More than $1 billion of losses in flooded Queensland
Thursday, January 24, 2008/
More than two-thirds of Queensland is now drought-declared and the damage bill is expected to top $1 billion.
Yesterday Queensland Treasurer Andrew Fraser said the damage to public infrastructure alone would be at least $100 million.
The insurance industry is saying it is too early to evaluate the damage bill for the state’s floods.
The full scale of the damage to agricultural and mining production, roads and bridges, will not be known for weeks until the waters finally subside.
Hundreds of cattle are stranded on higher ground and will die within the next few days unless food is airlifted.
Some Queenslanders are still waiting for flooding. Rockhampton is bracing for flood waters to arrive on Monday.