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 describes it as completely tone-deaf to the reality rural New Zealanders are living with. Langford says at a time when farmers are struggling to keep their heads above water and are looking for support, they’re instead being weighed down with more uncertainty, complexity and cost.
“Farmer confidence is at an all-time low, and this announcement is going to do nothing to help restore it. It will only erode it further.”
Langford says Feds agreed to try and work with the Government and other sector partners to develop a plan to reduce emissions in a way that is cost effective and fair for farmers. But he says what the Government have come back with is not a plan that’s been designed in partnership with the sector.
“It’s the Government’s plan and we have serious concerns about the impact it will have on our farmers.”
The Meat Industry Association (MIA) and Beef + Lamb NZ (B+LNZ) have also weighed into the debate. They say the arbitrary deadline set by the Government for pricing agricultural emissions is not justified, given the sector’s progress in reducing emissions and the scale of issues that still need to be addressed.
MIA chair Nathan Guy says while the Government has moved on from the “blunt” processor levy, it has taken a long time to reach a decision that doesn’t meaningfully advance critical issues.
B+LNZ chair Kate Acland says there is no sound rationale for pricing when the sector is making good progress towards meeting emissions reduction targets.
