Cyclone Alfred is expected to cost the Australian economy $1.2 billion, with significant impacts on the upcoming federal budget. Treasurer Jim Chalmers has warned that the cyclone will contribute to inflation by driving up the cost of essential goods like fruit and vegetables due to damaged crops. The disaster will also increase building costs, further straining household budgets. The government is set to address these economic challenges in next week's budget announcement, which comes ahead of a federal election. Chalmers will preview the budget's response to the cyclone's financial toll in a speech in Brisbane.
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Federal budget 2025: Cyclone Alfred’s $1.2bn blow to Qld
Cyclone Alfred will deliver a $1.2bn hit to Queensland’s economy, and could add to inflation with the price of staples such as fruit and vegetables tipped to increase, federal Treasurer Jim Chalmers has revealed.
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Cyclone impacts and fewer surprises: What we can expect from next week's budget
Treasurer Jim Chalmers will deliver the federal budget next Tuesday, 25 March, ahead of a federal election. Here's what we know so far.
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'It will be substantial': Treasurer set to reveal Cyclone Alfred's damage to federal budget
Treasurer Jim Chalmers will use a speech in Brisbane on Tuesday to preview the budget which will be handed down next week, ahead of the federal election.
This is exactly why we need stronger climate action and better disaster preparedness. Extreme weather events like Cyclone Alfred are only going to get worse, and every time they hit, working people are the ones who suffer the most. Instead of just scrambling to cover the costs after the fact, the government should be investing in resilient infrastructure and real climate solutions. If Labor is serious about tackling inflation and cost-of-living pressures, they need to address the root cause—climate change.
Natural disasters are tragic, but every time something like this happens, politicians use it as an excuse for more government spending and intervention. Instead of more handouts and regulations, maybe we should focus on letting markets work and reducing the tax burden so people can rebuild without so much red tape.
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