Is the Queensland floods the start of the end for Australia’s banks?
The first floods of the year have hit Queensland, as water levels drop in the state’s rivers.
In the wake of the catastrophic floods in 2016, the Queensland Government has made significant progress in restoring some of the riverbanks, including a $10 million plan to rebuild a $1 billion riverbank in the Brisbane River.
“The flood was not the end of Queensland’s riverbank restoration,” the Government’s Chief River Officer, Tim Coyle, told The Australian Financial Press.
“This was the beginning of a process of rebuilding the riverbank and it is a big step forward.”
The floodwaters have also been caused by heavy rain in the past couple of days, causing heavy downpours in parts of the state.
“I’m really disappointed in the Government.
The Government has got to stop with the rhetoric,” Mr Coyle said.
We’re in a rebuilding phase.” “
It’s not going to solve anything.
We’re in a rebuilding phase.”
Mr Collyer said the Government had done “quite a good job” of restoring some rivers in the last two years, including the Brisbane and Waimate rivers.
The $1bn riverbank plan was funded through a $300 million Federal Government flood relief loan, with the Government also providing a $30 million loan to help pay for other rehabilitation projects.
But Mr Colling said the $1.3 billion plan to build a $4 billion flood barrier around the Brisbane Valley was also in line with the Federal Government’s vision of flood-proofing the state to protect Queenslanders and their property from future floods.
“A lot of people in Queensland have been impacted by the floods,” Mr Cloyle said of the flood situation.
“If we didn’t have this plan to protect our property, we wouldn’t have been able to get out of this situation.”
The Government’s flood plan also included a $400 million plan for “a comprehensive and sustainable restoration project”.
The flood risk in the river is “significant”, Mr Coylesa said, but said that while the project would have to be completed within the next two years or the river would be breached, he did not think it was in danger.
“There are a lot of things that need to be done in terms of the reconstruction, including in the rehabilitation of the banks and the restoration of the levees,” Mr Cople said.
The Queensland Government also said that it would be looking to “increase” its funding for river restoration projects in the next few years, with its aim to have the river bank restored in time for the 2020 election.