1. Most Discussed
  2. Gainers & Losers

Australia faces $4b child abuse bill

  1. RichardNixon

    2,054 Posts.
    Not a word from Hot Copper's resident hicks and bigots about this even though some 65,000 people entitled to compensation for child abuse. Disgusting


    Australia 'faces A$4bn' child-abuse compensation bill

    Australia may need to pay A$4.4bn ($3.4bn; £2.3bn) as compensation to the victims of child abuse, officials say.
    A consultation paper, released by Australia's Royal Commission into child sexual abuse, estimated 65,000 people may be entitled to compensation.

    The commission is investigating how schools, churches and government bodies responded to abuse claims and cases.
    It has also called for a national system for checking the history of people who seek to work with children.
    The commission was formed in April 2013, following pressure from lawmakers amid police claims that the Roman Catholic Church had concealed evidence of paedophile priests.

    There were revelations that child abusers were being moved from place to place instead of having their crimes reported and investigated. There were also accusations that adults had failed to stop further acts of abuse.
    On Friday, the commission's chair, Justice Peter McClellan, called for responses to the consultation paper so that a final report could be published in the middle of this year.

    "It is necessary for me to stress that the commissioners do not presently have firm views about any issue in the consultation paper," said Mr McClellan.

    Actuaries estimated 65,000 victims may be entitled to some level of redress, with an average payment of A$65,000.
    "Based on these assumptions, the total cost of redress nationally would be in the order of A$4.378bn," Justice McClellan said.
    In the two years since the commission was appointed, its commissioners have spoken to more than 2,850 survivors of child abuse in private sessions. It has also completed 21 public hearings and expects to hold another 17 hearings this year.

    Justice McClellan said the commissioners were developing a picture of a period when thousands of children were abused in a "high-risk environment", created by "prevailing social attitudes to children and unquestioning respect for the authority of institutions by adults".

    However, he acknowledged that the abuse of children "is not confined in time - it is happening today".
    Justice McClellan said there had long been a need for a national framework to check the backgrounds of people working with children.

    "Its absence is a blight upon the communities' efforts to provide effectively for the protection of children," he said.
    The consultation paper said the compensation scheme would be funded by contributions from both governments and institutions.

    If the state was a funder of last resort, a contribution of almost A$2bn would be required from various government authorities, and A$2.4bn would come from private institutions.

    The commission expects to provide a final report by December 2017.

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.