Extreme weather may cost Federal Government $1-billion

Posted by on Thursday, February 25, 2016

Parliamentary Budget Officer Jean-Denis Fr√©chette says that the federal government can expect to pay nearly a billion dollars a year in disaster relief for extreme weather events. 

The reason is supposedly due to the increasing frequency and intensity of hurricanes, winter storms and especially floods.

The government has only been budgeting $100-million at year. 

The Insurance Bureau of Canada says that the The Disaster Financial Assistance Arrangements will have to pay an average of $229-million a year for hurricanes, convective storms and winter storms and an additional $673-million annually because of floods. 

In the event of a large-scale natural disaster, the Government of Canada provides financial assistance to provincial and territorial governments through the Disaster Financial Assistance Arrangements (DFAA), administered by Public Safety Canada.

The Team

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