The federal member for Kennedy said the Agricultural Competitiveness White Paper released on the weekend by the Agriculture Minister re-announced a number of previous items and throws another $2.75 billion into the botched loans scheme.

 “We have pointed out again and again and again that this (loans scheme) does not work,” he said.

“The current loan structure costs taxpayers money and achieves nothing.

 “Probably another half dozen stations have foreclosed, or are in the process of foreclosing in the last month alone.  

 “So while the media are running on their heavyweight programs 60 Minutes and Sunday Night the trauma of foreclosures, the government is running around throwing money uselessly.  This quite frankly further enrages rural Australia.” 

Agriculture Minister Barnaby Joyce said the new loans scheme would provide up to $250 million in loans each year nationally, and would be available for 10 years from 2016–17.

“We recognise the need for in-drought support for farm businesses that is both effective and fiscally responsible,” Mr Joyce said.

“Our farmers contributed about $51 billion to our nation’s economy in 2013–14. Stronger farm businesses mean a stronger economy—so supporting viable farm businesses to better manage through drought is in our national interest.

“The new scheme will complement—not replace—commercial finance, and will help farmers in the short-term when income is tight, so they can return to productive operation more quickly following drought.’’

Mr Katter said a “simple” Reconstruction Board costs the taxpayer nothing and has worked for 100 years. 

 “The banks are out there ruthlessly foreclosing,” he said.  

“This is a $2.75 billion assistance for the banks, not assistance for the farmers.”

 “Farmers don’t want more debt they cannot service.”

 “They want to reconstruct their existing debt.” 

A commitment of $500 million over four years for water infrastructure – with $450 million of that set aside for construction and $200 million earmarked for Northern Australia – was welcomed by Mr Katter.  

But the federal member for Kennedy wants the money to flow into construction now, not in a few years’ time through another study.

“The first obvious problem is ‘show me the money’,” he said.

 “We are only interested in this if it takes us to a hard commercial proposal for an operator.”