24 June 2016
Yesterday the Coalition unveiled its comprehensive $240 million agricultural election policy package including implementation of a Regional Investment Corporation (RIC), the R&D for Profit Program with a focus on developing the rice industry in Queensland and a clear direction for the Clean Energy Finance Corporation (CEFC) to focus on agribusiness investment.
Queensland Farmers’ Federation (QFF) President Stuart Armitage welcomed the Coalition’s detailed and broad ranging agricultural election package.
“QFF reservedly welcome the establishment of the Regional Investment Corporation (RIC) and the role it will play in streamlining Commonwealth assistance to our members, however await to see how it will work in conjunction with the changes announced in the Queensland budget for the establishment of Queensland Rural and Industry Development Authority (QRIDA). We do not want to see duplication from the coexistence of federal and state concessional lending organisations.”
“The $4 million allocation from the R&D for Profit Program to fund rice industry development in northern Australia is a proactive and intelligent measure and will build upon successful trails already completed in Queensland.”
The Clean Energy Finance Corporation (CEFC) will be tasked with identifying projects suitable for investments in on-farm renewables and new technologies on agribusiness, like abattoirs, sugar mills and dairy processors.
“This is a sensible way of facilitating investment in new technologies and reducing the environmental impact of our agricultural industries. For too long the CEFC has overlooked potential agribusiness projects in rural and regional Queensland in favour of those in more urban areas. This policy priority is welcome as it invests in our growing sector.”
“The $130 million announced for half of the Rookwood Weir’s construction near Rockhampton, which will be matched by the State government, will create opportunities for irrigators and open up new opportunities for our members.”
“The Labor party is yet to release its agriculture election package so it is hard to offer any constructive comment. However, reports that the Labor Party is planning to take water policy out of the Agriculture department and return it to the Environment department are very concerning. This backward step would be a complete disservice to our industry members and agriculture more broadly.”
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