Source: Reuters
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • The Australian Federal Government pledges $1000 disaster payments for the NSW flood victims
  • From tomorrow, eligible residents in 23 local government areas (LGAs) affected by the severe storms and flooding will be able to receive the funding
  • The one-off payments will see eligible Australians receive a disaster recovery payment of $1000 for each adult and $400 for each child
  • Additionally, the recovery payment is also for employees and sole traders who experienced a loss of income due to the floods

The Australian Federal Government has pledged $1000 disaster payments for the NSW flood victims.

Prime Minster Anthony Albanese announced from tomorrow eligible residents in 23 local government areas (LGAs) affected by the severe storms and flooding will be able to receive the funding.

The one-off payments will see eligible Australians receive a disaster recovery payment of $1000 for each adult and $400 for each child who have suffered a significant loss from the floods.

The LGAs include Blue Mountains, Camden, Canterbury Bankstown, Campbelltown, Central Coast, Hawkesbury, Kiama, Lithgow, Liverpool, Northern Beaches, Penrith, Shellharbour, Shoalhaven and Wollongong.

Additionally, the recovery payment is also for employees and sole traders who experienced a loss of income due to the floods.

“It’s heartbreaking to think that for many people this is the third or fourth time in 18 months that their lives have been disrupted by a natural disaster of this magnitude,” Mr Albanese said in a release.

“Over the last few years our resilience has been tested time and time again, and many people are doing it tough.”

Mister for Emergency Management Murray Watt said the government is committed to making financial help available as “swiftly as possible.”

“We know natural disasters are distressing for those impacted, both emotionally and financially, and we are doing everything we can to get help where it’s needed fast,” he added.

More From The Market Online

Aussies warned sudden blaze at one of country’s two operating oil refineries ‘will impact’ fuel supplies

Australians have been warned a fire that’s broken out in Geelong at one of Australia’s two operational oil refineries “will have an impact”
SHRUG

ASX jumps +2.6% higher on Tuesday as Iran war rolls on. Have markets moved on?

I have a feeling I mightn’t be the only person surprised by today’s moves on the ASX, the most recent closing moves on
Sink your teeth into this bad boy

The Aussie market’s been hungry for a good news story. And today, it got one. Will it last?

Let’s start with the most important info: I am currently writing this at 12.30PM Sydney time (9.30AM for me in Perth), and so...