Flood levy approved
MOST working Australians will have to help pay for recovery efforts in Queensland, after the federal government’s $ 1.8 billion floods levy passed parliament.
The levy, to help fund reconstruction in areas devastated by the summer floods and cyclone Yasi, passed the Senate yesterday evening with the support of key crossbenchers.
Labor struck a deal with independent senator Nick Xenophon to impose the measure on Australians earning more than $ 50,000 earlier this month. People directly affected by the natural disasters and low-income earners have been spared the levy, which will cost about $ 1 a week for someone on an annual income of $ 60,000.