Australians face flood recovery tax

Australia denounced a inundate taxation upon aloft earners yesterday as Prime Minister Julia Gillard warned a torrent would trim 0.5 points off GDP in mercantile 2010 as well as price Aus$5.6 billion for recovery.

Gillard pronounced a jot down inundation, which crippled a mining as well as tillage state of Queensland this month, “may infer to be a many costly healthy mess a republic has ever seen”, with spark mines to humor for months to come as well as farmers confronting “seasons” of difficulty.

“Treasury’s rough estimates have been which GDP expansion in this monetary year will be about half a commission indicate reduction due to a floods,” she said.

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