Australian farmers urged to preserve core stock
The Australian Bankers Association has warned of dire long-term economic consequences unless the country’s core-breeding stock is maintained during the ongoing drought.
Issued by the association's chief executive, David Bell, the warning comes ahead of a planned meeting on the drought between member banks and the deputy Prime Minister John Anderson in Sydney tomorrow.
Stressing the importance of breeding stock as core capital investment, Mr Bell said the banks had been providing rural communities with special consideration and understanding during the drought.
The Federal Government recently announced an extra A$208 million, including interest rate subsidies, for drought-affected farmers.
