Media Statements
JOINT STATEMENT
Premier and Minister for Trade
The Honourable Annastacia Palaszczuk
Minister for Agricultural Industry Development and Fisheries
The Honourable Mark Furner
Tuesday, January 23, 2018
Queensland Farm Debt Restructure Office opens
The Palaszczuk Government has established a dedicated office to assist Queensland primary producers experiencing financial distress access free expert financial analysis and advice.
Premier Annastacia Palaszczuk said the Farm Debt Restructure Office was the Government’s latest initiative in the ongoing commitment to the agricultural sector and the issue of rural debt delivering a number of protections for Queensland farmers.
“The Office provides eligible primary producers with a no-fee, no-obligation assessment of their business and financial position, to help them make informed decisions on the future of their agricultural enterprise,” she said.
“The Office will be overseen by the Queensland Rural and Industry Development Authority and it will work with the Authority’s network of nine offices, including the office here in Roma.”
“My Government is working to grow our primary industries sector. It’s a vital contributor to our economy and the backbone for rural and regional Queensland. I welcome the recent AgTrends forecast for the total value of Queensland’s primary industry commodities for 2017-18 to be almost $20 billion -$19.87 billion.”
Agricultural Industry Development Minister Mark Furner said the assistance doesn’t replace a producer’s existing financial providers or advisors, but complements them by offering an alternate opinion.
“Farm Business Analysis Assistance offers eligible farmers with detailed, expert options from an approved rural finance professionals at a level that the producer may not be able to afford at their time of distress,” he said.
“The report which follows an on-farm visit will give realistic options and ideas on how to repair, reduce or rationalise farming activities within the available resources, for the best possible outcome for the farmer and their family.”
The initiatives were part of the Farm Business Debt Mediation Act 2017 passed by the Queensland Parliament last year and include the now mandatory Farm Business Debt Mediation introduced to prevent foreclosure on farm debt without a fair and equitable mediation process.
