Friday, January 28, 2011

Australia Imposes Flood Tax to Aid Recovery

Australia imposed a temporary new tax today to help fund a multi-billion-dollar rebuilding programme after floods devastated infrastructure and ruined thousands of homes and businesses across the eastern seaboard over the past month.

Following are some questions and answers about the political and economic implications of the one-year levy for Prime Minister Julia Gillard's one-seat minority Labor government, which relies on backing from a sole Green MP and three independents to stay in power.'


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