“Cascading” natural disasters to set taxpayers back by billions

natural disasters

Source: Unsplash/ Rob Mulder

Farmers will be on the frontline of climate change as droughts worsen and become more frequent, the treasurer is warning.

Crop yields could decrease 4% by 2063 and cost the nation about $1.8 billion in GDP, Jim Chalmers says.

“All this means that the challenge of climate is global in scope but regional in impact,” Dr Chalmers will tell the national drought forum in Rockhampton on Tuesday.

“We know that our farmers are on the frontline but you are resilient and innovative, and the government is ready to support you.”

The pressures of a changing climate and “constant, cascading and cumulative” natural disasters will set the taxpayer back billions over coming decades, the treasurer says.

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