Morrison offers lifelines to Qld graziers
Queensland graziers struggling with the aftermath of devastating floods will be paying "a hell of a lot less" interest on loans under a plan to help them get back on their feet, Scott Morrison says.
The prime minister will be in Townsville on Friday to announce a range of measures to help farmers and local communities return to normality after the unprecedented floods.
People in rural and remote areas of flood-affected north Queensland are being given greater access to Commonwealth-backed concessional loans and mental health support.
Small businesses and not-for-profits will also be provided grants of up to $50,000 to rebuild, repair and replace stock, plant and equipment.
Up to 500,000 cattle are believed to have drowned in the widespread flood waters.
Earlier this month, Mr Morrison met with graziers at Cloncurry and Julia Creek in north-west Queensland, whose herds had been wiped out.
"To see them washed away, lying in the dry mud, it's just heartbreaking," he said on Friday.
Mr Morrison believes the north Queensland cattle industry can return to its former prosperity but stressed it won't be easy.
"It's going to take a lot of work to get there," he told ABC Radio National.
"It's going to require a business plan for each and every farm and station."
A new livestock industry recovery agency, to be led by former NT chief minister Shane Stone, will help provide farmers funding to restock their herds and fix on-farm infrastructure like fences.
The rules around the government-owned Regional Investment Corporation will also be changed so it can offer drought-stricken farmers concessional loans.
Farmers will be able to refinance existing debt and access loans for restocking, using their stock as collateral.
The rate of interest they pay will vary by their situation but the prime minister is certain they'll be getting a good deal.
"It's going to be a hell of a lot lower than they're paying now," he said.
The government has also written to each of the large lenders engaged with flood-affected farmers, urging them to exercise restraint.
It has asked banks to not foreclose or force the sale of farms for three years, defer interest and principal repayments for three years where appropriate, and commit to lending for stock and herd replacement.
The government has also offered banks low-cost loans to pass on to eligible farmers.
More telehealth services will also be made available, providing care by video conference to people in flood-affected areas, with providers and patients given immediate access to health rebates for four months.
More than $100 million in immediate assistance has already been delivered to flood-affected communities in recent weeks, while the tax office has also taken steps to help those impacted.
Australian Associated Press