$5 billion victory for Future Drought Fund
DROUGHT-STRICKEN farmers are relieved after bipartisanship support was shown for the Coalition’s Future Drought Fund in the House of Representatives.
The Coalition’s move towards delivering a key election promise will include a $5 billion fund to ensure $100 million a year in perpetuity towards drought resilience and preparedness.
Before the election, the ALP said it would not back the Coalition’s plan but after an embittered debate on Monday night the legislation was passed in the Lower House.
Minister for Water Resources, Drought, Rural Finance, Natural Disaster and Emergency Management David Littleproud said it was a great victory for farmers.
“We promised to do this to support our farmers and we’re delivering,” he said.
“We hope this bill passes quickly through the Senate so we can get on with the job of delivering the fund.
“There’s much work to do before 1 July 2020, including consultation.”
Both parties accused each other of politicising the misery of farmers in drought, however Mr Littleproud said Labor has finally been dragged to commonsense – supporting the bill at the last possible moment.
“We celebrate this great day and look forward to support of the Senate, helping farmers from July 1 next year,” Mr Littleproud said.