Newly elected Queensland Premier Campbell Newman has wasted no time settling into the job, meeting with senior bureaucrats to outline his priorities, including a jobless target of just 4%.
Analysts say the financial impact of Cyclone Yasi on an already embattled Queensland will be severe and long lasting, with insurance premiums set to be immediately affected.
The Victorian floods are expected to cost the state economy millions of dollars, with more than 3,000 Victorians forced to flee their homes as floodwaters continue to rise. The towns of Rochester, Serpentine, Horsham, Charlton and Glenorchy are expected to be some of the hardest hit.
Business owners in Brisbane are beginning the enormous clean up operation as a result of the floodwaters which saw the Brisbane River break its banks.
Small businesses in flood-affected areas of Queensland will receive government grants of up to $25,000 to be used for clean up and recovery efforts, as the state battles its worst flooding in almost a century.