Insurer RACQ, along with the Insurance Council of Australia (ICA), has expressed disappointment over the lack of funding allocated to flood mitigation for North Queensland in the federal budget.
According to ICA, the government had pledged $3.9 billion for a new natural disaster Emergency Response Fund – $232 million will go to helping flood affected North Queenslanders and $8 billion in additional spending will be spent on infrastructure. No funds had been allocated, however, to protect against floods like those seen in Townsville in February.
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