$70m drought relief for Australian farmers
The Australian Commonwealth Government has paid out more than A$70 million ($41.7 million) in compensation to over 7,000 farmers since the start of the country’s worst drought in over a century.
A$53 million has been given to over 2,000 farmers under the Exceptional Circumstances (EC) drought assistance scheme. Under this system, farmers and small businesses can access interest subsidiaries on new and existing loans of up to A$100,000, as well as income support for two years. Federal Agriculture Minister, Warren Truss announced recently that an additional 17,000 farmers are now eligible for EC drought assistance.
South Australian farmers who do not qualify for the EC program can apply for compensation under an additional drought relief package. A$17 million has already been paid out to over 5,000 farmers under this system.
Truss said the number of farmers applying to Centrelink for compensation is still rising rapidly.
