Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Federated Farmers On Farm Debt Mediation Bill

Federated Farmers today appeared in front of the Primary Production Select Committee to oppose the Farm Debt Mediation Bill.

Federated Farmers' National Vice President Alistair Polson emphasised that his organization viewed any forced farm sale as a human tragedy, but was not convinced that statutory or forced mediation is the answer to the problem.

"We encourage and support banks and farmers working closely together throughout their entire business relationship, not last-gasp attempts at reconciliation after the horse has bolted," Mr Polson said.

Mr Polson said that a comprehensive survey of members on the proposed bill revealed that farmers do not want to run their businesses under statutory frameworks, including forced mediation with banks. Farmers believe that farm lending will be stigmatised by statutory intervention and the cost of all farm lending increased as a consequence.

Federated Farmers submitted that the small business and farming banking code of practice, as recently introduced amongst the major banks, was a major step towards achieving a working relationship right from the outset, he said.

The code of practice includes a mechanism for the early warning of problems, and an independent review of the business if necessary. Voluntary mediation in a timely manner can still be entered into at any stage of the relationship, but without the costs of a statutory scheme being an additional cost on all farmers and taxpayers, he concluded.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>

ALSO:

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO: