UNSPENT DISASTER FUND

Shocking new data has revealed the Morrison Government will collect more than $1 billion in interest on a fund that has not spent a cent to help disaster victims.

During Senate Estimates this week, department officials confirmed that the Morrison Government expects to earn $1.2 billion in interest from its Emergency Response Fund (ERF) over the five years to June 2025.

Officials also confirmed that not one project has been funded from the ERF, since it was announced in April 2019.

This means this fund has earned more in bank interest than doing what the Government promised - protecting and assisting Australians with natural disasters.

In fact, it’s spending more on management fees than it has on disaster-prone regions.

Meanwhile the Morrison Government is not projecting any new spending from the fund across the forward estimates, even for mitigation projects which could keep communities safe.

The ERF was announced and operational in 2019 – with Labor’s support - to fund up to $200 million in natural disaster recovery and mitigation per financial year.

But since the announcement was made, not a single flood levee, cyclone shelter, or fire break has been built and not a single dollar has been given to disaster victims from this fund. 

Natural disaster funds should not be used as a cash cow to prop up a Government swimming in debt.

It is unconscionable that communities have been left at risk while money is available to keep them safe.

Not even disaster victims are safe from Scott Morrison announcing funds, but not delivering.