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From Banking Day:
Interest rate subsidies for select farm loans are under consideration as part of a wider review of farm finance schemes by the Australian government.
…Hockey rebuffed as “not accurate” a report in The Australian on Monday that suggested Joyce was expecting a significant default on farm sector loans and was also backing plans for a dedicated rural bank.
Joyce agreed with the treasurer. Speaking on ABC’s Q&A last night, he said the comments reported in The Australian about the formation of a Rural Reconstruction and Development Bank were made by another speaker on a panel.
…Joyce said: “The bank is more of a long-term issue to be considered in the white paper I am doing.”
Kind of backtracked.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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