The man in charge of Queensland’s balance sheet has put a figure on the cost of the Queensland floods in an interview with 4BC Drive’s Scott Emerson.

Treasurer Cameron Dick said “the cost is two-fold.”

“The direct cost to this year’s budget will be $2-$2.5 billion; of that, that’ll include $1b to repair and improve, where we can, state and local infrastructure,” Mr Dick said.

“And then we think there’ll be about a $1b hit to our economy generally, so that’s about … 1% of economic activity.”

Mr Dick said the bill was less than 2011 when Cyclone Yasi wreaked havoc, but added a warning.

“This is early days, Scott. I think if anything that number will go up, it won’t go down.”

Press PLAY to hear the Scott Emerson’s full interview with Cameron Dick