Category Archives: Cyclones

Debbie hits Qld Budget, but QIC may help out Government by investing in Cross River Rail

Posted on April 6, 2017 by Gene Tunny

Cyclone Debbie and the floods that followed have tragically resulted in the loss of at least five lives and have done billions of dollars’ worth of damage in Queensland and NSW. And through lower coal royalties (largely associated with an … Continue reading →

Posted in Budget, Cyclones, Transport, Uncategorized | Tagged , , , , , , , | 2 Comments

Qld economy should be resilient to Cyclone Debbie

Posted on March 31, 2017 by Gene Tunny

While we are still to learn the full extent of the damage and economic disruption of Cyclone Debbie, we should be reasonably confident that any adverse economic impact, such as through lost crops, tourism, or disruption to coal mining and … Continue reading →

Posted in Cyclones, Macroeconomy, North Queensland, Uncategorized | Tagged , , , , , , , , , , , | 4 Comments

PC natural disaster funding recommendations could cost Qld over a billion

Posted on October 2, 2014 by Gene Tunny

The Productivity Commission has injected a huge dose of economic rationalism into its recent draft report on natural disaster funding, which contains a recommendation to cut future Commonwealth support from 75% to 50% of the repair bill – a recommendation … Continue reading →

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Economic impact of natural disasters

Posted on April 14, 2014 by Gene Tunny

Having grown up in Townsville, I know very well that North Queenslanders are a resilient bunch and will recover quickly from the impacts of Cyclone Ita, although, as we’ve seen, the immediate impacts on some families and communities have been … Continue reading →

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Disasters have had huge budgetary impacts

Posted on June 4, 2013 by Gene Tunny

The Queensland State Budget is out and it contains a clear analysis of the huge budgetary impact of natural disasters, particularly: the large expenditure associated with disasters (e.g. around $2.5 billion to deal with ex-Tropical Cyclone Oswald’s impacts); and the … Continue reading →

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Growing list of impacts and costs of big wet

Posted on January 30, 2013 by Gene Tunny

One economic impact I failed to explicitly mention in my post yesterday on the economic impact of the big wet is the impact on the sugarcane crop, which may be very signficant, as reported in the Courier-Mail this morning: Yesterday, … Continue reading →

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Economic impact of the Big Wet in Queensland

Posted on January 29, 2013 by Gene Tunny

The heavy rain, winds and floods that have resulted from ex-tropical cyclone Oswald have caused a large amount of human suffering and will have an adverse short-term impact on Queensland’s economy. I expect the adverse short-term impacts will arise mainly as … Continue reading →

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Insurance Council admits ignorance on strata insurance hikes and funds JCU research

Posted on November 25, 2012 by Gene Tunny

In a post last month, I observed that the Australian Government Actuary found insurers were struggling to understand the risks they face from natural disasters such as cyclones, and hence it is possible that huge increases in insurance premiums for … Continue reading →

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Govt Actuary finds insurers struggling to understand catastrophe risk

Posted on October 21, 2012 by Gene Tunny

North Queensland apartment owners will have to put up with the massive insurance premium increases (e.g. more than 300%) they have experienced in recent years after an Australian Government Actuary report concluded the premium increases most likely reflected the market … Continue reading →

Posted in Cairns, Climate change, Cyclones, North Queensland | Tagged , , , , | 3 Comments

Whole world struggling to manage disaster risk

Posted on October 8, 2012 by Gene Tunny

I was pleased to learn that the World Bank and Government of Japan are hosting the Sendai Dialogue tomorrow and Wednesday this week to discuss how the world better manages disaster risk. This is a critical issue because, assuming no … Continue reading →

Posted in Cairns, Cyclones, Floods, Housing, North Queensland | Tagged , , , , , , | 2 Comments