The Labor Governmnt has announced $500m in funding for the Future Drought Fund at Beef 2024. Picture: Anthony Albanese Twitter/X

THE Albanese Labor Government has announced $519.1 million investment into the Future Drought Fund to help farmers and regional communities prepare for the next drought and build climate resilience.

The Government says it has made adjustments to the original fund by recognising the role of climate change in droughts. It said farmers are on the frontline of climate change and the fund will provide:

• Better tools for farmers to help mitigate the impact of drought on their farms.
• Strategies for local communities to prepare for and manage risks through drought.
• Increased investment in the existing network of drought hubs.

The programs will start to become available from 1 July 2024.

Prime minister Anthony Albanese said: “It’s vital that we support Australian farmers and producers to be prepared for more severe weather impacts.

“That is why we’re investing hundreds of millions more in the agricultural sector and regional communities to plan and prepare for drought through the Future Drought Fund.

“By doing the work now our rural and regional communities are not just reacting to events as they unfold, but will have considered plans to make them more resilient to climate change.”

Agriculture minister Murray Watt said: “Every morning when farmers around the country wake up, put their boots on and go to work, they are one day closer to the next drought.

“We are already seeing very dry conditions in Western Australia and some parts of Tasmania.

“Time is of the essence when it comes to planning for drought, that’s why we’re investing heavily now in a new and improved Future Drought Fund.”

Govt previously voted against FDF, Littleproud

In response to the announcement, Nationals leader David Littleproud said the program is nothing new.

“The Prime Minister has just announced an extension of an existing program that Labor initially voted against in February 2019,” Mr Littleproud said.

“This isn’t new money. This is actually coming from the Future Drought Fund that we put in place, when we were in government.

“Back then, Mr Albanese voted against it. Yet today Mr Albanese has used Beef2024 to pretend to support our Australian farmers, who are doing it really tough under Labor’s damaging policies.

“The Prime Minister’s hypocrisy is breathtaking.

“Much of the programs Labor is going to continue to fund are programs that were originally put in place when I was Agriculture Minister.

“The only two announcements that would make a difference to the cattle industry today would be abolishing the fresh food tax and settling a live cattle legal case, after Labor’s unlawful ban of the live cattle industry in 2011.”

NFF welcomes drought funding, says other issues are clouding Govt at Beef

National Farmers’ Federation president, David Jochinke, said the FDF was central to making producers more resilient in the face of current and future droughts.

“Supporting long-term resilience through initiatives and programs like those funded by the FDF has never been more important.

“Having been up and running for several years it makes sense to continually review the FDF and ensure we’re making the most of that investment.

“The Prime Minister being in Rockhampton to make today’s announcement hopefully demonstrates that drought resilience is front of mind for this Government, especially given the dry conditions being faced by producers in the West and Tasmania,” Mr Jochinke said.

Mr Jochinke called out specific areas where today’s announcement aligns with suggestions put forward by farmer advocates and the Productivity Commission.

“We’re pleased to see the continuation of the Farm Business Resilience Program. Sound financial planning is one of the most powerful tools we have to prepare for drought, and we know that program has helped thousands of farmers sharpen up their preparation.

“We’re also pleased to see a review of the Drought Hubs and more investment in overall monitoring and evaluation of the FDF.  This is something we’ve called for to ensure we’re seeing tangible outcomes for the sector.

“I know that with Brent Finlay in the Chair at the FDF, that focus on delivering for farmers will be central to that review process.”

Mr Jochinke stressed however that while FDF changes were welcome, the sector couldn’t ignore a range of adverse policies that would be clouding the PM’s visit to Rockhampton this week.

“If the Government was fair dinkum about the resilience of Aussie farmers, it would urgently scrap harmful policies like the Biosecurity Protection Levy or the phase out of live sheep exports.

“It would also stop denying justice to the victims of the 2011 live cattle export ban and settle that long-running class action.

“Giving with one hand and taking with another doesn’t really get us anywhere,” Mr Jochinke concluded.

Source: Albanese Government/NFF