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November 27, 2008

 

Australia passes 15 percent of farm exit grant applications
 
 

Australia has granted only 15 percent, or 92 out of 610 applications, drought exit payments since September 2007.

 

The payments help farmers to leave the land. Farmers said the figures prove the system is faulty and needs to be changed.

 

Figures from the Department of Agriculture Forestry and Fisheries show that 155 applications are approved (pending the sale of the farm), 75 are under process, while 288 farmers did not meet the criteria.

 

Victorian Farmers Federation president Simon Ramsay said the number of applications surprised him.

 

"There hasn't been enough incentive for farmers to leave under the exit package. It requires significant low equity and high debt, and not really sufficient funds to relocate," Ramsay said.

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