In the aftermath of devastating floods and cyclones, Queenslanders everywhere ponder about what is to come next. Many media outlets and newspaper headlines have described the inevitable costs associated with rebuilding the State and praised it as an economic launch mechanism, which will see our state re-emerge stronger than before.
I agree that any injection of externally sourced funds (e.g. insurers that are largely spread out around the globe) are going to be a fantastic source of stimulus, however, the Australian and Queensland government is going to be footing a significant portion of the bill with funds that could have been spent elsewhere.
It is worthwhile reviewing this clip describing the ‘broken window fallacy’.
Good luck Queensland Conveyancing readers.