AgForce has applauded the Federal Government’s plan to help more young people break into the agriculture industry.
The $75-million Future Farmer Guarantee Scheme would be trialled over 18 months, in a bid to counteract soaring property prices.
Agriculture Minister David Littleproud says a re-elected Coalition government would act as the guarantor for 40 per cent (up to $1 million) of a commercial loan.
Applicants would need to demonstrate “on-farm experience” and have a minimum deposit.
Loans would be available for a maximum of 10 years, with the maximum loan-to-value ratio capped at 70 per cent.
AgForce has asked for bi-partisan support for the scheme, which in part came about through the ongoing work of our Ag Business Committee led by Mark Collins.
