Risk creation, bearing and sharing on Australian floodplains

The fundamental characteristic of flood risk management in contemporary Australia is the tension between private sector land development interests and their allies who create the risk and the quite different groups, largely comprising the public sector, households and small businesses, who bear the main consequences. Flooded businesses may suffer losses, but commerce profits from the event and subsequent reconstruction. Elements of public flood risk management such as warning, emergency response and recovery attempt to reduce vulnerability. In summary: there is a very uneven distribution of risks and benefits, with the public sector bearing most of the risk, while the private sector gains most of the benefits. This may be good for the national economy, but does not provide incentives for flood risk reduction.