Rural debt rise proves the bush is hurting
DATA has revealed the average debt per farmer in rural Queensland has shot to a whopping $1.05 million, up 11.3 per cent in two years.
Rural debt for Queensland farmers has surged by more than 10.7 per cent to $19.1 billion from 2017 levels, according to the latest 2019 Rural Debt Survey.
LNP Leader Deb Frecklington said it's another stark reminder that our farmers are doing it tough and they need more help to produce the locally grown food and fibre Queensland needs.
"Queensland's food supply chain supports around one in seven Queensland jobs, but it's under threat unless the Palaszczuk Labor Government has an economic plan," said Mr Frecklington.
"Now more than ever we should be backing our farmers to create a decade of secure jobs and boost exports.
"The LNP's New Bradfield Scheme is a key economic driver that will stimulate our economy and drag us out of recession, while droughtproofing our state.
"My bold and ambitious plan will create tens of thousands of jobs and irrigate an area of land larger than Tasmania.
"The LNP has also released a long-term plan for cheaper water prices, supporting more than 5,000 SunWater irrigators with annual reductions of around 20% per year.
"The foundations of the LNP's plan for a stronger economy and secure jobs are investing for growth, unleashing Queensland industry, supercharging the regions and securing our children's future."
LNP Shadow Minister for Agriculture Tony Perrett said that the rural debt survey was a useful and valuable tool for governments when making policies to support Queensland farmers.
"In 2017 during the last hung parliament, the LNP was able to support farmers by moving amendments to establish the Farm Debt reconstruction office and the rural debt survey," said Mr Perrett.
"The LNP has a strong track record in supporting farmers and ensuring important information about the health of this vitally important sector is reported and made public.
"Only the LNP has an economic plan to support our farmers through drought, build a stronger economy and get Queensland working again."
Queensland Rural Debt Survey 2019: https://www.parliament.qld.gov.au/Documents/TableOffice/TabledPapers/2020/5620T1227.pdf
LNP delivers farm debt restructure office QCL article 22 March 2017: