Feds make case for rural bank lending probe
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
He says while it’s not time to call it drought, the grass is not growing much at present. He says it’s the same in other parts of the country including the Wairarapa.
But despite the imponderable weather, McIntyre says farmers are more optimistic now than they were.
“The GDT going upwards has helped and the news of another increase in the milk price has reduced some of the stress that dairy farmers have been under and there is wave of optimism that things will get better,” he says.
McIntyre says one of the reasons that farmers have been stressed is their concern over government regulation from the previous administration.
He says famers felt they were bashing their heads against a brick wall trying to get Labour to listen. Farmers, he says, are looking for sensible and cost-effective solutions and are hopeful the new government will deliver on the promises they have made and fix things.
McIntyre says while dairy farmers aren’t facing the challenges that their sheep and beef colleagues are going through, he says some dairy farmers are struggling to make ends meet with the high input costs and higher interest rates.
“A lot of promises have been made but we now need to see some appropriate action to set things right,” he says.
