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.
"This has been an overwhelming time for farmers they have taken a huge hit, being Canterbury's worst wind storm in 40 years, this is likely to hurt them further down the track." says Katie Milne, Federated Farmers adverse events spokesperson.
"The extent of the damage is still being accessed but it is likely to cost millions of dollars and a big part of that will be from over 800 irrigators being damaged. Water access is becoming a big concern and insurance companies are already receiving hundreds of claims.
"The bigger picture here is that, these irrigators are not a quick fix and there is a strong possibility that this is going to affect long term production for all types of food producers who rely on irrigation. Just how much this will cost is yet to be determined but it is likely to be in the millions.
"In times like these the New Zealand community banding together to help farmers is not only moving but is crucial to get communications out there and to get us through. The offers of generators from farmers in other areas and other individuals and companies, has been tremendous and shows the Kiwi spirit of helping out, when times are tough, is alive and well.
"Federated Farmers would like to thank the media, the public, councils, the Rural Support Trust, and our own team who have along with other organisations stepped in to help farmers, it has been fundamental in the recovery so far," says Milne.
