By Peter Munro and Natalie Craig
AS IT emerged Victoria's flood toll could top $6 billion in damages and lost productivity, divisions yesterday surfaced within the state government over a proposed levy to help cover the cost.
Deputy Premier Peter Ryan said he had ''severe misgivings'' about the national levy under consideration by the federal government, putting him at odds with Premier Ted Baillieu.
Mr Baillieu seemed open to the idea on Friday, saying he would ''leave it to Julia Gillard and her government'' to decide on the introduction of a one-off levy to help pay for the clean-up and reconstruction of regions devastated by flooding in the eastern states.
''I don't think it will be helpful for us to be attempting to call the shots from Victoria,'' he said.
But Mr Ryan sided with federal Liberal leader Tony Abbott, who said a levy would be ''yet another new tax''.
''I have got severe misgivings about (the levy), we have our families struggling as it is,'' Mr Ryan said. ''I don't think they should make the first port of call the pockets of Australian families and businesses.''
The federal government should slow the rollout of the $43 billion national broadband network to pay for flood relief instead, he said. ''That would be a better means of dealing with this and I think the Australian people would understand that.''
Australia's flood crisis is far from over, with Swan Hill's 10,000 residents bracing for a major flood peak of 4.7 metres by tonight or early tomorrow. The nation's worst national disaster could cost more than $28 billion, with Victoria accounting for almost a quarter of the bill.
AMP chief economist Shane Oliver estimated the national damages bill would be $15 billion, with a further $13 billion, or 1 per cent of GDP, in lost productivity. The loss in economic growth from the floods, which have stretched across the December and March financial quarters, could tip Australia into a temporary recession, he said.
Dr Oliver said Victoria's estimated $6 billion toll comprised up to $4 billion in damage to property, equipment and infrastructure, and $2 billion in lost productivity - including disruptions to roads and transport, and loss of business for tourism operators and retailers.
The state government has released a preliminary estimate of $1.5 billion to $2 billion for agricultural production losses and damage to farm infrastructure. But Agriculture and Water Minister Peter Walsh said the final cost of the floods could take weeks to determine.
''Some areas are yet to feel the impact of the flood, some areas are in flood and in some areas the clean up has started. Until the event moves through the river system it is very hard to quantify,'' he said.
The bill to fix damaged roads and rail infrastructure would run to hundreds of millions of dollars.