Interest-free loans needed for agriculture amid fuel crisis
- Written by: Times Media
The Albanese Government should release the details of its plan to provide interest-free loans to businesses impacted by the fuel crisis and add the agricultural sector to the program.
Shadow Minister for Industry and Sovereign Capability Andrew Hastie said the Labor Government should come clean on whether farmers were included in the Economic Resilience Program, amid growing concerns one of the hardest-hit sectors has been left out.
“Labor’s interest-free loan package is meant to support businesses, but it's still unclear if farmers, dealing with skyrocketing fuel and fertiliser costs, are included,” Mr Hastie said.
"Australian farmers are already doing it tough, and it’s only getting worse. They are paying more to run their machinery and more for the inputs that grow our food, but unlike others in the supply chain they have no way to pass these costs on. They just have to absorb it.
“They carry that burden, while others can adjust their prices or add a margin. It’s not a level playing field. If we don’t stand behind our farmers, we put our food supply at risk, and that leaves Australian families exposed.”
Mr Hastie is calling on the Government to confirm whether farmers were covered by the loan scheme and, if not, to urgently extend it to include them.
“At a time when Australia’s food producers are under pressure, leaving them out of a crisis support program is a serious oversight,” Mr Hastie said.
“If the Government is serious about backing Australian industry and protecting supply, it needs to act quickly and ensure farmers are included.”
Shadow Minister for Agriculture, Fisheries and Forestry Darren Chester said the government had failed to provide any details on the program and the eligibility criteria.
“There’s a crisis now and we have the government floating thought bubbles without any details on how the program will be implemented and whether one of the most adversely impacted industries will have access to interest-free loans,” Mr Chester said.
“As it stands right now, it appears that farmers and agri-businesses have missed out completely under this scheme.
“Key industry groups are already warning that further disruptions to fuel and fertiliser supplies could lead to shortages and higher prices for Australian families and the agricultural sector can’t keep absorbing all the extra costs.
“Labor should be doing everything it can to ensure our agriculture industry is protected from more shocks during this crisis. This is about our nation’s food security and our ability to feed Australian families and maintain our exports to other nations which rely on our food.
“The government also needs to be honest and transparent with Australians about any domestic supply chain vulnerabilities and clearly outline how it will prioritise fuel for essential industries like agriculture if the situation deteriorates.”
Mr Chester said the increasingly uncertain global environment had strengthened the case to fast-track a National Food Security Strategy and elevate food and fibre security as a matter of national importance.
“When it comes to food security, it’s time to take this issue more seriously and recognise its link to national security in an increasingly uncertain world,” he said.
“As a nation, we produce more than enough food for domestic consumption, but the agricultural sector relies heavily on imported inputs like fuel, fertiliser and pesticides which have been severely disrupted by the current crisis.”
