Sydney, 8 May, 2007:  The Australian Bankers’ Association (ABA) has welcomed the key initiatives in the 2007-08 Budget which continue the assistance to farmers and our rural communities during this prolonged drought.

The Treasurer, Peter Costello, has tonight outlined that assistance to drought affected communities continues in the form of Exceptional Circumstances payments including income support, loan assistance, counselling and support services.

Australian farmers in financial difficulties will benefit from an improved Farm Help programme that will provide an additional $92.3 million in assistance over the next four years. Farm Help assists farm families in serious financial difficulty while they take action to improve their financial prospects.

The banking sector recognises the seriousness of this drought and will continue supporting viable farmers.

David Bell, Chief Executive of the ABA, is encouraging any bank customer who is worrying about the impact of the drought on their financial position to contact their bank, if they have not already done so.

“Banks manage the impact of drought on customers on a case-by-case basis, reflecting varying impacts and options available to individual customers.  The financial position of individual customers varies and this determines the options that are available,” Mr Bell said.


For further information:

Heather Wellard
Director, Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439

ENDS