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Farmers seeks cash grants rather than loans
20 May 2005
Farmers are seeking individual cash grants of up to $100,000 for the worst hit farms, to stave off bankruptcy. Federal cabinet is due to consider further relief measures for farmers. These may include more generous relief than the 50 per cent interest rate subsidy now offered to farmers in drought-hit areas. This could see the commonwealth underwrite up to 80 per cent of a farmer's interest payments on a loan until the drought is broken. The National Farmers Federation said it wanted cash grants to limit the level of farm debt.
The Australian, 20/05/05
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