The federal treasurer has dismissed a think tank's idea of slapping a levy on Australia's coal and gas industry companies to help pay for the skyrocketing costs of climate-change driven disasters such as bushfires.
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As communities across the nation continue to battle killer blazes on Friday, the Australia Institute blamed sections of heavy industry for the increased frequency and severity of disasters.
"A one dollar levy on core oil and gas produced in Australia could raise $1.5 billion annually - essential income for a national climate disaster fund," the institute's Richie Merzian told reporters.
"If you profit from supplying the cause, you should help cover the cost of the impact."
But Treasurer Josh Frydenberg isn't convinced.
"The federal government will not be introducing a disaster levy," he said in a statement to AAP.
"We will continue to work with the states to get the necessary financial support to those communities impacted by the fires."
The Insurance Council of Australia has estimated property damage stemming from bushfire claims since September across NSW, Victoria, South Australia and Queensland totals about $300 million.
But the Australia Institute said the cost to taxpayers would prove greater.
"(Victoria's) Black Saturday bushfires cost Australia $7 billion and the current bushfires are already six times the size with no end in sight," Mr Merzian said.
"Natural disasters cost Australia $13 billion per year and that will only increase with the increase in frequency and severity of these climate disasters."
The federal government's National Security Committee is scheduled to meet on Monday to discuss the bushfire crisis.
Australian Associated Press
