Proposed Package
- A doubling of the off farm asset threshold to $400,000
- an extension of the streamlined reassessment process for drought declared areas nearing the end of their two year assistance period
- an increase in interest rate subsidies from 50% - 75%
- a major boost in staff and funding for rural financial counselling program
Now, some information for your pleasure
- Agriculture is the LEAST supported major industry in Australia, and dought aid pales into insignificance when compared to the ongoing assistance provided to the manufacturing industry
- in 2003-2004, the government provided $11 billion in business support to other forms of industry, of which the manufacturing industry recieved $10 bill.
- the automotive industry recieved $3 bill in direct tax concessions, while the services sector recieved $800 mill.
- The housing industry recieved a $5.6 b boost since the government introduced the first home buyers grant
- Drought affected farmers recieved $79 million in direct business support, and $137 mill a year in welfare support. Making the total support provided over three years, $670 mill.