Disaster mitigation economic opportunities for Australia

The author has just experienced a Northern NSW flood.

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This review considers the economic opportunities related to Australian disaster management.

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A series of economic opportunities are outlined below in relation to disasters in Australia.

1. Reform disaster funding arrangements

The first economic opportunity is for government to reform natural disaster funding arrangements, which are inefficient, inequitable, and unsustainable.

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2. Capture significant budget savings

Targeted mitigation spending can yield large budgetary savings.

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3. Optimise mitigation for efficiency

Disaster mitigation should be approached thoroughly and nationally.

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