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No handouts for farmers affected by cyclones
Morning Report
English - June 29, 2023 18:12 - 7 minutes - 7.13 MB - ★★★★ - 11 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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A long-awaited support package for weather-affected farmers and growers has defeated hopes of cash-in-hand payouts.
The Government yesterday announced it would help banks provide loans to businesses hit by Cyclone Gabrielle by carrying 80% of the credit risk.
And if banks don't approve loans, the Government will lend business owners cash itself - deferring interest for ten years.
Hawke's Bay Federated Farmers president Jim Galloway spoke to Corin Dann this morning.