The Disaster Ready Fund (DRF) is a fund established in Australia by the
Morrison government
The Morrison government was the Australian Government, federal executive government of Australia, led by Prime Minister of Australia, Prime Minister Scott Morrison of the Liberal Party of Australia, between 2018 and 2022. The Morrison governmen ...
.
It is managed by the
Future Fund
The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for public servants that wil ...
, with interest generated going to medical research. In 2022, the DRF had a capitalisation of .
Purpose
The purpose of the fund is to build flood levees, sea walls and fire breaks, in order to reduce the impacts of disasters.
Establishment
The fund was established on 12 December 2019 as the Emergency Response Fund, and was re-established on 1 March 2023 as the Disaster Ready Fund. The Emergency Response Fund had been replaced due to a lack of responsiveness.
Application
Projects funded by the DRF have included for the Disaster Relief Australia, who employ a significant number of veterans, and reduce the burden on the Australian Defence Force.
See also
*
Australian federal budget
An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal pol ...
References
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External links
Disaster Ready Fund Act 2019 2019 establishments in Australia
Future Fund
Drought in Australia
Morrison government
Albanese government