The disaster fund must be increased to one billion euros from the existing budget – “at the expense of the federal government’s share of the revenue”.
After the heavy storms of last weekend, the calls among the population for an increase in the disaster fund became louder. Heavy storms and floods have caused enormous damage in several regions. Some people have lost everything in the floods, and the affected people are now demanding rapid and sufficient support to get the reconstruction going.
Given the extent of the damage and growing concerns about future extreme weather events, the government has now decided to significantly increase the disaster fund.
Increasing pressure from citizens, experts and aid organisations makes it clear that the fund’s previous resources are no longer sufficient given the increasing frequency and intensity of natural disasters.
The additional funding is intended to ensure that affected communities and households receive support quickly and without bureaucracy. This measure is not only a response to the current storms, but also a necessary step to be better prepared for such disasters in the future.
There are tax reductions and exemptions for those affected by disasters. As an extraordinary expense, all costs related to eliminating the direct consequences of a disaster are in principle fully deductible.
This applies to the extent that this damage is not covered by insurance or public funds (catastrophe funds). Costs to prevent future disasters are not deductible.
Further information can be found HERE.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
