Australian dairy farmers offered bailout
Struggling Australian dairy farmers have been given a $430-million lifeline, after the agriculture minister announced a financial package to bail out debt-ridden owners. Following a milk cooperation price war, which left farmers crippled financially, Barnaby Joyce said the package which will be given to farmers in the form of concessional loans at lowered repayment rates. Farmers will be allowed to borrow up to $740,000 or half of what they owe, whichever is the lesser, while they will also get access to a farm ‘household allowance’, which provides them with a $740 fortnightly payment to help raise the standard of living.
Visitors look at a model of an ACJ 350 X Airbus aircraft replica during the European Business Aviation Convention & Exhibition at Cointrin airport in Geneva, Switzerland, on Tuesday.