Media Release

KATTER’S Australian Party Leader and Federal Member for Kennedy has welcomed the Federal Government’s reallocation of the Farm Finance package and calls for further action to halt the anguish currently smothering the Australian cattle industry.

“We welcome the rearranging of money and we think it’s now distributed in a much fairer way.

“Obviously Queensland is a much bigger agricultural state then two or three of the other states and territories and its plight is infinitely grimmer on a much wider basis.

“We must make the point that the Federal Government has so far not provided any substantial assistance whatsoever and appears to be, ‘robbing from Peter to pay Paul’. We consider this a good because as we are obviously Paul,” Mr Katter said.

The announcement follows the latest in a series of meetings between Mr Katter and the Indonesian Ambassador and senior Canberra officials, in the two years since the ALP Government’s precipitous and ill-conceived live export ban that dealt northern Australia’s cattle industry a grievous blow.

“But we say again, for the millionth time, there has to be somewhere in the vicinity of $80 million worth of grants; $750 million in loans at two per cent borrowing rate and thirdly the establishment of a rural reconstruction and development bank.

“Without those three initiatives then I think the breeders will be sold to the meatworkers, sent south or the breeders will simply die of malnutrition and starvation,” Mr Katter said.

Earlier this year, Mr Katter introduced to the House of Representatives the Reserve Bank Amendment (Australian Reconstruction and Development Board) Bill 2013, which are laws contingent on the commercial banks writing off up to half of existing debt (for which half that value becomes a tax concession), enabling the ARDB to buy the bad debt at the discounted value and offer farmers refinancing at interest rates lower than commercial lenders.

“There will be a vanishing of some 500,000 head throughout the northern half of Australia, by the time the dust has settled.

“The annual losses assuming much of the loss will be processed cattle, will be close to $1 billion, with tax revenue losses of up to a couple of hundred million dollars.

“Apart from the catastrophic economic effect, hundreds of rural businesses, contractors and cattle farmers will go to the wall.

“Meanwhile, the State LNP Government will not even help us by extending graziers’ access to National Parks for starving cattle beyond 31 December 2013.

“We hope and pray for a more enlightened attitude from the Federal LNP Government,” Mr Katter said.

Mr Katter warns that whilst there is no doubt that the ALP was the catalyst for wrecking the industry the underlining causes were the high dollar, high interest rates and the policy of foreign governments protecting and subsidising their farmers, when we don’t.

“These underlying causes were put there by the ALP and LNP parties.

“The trigger for the current situation undoubtedly lies at the feet of the ALP but if we go into December with none of those essential actions taken, then the LNP at both a state and federal level will be remembered as the governments that refused to preserve and or rescue our cattle industry.

“And we would plead with them, if for no other consideration to reflect on how the history books will treat them,” said Mr Katter.