Scott Morrison to spell out details of $1 billion package for farmers, rural businesses.
where does the $1 billion come from, is it from the tree or the sky or is it mystical or somebody wrote a book about finance?
100 gigalitres of water to be gifted for farmers to grow grass in the Murray Darling system instead of flowing to Adelaide. Adelaide is going to use desal to replace it.
When I looked up some numbers on the cost of desal water the other night, I found Aus plants produce at a cost of $1-4 per kilolitre. Take a midpoint and say $2/kl. That's $200M worth of grass.
I wonder how much it would cost to import from NZ.
At least half of it would be growing grass in Adelaide, so what's the difference?
PS I just made up a statistic, cause that's what we do around here
Does the city of Adelaide get its fresh water from the Murray River? I thought the water was allocated for the Southern Ocean as an environmental flow.
It is not more debt, Its interest-free for five years. The idea is farmers don't have to pay interest on current loans until it rains. Just one of many strategies to decrease financial stress. Not a bad idea, at least the government is trying.
It is more debt. If you need another 200 grand to get through, how do you not borrow that money??
If your current loan is 800 thou and you need another two, doesn't that take your debt to a million..really!?
They are currently paying high interest on just say $1m, they take government loan and payout existing loans meaning you have no interest to pay for the next five years.
5% of $1m x 5ys is a decent saving. Maybe enough to get them through until it rains.
Well, I guess I didn't figure on that. Would that be legal, taking into account the value of the property etc. I would have thought that the existing loan would be separate from any increase, otherwise the government would have to become mortgagers.
If farmers were going to manipulate the loans to suit themselves, the government would run out of the allotted funding quick smart.
Some of these farms run upwards of 10 million dollars, and I would bet that the conditions of the loan would have stipulations that preclude existing mortgages. Just my thoughts..
I wonder if those people who poo pooed Tim Flannery for warning about worsening droughts and fires in Australia are feeling a little bit silly now.
Let's not forget that the Morrison govt cut funding to nsw fire and rescue by 35.4% in june 2019. 13 million dollars that could have helped nsw in these troubled times. Hopes and prayers mean nothing if you're basically contributing to a disaster.
Nothing to do with quick fixes, but at some point, our nation's leaders have to accept the truth and deal with it for the long term.
At present, our PM is in denial and actively avoiding the issue.
If the situation is accepted at face value, then it's not getting any better is it mate?