{"id":148637,"date":"2016-06-14T22:14:25","date_gmt":"2016-06-14T12:14:25","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=148637"},"modified":"2020-10-12T16:13:18","modified_gmt":"2020-10-12T06:13:18","slug":"banks-forced-into-mediation","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/06\/14\/banks-forced-into-mediation\/","title":{"rendered":"Banks Forced Into Mediation"},"content":{"rendered":"
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Agriculture Minister Leanne Donaldson<\/figcaption><\/figure>\n

June 14, 2016<\/strong><\/p>\n

The 2016-17 State Budget includes several measures aimed squarely at Queensland’s rural sector.<\/p>\n

Agriculture Minister Leanne Donaldson said Farm Debt Mediation legislation would be introduced to require banks to conduct a formal mediation process with farmers struggling with debt.<\/p>\n

\u201cHaving a legislated mediation process before bank enforcement action can deliver more positive outcomes for all parties,\u201d she said.<\/p>\n

An Office of Rural Affairs will also be established within the Department of Agriculture and Fisheries to better advise government, a move recommended by the Rural Debt and Drought Taskforce.<\/p>\n

And\u00a0stamp duty has been removed on transfers of farms between family members, bringing Queensland into line with other States and Territories and removing an impediment to succession planning.<\/p>\n

The Budget has also allocated a combined $77.9 million\u00a0for Drought Assistance Package and Rural Assistance Package.<\/p>\n

A million dollars has been set aside over three years to assist rural producers to seek advice on farm financial management, climate risk mitigation, succession planning and\/or to undertake multi-peril insurance assessments.<\/p>\n

Ms Donaldson also flagged changes to the QRAA to improve the State Government\u2019s concessional loan program.<\/p>\n

\u201cQRAA is to be reconstituted to become the Queensland Rural and Industry Development Authority (QRIDA) with an expanded Board charter and improved flexibility,\u201d she said<\/p>\n

\u201cIn addition, the Primary Industry Productivity Enhancement Scheme (PIPES) loans will be enhanced to reflect the higher capital requirements in agriculture.<\/p>\n

\u201cThis includes doubling the Sustainability Loans for up to $1.3 million and increasing the First Start Loans to up to $2 million (up from $650,000).<\/p>\n

\u201cWe will also investigate widening the scope of PIPES to the post-farm gate sector.”<\/p>\n

The Budget also includes almost $7 million funding over three years for pest and weed management programs, including further assistance for producers to build wild dog fences.<\/p>\n\n\n\n
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LNP Opposition
\nNot Impressed<\/strong><\/p>\n

The rural measures in the Budget have not impressed the LNP Opposition.<\/strong><\/p>\n

Deputy Opposition Leader and Member for Nanango Deb Frecklington said there had actually been a $5 million cut from the budget of the Department of Agriculture and Fisheries.<\/strong><\/p>\n

“Given the stresses that Department is going to have with the introduction of the Biosecurity changes, it’s as if Labor had not considered that at all,” Mrs Frecklington said.<\/strong><\/p>\n

The LNP has also pointed to $2.9 million slashed from the Department of State Development, $1 million from the Department of Aboriginal and Torres Strait Islanders Partnerships, and $6.6 million from the Department of National Parks, Sport and Racing.<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The updated Drought Assistance Package provides $41.921 million in 2016-17, including:<\/strong><\/p>\n