Media Release

KAP Leader and Federal Member for Kennedy Bob Katter has today urged Australians to attend the Rural Debt Crisis Summit called by State Member for Mount Isa Rob Katter in Winton this Friday December 5, 2014.

Mr Katter said unlike other meetings this one will not be designed for the politicians to shoot their mouths off; this meeting will be for the people to have their say to the Australian nation.

“The people must state their demands clearly to and forcefully to the government. The Australian media will be there and the message must go out.

“We need to let the world know we’re in pain. It’s not good enough for politicians like myself to say so, people need to tell of their own situations.

“Alan Jones and some of the leading economists in Australia will be in attendance.

“But this meeting will belong to the people”.

Mr Katter said no matter what the government does this period will go down as the blackest stain on the nation’s history.

“We are looking at 12 or 15 foreclosures every fortnight.

“The Catholic priest, Father Matthew Moloney at Longreach, has said there are 46 properties being sold up in the Greater Longreach area.

"There is no doubt that he’d be spot on. It may be even worse in parts of the mid-west and gulf country.”

Mr Katter said that to him the answer was simple – that for all of Australian history governments had set up Australian Reconstruction and Development Boards (ARBD), which were authorised to prudentially borrow money and loan it out to farmers.

ARBDs have historically loaned the money at two per cent as well as taken over the bank loan at a discounted figure of between 25-30 per cent.

“We’re not asking for a bailout, in fact the last time this was done in Queensland on a major scale in sugar, the government made an estimated $200 million profit.

“This is the first time in Australian history where a crisis of this size has arisen without the remotest effort to put in place an ARBD.

"At a two per cent loan and with a 25 per cent write off the balance of debt, 95 per cent of the farmers will pull through," Mr Katter said.

The Rural Debt Crisis Summit will be held at Winton Shire Council Supper Rooms from 11:30am on Friday 5 December 2014.