9 billion) a year, the Australian newspaper said, without naming sources. Flooding blamed on rains triggered by a La Nina weather pattern in the Pacific has devastated huge areas of Australia’s eastern seaboard, flooded parts of Brisbane, the nation’s third-largest…
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Australia govt weighs levy for flood damage
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on January 18, 2011. Filed under
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