Deaths, injuries and other consequences of road accidents cost the economy almost $30 billion a year, according to the Australian Automobile Association (AAA).

The public purse also pays a heavy price, losing $3.7 billion a year through missed tax revenue, income support, and health and emergency services costs, a study commissioned by the association shows.

“Road trauma has long-term implications on government budgets,” the AAA says.

“This is because road trauma impacts workforce participation and earnings, which subsequently affects taxation revenue and income support expenditure outlays.”

Road trauma deaths, and health and wellbeing payments cost the economy almost $9.3 billion in 2015, by far the biggest cost.

Vehicle damage was second at $4.8 billion, followed by disability care ($2 billion). Insurance administration placed sixth at $1.12 billion.

AAA CEO Michael Bradley has urged the Government to review its road safety policies.

“The social cost of road deaths is both obvious and immeasurable,” he said. “However, the economic implications of Australia’s road safety crisis are not.”

"The numbers… clearly demonstrate our current approach is neither effective nor proportionate, and that Australia needs an urgent response from our national Government in the form of greater leadership and greater funding.”