Bridget McKenzie (Victoria, National Party, Minister for Agriculture) Share this | Hansard source

Drought is, has been and will always be a constant factor in Australian agriculture. The establishment of the Future Drought Fund will provide a new secure and predictable funding stream for drought resilience into the future. The government intends to grow the fund until it reaches $5 billion, while at the same time drawing down $100 million per year from July next year to build drought resilience across Australia. This will support R&D and innovation and infrastructure projects and deliver improved environmental and natural resource management to enhance agricultural practices. From the stump-jump plough to precision direct drill cropping, our farmers have always led the world in innovation, and this will ensure the next innovation comes sooner. Our fund demonstrates government's commitment to supporting farmers and communities to prepare for the inevitable future droughts.