ANNOUNCEMENT 13 Jun 2018

The Premier, Deputy Premier and the Minister for Primary Industries of New South Wales announced a new set of measures to support farmers affected by the drought. The new resources will increase the total government expenditure related to drought-relief from AUD 300 million (USD 228 million at the time of the announcement) to AUD 584 million (USD 444 million at the time of the announcement).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

New South Wales Government. Media Release. "More than $584 million to help drought-affected farmers" Wednesday, 13 June 2018. Available at: https://www.dpi.nsw.gov.au/__data/assets/pdf_file/0003/817824/More-than-$584-million-to-help-drought-affected-farmers.pdf

Inception date: 13 Jun 2018 | Removal date: 30 Jul 2018

State loan

On 13 June 2018, the Government of New South Wales allocated another AUD 250 million (USD 190 million) to Farm Innovation Fund increasing the resources to AUD 500 million (USD 380 million).

The objective of this fund with the intention of assist farmers affected by the drought. The fund provides farmers with AUD 50,000 seven-years interest-free loans to invest in new water infrastructure and fodder and grain storage. 

Update
On 30 July 2018, the New South Wales Government increased again the budget allocated to the Farm Innovation Fund (please, see related state acts).

AFFECTED PRODUCTS

 
N/A