FEDERAL Member for Nicholls Sam Birrell had said that prolonged dry conditions across northern Victoria require the Albanese Government to act urgently ahead of any formal declaration of drought.
“Farmers are struggling, their stock and crops and struggling, they need assistance now,” he said.
“In 2020, the Coalition introduced a two-year interest free period of Regional Investment Corporation (RIC) loans up to $2 million for farmers experiencing hardship, this can and should be done again now to give primary producers some financial breathing space.”
Mr Birrell welcome the government’s announcement of a $2M for the Rural Financial Counselling Service, but said more can be done.
“The stress and strain on farming families grows the drier it gets, and we know from bitter experience the mental health toll it takes,” he said.
“A zero per cent interest rate for new and existing drought loans and to refinance existing debt from commercial banks is a practical measure to improve cash flow and give farmers time to restock and replant.”
“Nationals Leader David Littleproud has written to Agriculture Minister Julie Collins requesting finance support and on behalf of farmers in my electorate, I hope the Minister acts sooner rather than later.”
