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By APD writer Easwaran
Australia has suffered over $2 billion in losses so far as a result of the devastating bushfires, local media reported.
Economists have estimated the direct costs to fire-affected regions from lost tourism, agricultural and retail income at between $1.1 billion to $1.9 billion this financial year.
Meanwhile, the Australian Government, on Wednesday, said that it will establish a new agency with an initial $2 billion for a national bushfire recovery fund to coordinate a national response to rebuild communities and livelihoods after the devastating fire-front has passed.
Australian Prime Minister Scott Morrison said the National Bushfire Recovery Agency would be funded with an initial $2 billion to ensure the families, farmers and business owners hit by these unprecedented bushfires would get the support they needed as they recover.
“It’s a long road ahead and we will be with these communities every step of the way as they rebuild,” the Prime Minister said.
“While the immediate focus for our emergency services and the Australian Defence Force is keeping people safe and defending against the fires hitting so many areas, we also need to be ready to hit the ground in communities where the fire-front has passed to help them rebuild.
“The Agency will ensure the work of state and territory governments is being supported and act as a ‘one stop shop’ central team to coordinate the response. We will do whatever it takes.”
Treasurer Josh Frydenberg said the initial $2 billion investment for the Agency and its recovery work would be on top of the existing disaster recovery payments and allowances which have so far seen more than $100 million worth of assistance flowing through to families, small businesses and farmers.
“An unprecedented joint effort with the states, territories and local government will be required to assist with the recovery, rebuilding and future resilience of these communities,” the Treasurer said.
“Our initial $2 billion investment help to get communities back on their feet by assisting with restocking and replenishing, rebuilding roads and telecommunications infrastructure, mental health support, attracting tourists back to the regions and helping restore the local environment and impacted wildlife.”
(ASIA PACIFIC DAILY)
