<
https://theconversation.com/natural-disasters-cost-the-nation-weve-calculated-the-income-tax-revenue-lost-in-their-wake-180505>
"Understanding the true cost of natural disasters is critical for governments
to develop policies to deal with them.
Historically, calculations have been based on toting up insurance claims and
government aid. But these don’t account for intangible social costs such as
lower mental health and higher substance abuse in the years that follow. Nor do
they account for lower economic output in affected areas.
Our latest research calculates, for the first time, the effect of a natural
disaster on income tax revenue.
For this we’ve used data from the 2010-2011 floods that ravaged Brisbane and
other towns in south-east Queensland. Our analysis covers about a third of
Queensland’s population.
Our results show income tax revenue from the population analysed declined by 5%
in the 2010/11 financial year, due to both lower incomes and higher
tax-deduction claims.
Even though we can’t extrapolate this result to all disasters – type, location
and size matter – our findings clearly show natural disasters have widespread
financial effects, and that more frequent and severe natural disasters have
clear implications for government revenue."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
