Australian Prime Minister Julia Gillard will not increase the $1.8 billion flood levy to pay for cyclone damage in Queensland.
Gillard is expected to make further budget cuts to raise the funds instead.
The move will no doubt be welcomed as the flood levy alone will sting Australian taxpayers for 12 months. Exemptions have been made for those who earn less than $50,000 and those that received a Centrelink disaster recovery payment for flood damage. Read more of the Latest News
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