The lead headline was "State owes vast sum to farmers". The story went on to say how the New Zealand government of the day was in debt to Kiwi farmers to the tune of more than 55 million pounds stirling (about $1.8b in today' money), held "in reserve" from beef and dairy receipts collected presumably through state-controlled producer boards.
Fast forward to today, while the funds no longer get funnelled through government coffers (thank goodness) nothing much else has changed, it seems.
The Government of today still remains indebted to farmers for generating billions for the economy without any subsidies or financial assistance!
