Make your vote count to restrain wool levy
WoolProducers Australia is urging all eligible wool growers to cast their vote for the 2018 WoolPoll.
Voting closes on November 2 and this is your chance to provide direction to your company, Australian Wool Innovation.
This WoolPoll, WPA is recommending that wool growers vote for 1.5 per cent.
The board of WPA seriously considered all factors when determining this position, including the forecast downturn in production due to dry conditions.
According to the WoolPoll Voter Information Memorandum, 1.5 per cent offers projected annual income of between $85.5 million and $88 million per year for the next three years, which when considered in the context of the last three financial years AWI expending between $70 million and $88 million, is ample money for current business to be continued as well as invest in relevant new areas.
It is important to note that a 1.5 per cent levy is actually supporting a substantial increase in the amount AWI has to spend, even under a scenario where production volumes incur a significant shock and 1.5 per cent is a viable option for future investment.
By voting 2 per cent you are voting for an annual expenditure of $110 million for the next three years, which represents a staggering increase of more than 40 per cent on the average of the past three years.
WPA believes this is too much money to spend and we cannot stand for wastage of growers’ money.
The VIM states that the unaudited reserves of the AWI are $115 million, which given the strong finish in the EMI of the last financial year, could be even higher.
The reality is that AWI has never had so much money given the current healthy state of the reserves and the continued strong prices.
While the concerns of productions are valid, we believe that one of the best ways to contribute to increasing production is to leave that extra half a per cent in woolgrowers’ pockets by voting 1.5 per cent.
WPA would also like to remind growers that voting in WoolPoll is optional preferential, so to really make your voice heard WPA recommends putting your preferences to more than one option.
Ultimately it is up to growers to decide the amount that they wish to contribute to research, development and marketing in their industry and we again urge all growers to make their vote count.