Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

I would have thought that, on an issue like this, the Labor Party would be able to resist interjecting.

The package is fair but fiscally responsible, providing targeted and time limited measures to promote drought resilience and preparedness over the longer term. Elements include the interim farm household allowance, which will replace the current transitional farm family payment. The new payment will provide a more generous asset test. The Australian government is also providing $280 million for concessional loans to assist drought affected farm businesses recover from drought and return to profitability in the long term. Drought concessional loans of up to $1 million or up to 50 per cent of eligible debt, whichever is lower, will be provided to eligible farm businesses at an initial interest rate of four per cent over a five-year period. We are also providing additional funding for water infrastructure, social support and the control of pest animals. In relation to water infrastructure, a further $2 million is set aside to extend assistance to other areas and jurisdictions if required. In relation to pest animals, $10 million is set aside. In short, it is a very well-rounded package.