NSW Farmers has welcomed the Federal Government’s $320 million drought package.
Along with other states and the National Farmers Federation, NSW Farmers has been working for a number of years on federal drought policy.
“With the extremely harsh summer and dramatic increase in the area of NSW in drought, we put a package to the Federal Government asking for a number of measures to be implemented immediately,” NSW Farmers president Fiona Simson said.
“It is very encouraging the Federal Government has taken this message on board and made a decision and acted quickly.
“We estimate that drought is affecting 60 per cent of NSW and that this is increasing.”
NSW Farmers Rural Affairs Committee chair Sarah Thompson, said the increase in the cap for debt refinancing to $1 million at a four per cent interest rate would provide relief for farmers from interest rate burdens.
“The more generous criteria for accessing income support sounds encouraging but we are yet to see the details,” she said.
“We are seeking farm assets to be excluded as was the case under exceptional circumstances.
“These assets determine the future income generating capacity of a farm and will assist farmers recover from drought.”
