Federal Budget: The Insurance Industry Reacts

The government’s 2022-23 Federal Budget, including its cheaper fuel and cost of living payments, has received a mixed response from the Australian public and expert observers. Treasurer Josh Frydenberg officially announced the Budget on Tuesday night.

Taurus Client, Daniel Sandaver, Managing Director of Brisbane-based digital services and software company Codafication, sees the Budget as “a deliberate cash injection to those who are most in need.”

Given the ongoing catastrophic floods, Sandaver welcomed the Budget’s investment into early warning networks and drought resilience programs. However, Sandaver said there needs to be greater expansion of the strata insurance and resilience programs into disaster prone areas.

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