Drought Assistance Relief Package & Get Ready Business Toolkit
Wed 22 Aug 2018
MEDIA RELEASE - MORE THAN $1 BILLION IN SUPPORT TO HELP FARMERS THROUGH WORSENING DROUGHT
With 99 per cent of the State now in drought the NSW Government has announced further support with a $500 million Emergency Drought Relief Package, taking the NSW Liberals & Nationals total drought support to more than $1 billion.
Premier Gladys Berejiklian said farmers are facing one of the driest winters on record, resulting in failing crops, drastic water shortages and a diminishing supply of fodder to sustain livestock.
“We have listened to farmers throughout NSW who have told me they urgently need help,” Ms Berejiklian said.
- Click here for Media Release from NSW Government - More than 1 Billion in support to help farmers through worsening drought (PDF 179.25KB)
- Click here for information on the NSW Emergency Drought Relief Package
GET READY BUSINESS TOOLKIT
You think it will never happen to your business, until it does. How are you protecting everything you’ve built?
The frequency and severity of natural disasters is increasing in Australia, meaning that there will be more floods, storms, bush fires and heat waves. They can have expensive consequences, and they could devastate your business within minutes. Following a disaster, it can take months to get back up and running.
It’s not only the immediate damage from a fire or storm, but also the flow-on impacts, such as power outages and transport and communication interruptions that can affect your business. If your business was shut for a month or more, how would that impact you, your staff and their livelihoods?
Preparing for disasters is as important to successful business outcomes as making an annual business plan. Taking steps now to prepare against disaster is smart business. It can mean the difference between re-opening two days or two months after an event, or not at all.
Click here to access the Get Ready Business Toolkit (PDF 2.78MB)
ANZ DROUGHT ASSISTANCE
The ANZ Bank has announced it would reduce interest rates for variable business lending by 1.00%pa for farmers in drought-declared areas, as well as setting aside $130 million for low interest loans to support farmers through the next season. This is aimed at providing immediate cash flow relief and helping farmers prepare for next season.
The interest rate reduction will apply for the next 12-months to family and small farming enterprises that currently hold variable rate business lending with ANZ, effective from 1 September. For customers with a variable rate business loan of $300,000 the 1.00%pa discount would save them up to $3000 on interest payments over the next 12 months.
ANZ’s total drought relief package also includes:
- 1.00% reduction on variable business farming loans in drought declared areas
- $130 million in discounted loans available to support famers through the next season
- $1 million donation to help farmers struggling with drought conditions
- Suspension of loan repayments, including credit cards for up to three months
- Continuing moratorium on farm repossessions in drought-declared regions
- Waiving fees associated with restructuring business loans
- Longstanding commitment not to increase interest rates on distressed customers
The ANZ Bank understand many local farmers are being significantly impacted by drought and they're committed to supporting their customers and Australian agriculture at this difficult time. The ANZ are encouraging customers impacted to contact their Agribusiness Manager or the dedicated hardship team on 1800 351 548 or www.anz.com/hardship.
WATCH THIS SPACE!
Further information on the NSW Drought Assistance Relief Fund will be added to this page when new information comes to hand.