PM Plans $10 Billion Insurance Premium Subsidy for Northern Australia
People in northern Australia will soon have cheaper property insurance as the federal government announced a subsidy plan for the region from next year.
A reinsurance pool backed by a $10 billion government guarantee will be in place from July 1, 2022, to relieve the high premium cost burden on homes and businesses due to frequent natural disasters like cyclone and floods in recent years.
“This would reduce insurance premiums across Northern Australia by over $1.5 billion for households, strata, and small businesses over 10 years,” the federal government announced in a joint media release.
It is expected that over 500,000 residential, strata, and small business property insurance policies are eligible to be covered by the reinsurance pool.
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Subscriber only Queenslanders face cuts to vital infrastructure including community pools, libraries and waste services as long-term financial pressures force councils to take drastic action to balance their budgets. Councils say reduced federal assistance grants over years and the COVID-19 crisis has cruelled the finances of many regions. North Burnett Mayor Rachel Chambers warned her council faced being $5.5 million in deficit even if proposed cuts were made. These proposals include reducing swimming pool, library, administration and waste services, she said. North Burnett Mayor Rachel Chambers Cr Chambers said for the community, this meant potentially deteriorating levels of service and staff losses.
Former council CEO loses lawsuit against ex-mayor A former council boss has lost her lawsuit against an ex-mayor and councillors over claims she was sacked for complaining to corruption officials.
Politics by Kelmeny Fraser
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Subscriber only A former whistleblowing Logan council chief executive has lost her lawsuit against ex-mayor Luke Smith and seven councillors over claims she was sacked for complaining to corruption officials. The weeks old decision, which can only be revealed today after the lifting of a suppression order, has fuelled calls by the state s peak council lobby group for an inquiry into the Crime and Corruption Commission over its decision to criminally charge the eight former politicians over former chief executive officer Sharon Kelsey s dismissal.
A significant one-third of Queensland councils are at high risk of not being financially sustainable, as they battle low cash flows and extra costs amid the COVID-19 crisis. The worrying finding has been made in a new report by Auditor-General Brendan Worrall, who has revealed that 70 per cent of the state s local governments spent more than they earned in 2020. Mr Worrall said the deteriorating condition of the councils finances was not unexpected , pointing to the measures they took to support their communities during the pandemic as well as the impact travel restrictions and lockdowns had on revenues. And they took on more expenses, by bringing forward capital projects, maintaining border controls and being lumped with increased cleaning costs for council and public facilities.
One-third of QLD councils on financial brink qt.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qt.com.au Daily Mail and Mail on Sunday newspapers.