MP wants local councils to set up catastrophe fund

The country’s municipalities should work together to form a catastrophe fund which can help finance repairs to damage caused by storms.

So says MP and former Sandur mayor Brandur Sandoy after this weekend’s heavy storms wreaked havoc across the country.

Particularly hard hit this time were the villages of Hvalba, Porkeri and Skopun, and estimates say that repairing the damage will cost millions.

Stabilising effect

This has prompted Brandur Sandoy to suggest a new way to help local councils struggling after heavy storms.

“Harbours and breakwaters are often hit hardest in storms. They are not covered by insurance, so it can be a big blow to the local council finances when these damages occur,” he says.

“Setting up a fund where all municipalities put aside a certain percentage of their tax revenue would have a stabilising effect and could be a big help, not least for the smaller places.”

Translated by prosa.fo