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You can find the current article at its original source at http://www.theguardian.com/world/2014/may/01/abolish-low-interest-farm-loans-and-scale-back-disaster-relief-audit-recommends
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| Abolish low-interest farm loans and scale back disaster relief, says audit | Abolish low-interest farm loans and scale back disaster relief, says audit |
| (35 minutes later) | |
| The | The |
| government should abolish low interest loans for farmers except in the case of | government should abolish low interest loans for farmers except in the case of |
| drought relief and should pare back disaster relief payments, according to the Commission of Audit. | drought relief and should pare back disaster relief payments, according to the Commission of Audit. |
| It would also cut funding for the Rural Research and Development Corporation, which is jointly funded by government and industry. | |
| The | The |
| Farm Finance Concessional Loans Scheme was introduced under Labor to help | Farm Finance Concessional Loans Scheme was introduced under Labor to help |
| farmers improve their productivity and restructure business. Interest is | farmers improve their productivity and restructure business. Interest is |
| currently charged at 4.5%. | currently charged at 4.5%. |
| This | This |
| is separate to the recently announced – and yet to start – drought concessional | is separate to the recently announced – and yet to start – drought concessional |
| loans, which will be offered at an interest rate of 4%. | loans, which will be offered at an interest rate of 4%. |
| The | The |
| commission also recommends a restructure of disaster relief which if | commission also recommends a restructure of disaster relief which if |
| implemented would see the end of a Newstart-style payment to employees, small | implemented would see the end of a Newstart-style payment to employees, small |
| business and farmers for loss of income for up to 13 weeks. The Disaster | business and farmers for loss of income for up to 13 weeks. The Disaster |
| Recovery Allowance is designed to provide short-term income support. | Recovery Allowance is designed to provide short-term income support. |
| The | The |
| commission says the payment provides “poor signals to employers to undertake | commission says the payment provides “poor signals to employers to undertake |
| better business and risk planning”. | better business and risk planning”. |
| The | The |
| commission would also abolish the commonwealth’s Natural Disaster Relief and | commission would also abolish the commonwealth’s Natural Disaster Relief and |
| Recovery Arrangements on the grounds that it duplicates state responsibilities. | Recovery Arrangements on the grounds that it duplicates state responsibilities. |
| They | They |
| recommend instead one-off grant payments on per-disaster basis. Due to recent | recommend instead one-off grant payments on per-disaster basis. Due to recent |
| disasters, the commission says “large and volatile expenditure poses | disasters, the commission says “large and volatile expenditure poses |
| significant and on-going risks to the budget”. | significant and on-going risks to the budget”. |
| It | It |
| suggests the disaster grants based on each disaster paid at between 25-33% of | suggests the disaster grants based on each disaster paid at between 25-33% of |
| estimated reconstruction costs. | estimated reconstruction costs. |