3 years ago
FLOOD AND FIRE VICTIMS
Murray Watt MP
New figures show the Morrison Government has earned more in interest than it’s spent on disaster recovery and preparation from its two year old, $4 billion natural disaster fund.
During Senate Estimates last week, the Department of Home Affairs confirmed the Government has not selected or funded a single disaster recovery or mitigation project under the $4 billion Emergency Response Fund (ERF) since it was announced in April 2019.
Now it’s been revealed through the Department’s Investment Performance and Financials the Government has earned at least $370 million dollars in interest while the money has been sitting untouched in the bank.
The fund provides $200 million per financial year to be spent nationally on natural disaster recovery and mitigation projects like flood levees, evacuation centres and fire breaks.
That means the Morrison Government could have invested $400 million in recovery and mitigation works over the past two years, but it has failed to spend a cent.
We now know the fund has earned nearly as much in interest as should have been spent across the last two disaster seasons.
This will be cold comfort to Australians in disaster-hit regions who are still waiting on the Government to deliver the prevention and recovery support they were promised.
It’s just another example of Scott Morrison being there for an announcement, but he never delivers.
Natural disaster funding cannot be used to prop up the Morrison Government’s budget bottom line.
The Prime Minister must explain why he has failed to spend a cent of the $4 billion fund, and why he has left flood and fire victims behind.
During Senate Estimates last week, the Department of Home Affairs confirmed the Government has not selected or funded a single disaster recovery or mitigation project under the $4 billion Emergency Response Fund (ERF) since it was announced in April 2019.
Now it’s been revealed through the Department’s Investment Performance and Financials the Government has earned at least $370 million dollars in interest while the money has been sitting untouched in the bank.
The fund provides $200 million per financial year to be spent nationally on natural disaster recovery and mitigation projects like flood levees, evacuation centres and fire breaks.
That means the Morrison Government could have invested $400 million in recovery and mitigation works over the past two years, but it has failed to spend a cent.
We now know the fund has earned nearly as much in interest as should have been spent across the last two disaster seasons.
This will be cold comfort to Australians in disaster-hit regions who are still waiting on the Government to deliver the prevention and recovery support they were promised.
It’s just another example of Scott Morrison being there for an announcement, but he never delivers.
Natural disaster funding cannot be used to prop up the Morrison Government’s budget bottom line.
The Prime Minister must explain why he has failed to spend a cent of the $4 billion fund, and why he has left flood and fire victims behind.