Farmers to get $519m boost

The federal government will invest $519.1 million to help farmers prepare for drought, particularly in regional Western Australia and Tasmania.

The almost $520 million package will fund programs in the Future Drought Fund, which are scheduled to start on July 1.

Agriculture Minister Murray Watt said farmers around the country were one day closer to the next drought.

“We are already seeing very dry conditions in Western Australia and some parts of Tasmania,” he said.

“Time is of the essence when it comes to planning for drought, that’s why we’re investing heavily now in a new and improved Future Drought Fund.

“We’re helping farmers across the country develop business plans to manage diversification in a changing climate, we’re helping regional communities manage drought and other climate risks, and helping individuals get leadership training and mentoring.”

The $519.1 million package includes $235 million to extend the drought resilience adoption and innovation hubs, $137.4 million to improve existing programs to help farmers with business planning and financial literacy, and $120 million for trials to build long-term resilience to natural risks.

“It’s vital that we support Australian farmers and producers to be prepared for more severe weather impacts,” Prime Minister Anthony Albanese said.

“By doing the work now our rural and regional communities are not just reacting to events as they unfold but will have considered plans to make them more resilient to climate change.”

The federal funding comes after the WA government announced its own $8.6 million package for farmers impacted by drought in late April.

WA Agriculture and Food Minister Jackie Jarvis said rural communities across the state were struggling amid dry conditions.

"This significant $8.6 million support package for our primary producers will provide relief to those facing financial hardship and ensure that mental health and community wellbeing services are easily accessible across the regions," she said.