North West QLD Supports Debt Inquiry

Queensland Senator Matt Canavan has found widespread suport in the north-west of Queensland for an inquiry into rural debt. 

"I strongly believe the Senate should examine the problems being suffered by primary producers because of the current level of indebtedness and consider practical answers," Senator Canavan said today.

"I have found support for the idea of a national inquiry in discussions with producers this past week. They understand this is a serious problem and that something must be done.

"I think the first thing we probably have to do is get the message across to city dwellers - including feĺlow politicians - that this is a very serious situation that can't be ignored."

Senator Canavan was speaking on his return from a driving tour that included discussions with councils and producers in Charters Towers, Hughenden, Richmond, Julia Creek, Cloncurry and Mt Isa.

“The drought has driven a de-stocking process and we need to give producers confidence to soon start re-stocking. That will be hard for producers with high debt and limited access to finance. Innovative financing options may be able to help producers to clear debt and have a bright future.”

11 August 2014

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