Drought-hit communities and farmers in Mallee will get a significant boost from the Coalition Government’s $709 million drought relief package.
The latest investment in our drought communities was announced by the Prime Minister in Canberra on Thursday.
Member for Mallee Anne Webster said the package was designed to support Mallee farmers and communities.
“This will see money flow right through the local economy,” Dr Webster said.
“Farmers in Mallee can access loans of up to $2 million with no interest or repayments for the first two years. These loans can now be used for fodder, stock transport, agistment, farm improvements, employees wages and to refinance current debt. These loans are interest free for the first two years, with interest only payments at a minimal rate after that.
Fodder and agistment were added to these loans as a direct response to requests made by Millewa farmers to Minister David Littleproud, when Dr Webster and he sat down with them on his recent visit, explaining to him their needs and the desire to see fodder and agistment added to the RIC loans.
“The addition of fodder and agistment means that farmers won’t have to sell all of their stock. It will help keep breeding herds on farm or give farmers the choice to agist herds further south, promoting a quicker recovery once this drought breaks.” Dr Webster said.
“These loans will potentially save farmers who refinance, thousands of dollars and help them get back on their feet sooner.
“For the first time small businesses who are dependent on agriculture will also be able to access interest-free loans of up to $500,000.
These loans will have an interest free period for two years, followed by interest only for years 3 to 5.
‘Shearing contractors, harvesters and livestock transport and mechanical service providers have seen their turnover hit, and in many cases struggle to survive’
“This will protect jobs in Mallee and make sure we can bounce back once the drought breaks.
“Another big win for local producers is the 100GL of water will be made available from South Australia to grow feed for farm stock in Victoria and other locations in the MDB.
“This water could allow for the production of up to 120,000 tonnes of fodder which could be a big help to Mallee farmers, especially those around Kerang and Cohuna.
“Nationally, another $378 million will also go into drought-affected community projects and an extra $138.9 million into our Roads to Recovery initiative.
“There is also $10 million allocated to schools to make concessional fees available to families facing drought, allowing children to stay in school and removing this additional financial stress. A further $5 million childcare fund will assist childcare centres in drought affected communities, to keep childcare available to those who are doing it tough.
“Communities across Australia have been working hard through this drought, and this package provides a bit more hope and practical help for everyone to get through it.
“It helps to protect our jobs and economy so when the drought breaks we will bounce back faster.”