CANBERRA (Reuters) - Australia announced a temporary new tax on Thursday to raise about A$1.8 billion ($1.79 billion)to help rebuild infrastructure and revive businesses destroyed by floods that swept across the country's eastern seaboard over the past month.
The floods shut coal mines, ruined crops, washed away roads and rail lines, damaged bridges and destroyed thousands of buildings across three major states, killing 35 people and causing damage estimated at up to $10 billion or more.
Prime Minister Julia Gillard said the government would also curb spending on other areas to help fund up to A$5.6 billion in flood-recovery spending from Canberra. The governments of flood-affected states will also contribute flood recovery funds.
(Reporting by James Grubel; Editing by Ed Davies)
