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Inquiry launched into Australia’s natural disaster funding arrangements

The Australian government has announced that the Productivity Commission will conduct an inquiry into natural disaster funding arrangements in the country.

The Australian Government has established this inquiry to analyse the full scope of current Commonwealth and state expenditure on natural disaster mitigation and recovery.
The Productivity Commission will identify options for achieving an effective and sustainable balance between natural disaster recovery and mitigation funding, to help communities better prepare for disasters.

The Productivity Commission's terms of reference provide for consideration of:

  • The sustainability and effectiveness of current arrangements for funding natural disaster mitigation, resilience and recovery initiatives;
  • Risk management measures available to, and being taken by, asset owners;
  • Future options to most effectively fund natural disaster recovery and mitigation;
  • Incentives to support cost-effective decision making; and
  • Mechanisms and models to prioritise mitigation opportunities and evaluate the costs and benefits of a range of mitigation options.

The Productivity Commission will soon be seeking submissions to the inquiry and will report on its draft findings in September 2014.

http://www.pc.gov.au/projects/inquiry/disaster-funding

•Date: 30th April 2014 • Australia •Type: Article • Topic: Disaster recovery

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