Whinge or fix it: that is the question!
I wrote at the time how disappointed I was that the Federal Government only earmarked a token $26.1 million towards disaster mitigation for the Federal Budget in 2017-2018. (To get the benefit the states have to match this dollar for dollar).
At the same time Federal and State politicians are complaining about the high cost of insurance.
Rather than genuinely address the problem, the insurance industry is again being demonised with the Federal Government announcing in the same budget that $7.9 million will be spent over 4 years to enable the Australian Competition and Consumer Commission (ACCC) to monitor and report on prices, costs and profits in the northern Australia insurance market. This is despite the fact the Auditor General’s reported stating that insurance in Northern Australia has been historically under priced. I would argue that this $7.9 million would be better spent in disaster mitigation albeit a drop in the bucket of what is really needed to protect our communities and economy, not to mention individual households and businesses.
Parking one of the major issues, that being the high level of government taxation on insurance for a moment. But before I do, I did hear that President Trump is planning a trip to New South Wales. His logic is that it is the only state in the world where the leader is more incompetent than he is proving to be. At least he could get the Emergency Service Levy right! – This of course could all be “fake” news.
Anyway, moving on, let us compare Australia’s spend with say what Canada invests in their Disaster Mitigation and Adaptation Fund.
While we plan on spending $26.1 million they plan on spending $2,000 million. That is Canada is spending 76.63 times as much! As a graph, it looks like this!
Yes they are marginally bigger in land mass:
and yes they have about 1/2 as many people again
Joseph de Maistre wrote: Every nation gets the government it deserves. I disagree. Australia deserves better!
Perhaps we could reinstate 457 visas specifically for Canadian politicians to come and show us how to run a government.