Australia: NSW increases the budget of the Farm Innovation Fund

Announcement

13 Jun 2018

The Premier, Deputy Premier and the Minister for Primary Industries of New South Wales announced a new set of measures to support farmers affected by the drought. The new resources will increase the total government expenditure related to drought-relief from AUD 300 million (USD 228 million at the time of the announcement) to AUD 584 million (USD 444 million at the time of the announcement).

Source

Number of interventions

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

13 Jun 2018

Revocation date:

30 Jul 2018

Updated: 13 Jun 2018

State loan

On 13 June 2018, the Government of New South Wales allocated another AUD 250 million (USD 190 million) to Farm Innovation Fund increasing the resources to AUD 500 million (USD 380 million).