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

 

Freeze Wool Board Reserves - Meat & Wool Section

The Meat and Wool Section of Federated Farmers shares MP Owen Jennings' concern about Wool Board plans for the future of the Wool Board's Reserves.

The Board has advised the Meat and Wool section that they intend to reconstitute the Board into an Incorporated Society.

"There may be justification for such a move. However, we consider that such a move is premature given the uncertainty surrounding the Board's future. Similarly we consider any other long-term commitment of growers money is ill advised," said Section Chairman Chris Lester.

"During recent meetings, the Board has asked growers for approval to use part of the reserves as venture capital in the processing and marketing chain. I do not believe that they have the required mandate for this proposal."

"Wool Board Chairman Bruce Munro believes that the Board should involve itself in biotechnology research and development on farmers' behalf. Again, the Board must realise that they have no such mandate to spend farmers' money on such non-core activities."

"The Meat and Wool Section's view is that growers must call the shots, not the Board. The only way to achieve this is through the deregulation process. This will involve repealing the existing Board statute and adopting processes which utilise the fundamental principles contained in the Commodity Levies Act 1993."

"Most importantly, this will involve a referendum which provides the opportunity for grower levy payers to "call the shots", as Mr Jennings aptly puts it."

"The reserves are the property of wool growers. The Board has no farmer mandate to determine the destiny of those reserves. Our policy, which is widely supported by farmers, is that the reserves should be "frozen" throughout the reform process. Once the future shape of any industry organisation is known, the debate about how to use the reserves should occur," concluded Mr Lester.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: