ANNOUNCEMENT 08 May 2015In May 2015, the government of Australia announced a change in private-sector financial support.
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New $100 million Northern Australia Beef Roads Fund
Beef 2015: Abbott announces $100m for northern beef roads
$100 million northern beef roads fund
$100m to ease cattle transport under Northern Australia Beef Roads Fund
In May 2015, the central government of Australia made funds available to support the infrastructure of cattle farmers and related economic activities.
A press release of the Office of the Prime Minster of Australia of 8 May 2015 reports that the Government will invest $100 million in a new Northern Australia Beef Roads Fundwith the goal of improving roads that are critical to the beef industry, said to be a pillar to the northern economy. One motivation for this state initiative is the fact that transportation costs reach up to 35 per cent of the market price of livestock. The fund will 'improve the productivity and resilience of cattle supply chains in northern Australia' and will "improve the profitability of a range of businesses - including pastoralists, livestock transporters, processors, and live exporters".
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.