Reserve Bank rules bleeding farmers dry - Feds
There are calls for the Reserve Bank to drop its banking capital rules, which Federated Farmers says is costing farmers a fortune.
Agriculture and Trade Minister Todd McClay spoke at the Federated Farmers 'Restoring Farmer Confidence' tour meeting at Mystery Creek, Hamilton last month. Here's what he said:
Farmers and rural communities are the backbone of New Zealand's economy. Over the past year, the Government has delivered practical reforms to reduce costs, cut red tape, provide certainty, and get Wellington out of farming. With 80% of all the goods exports coming from the primary sector and more than 359,000 Kiwis employed because of rural activity, farming, forestry, and horticulture remains a mainstay of NZ economic activity.
The Government's ambitious target of doubling exports by value over ten years is an opportunity to work with the primary sector to add value and deliver greater returns at the farm gate.
The Government has huge respect for our world leading farmers, growers, fishers and foresters. We will continue to partner with them to produce the high-quality, safe food and fibre international market's demand.
Our agricultural team - comprising myself, Biosecurity, Food Safety and Associate Minister responsible for Animal Welfare Andrew Hoggard, Rural Communities Minister Mark Patterson and Associate Minister responsible for Horticulture Nicola Grigg, are working hard to deliver for the primary sector.
The Government has acted decisively to reduce burdens on the primary sector, including:
The Government is committed to providing clarity on emissions, with actions including:
We're taking balanced steps to improve environmental outcomes, such as:
To support our rural areas, the Government has:
Looking ahead, we are fixing freshwater rules and the RMA to give farmers more certainty. Key initiatives include:
This Government trusts farmers to deliver for New Zealand. We will continue to partner with them to ensure rural communities are supported, costs are reduced, and opportunities for growth are maximised.
There are calls for the Reserve Bank to drop its banking capital rules, which Federated Farmers says is costing farmers a fortune.
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