Continued investment in agriculture & water resources
18 December 2018
- More than $1.8 billion for new investment in agriculture & water resources.
- $40.8 million for agricultural trade.
- $6.5 million to map the Great Artesian Basin.
More than $1.8 billion has been delivered to drive exports and secure the Great Artesian Basin since the last budget.
This new investment is outlined in the Mid-Year Economic and Fiscal Outlook (MYEFO) released yesterday. MYEFO shows a Budget surplus by 2019-20, the first time since the last year of the Howard Government.
Minister for Agriculture David Littleproud said the $1.8 billion included $40.8 million over five years to strengthen Australia's agricultural trade.
"Strong international agricultural trade means a strong agricultural sector," Mr Littleproud said.
"This funding is helping to modernise our exports system and deliver real time advice on importing country requirements.
"We want to help our farmers get their quality produce from the paddock to supermarket shelves quicker."
Minister Littleproud said the government was also investing $6.5 million to paint a clear picture of what sustainable water use across the Great Artesian Basin will look like.
"The Great Artesian Basin is a vital resource, supporting more than 180,000 people, 7,600 businesses and $13 billion in annual economic activity," Mr Littleproud said.
"This will include the use of supercomputing technology to map the natural flows of this vital resource and how it works.
"What we learn will be critical to making informed decisions that balance long term social, economic and environmental outcomes.
"The new funding also includes a $1 billion investment in concessional loans.
"This Government invests in Australian agriculture day in, day out."