THIS week the NFF officially released its Budget Submission highlighting the need for any Government stimulus tackling the impact of the global financial crisis on the Australian economy to take full account of agriculture’s vital function in underpinning economic growth, prosperity, jobs and food production.
Further, the Government must focus on a strategy for addressing the short-term fiscal shot-in-the-arm necessary to bolster the economy now, but ensure that investment generates lasting growth and prosperity.
The NFF maintains that it does not have a Budget ‘wish-list’, rather a clear plan to secure the Australian economy and jobs through the global financial crisis. In doing so, ensuring Australia is front-and-centre in overcoming the world food shortage.
This is an important message, reminding people just how important agriculture is to the Australian economy. Our farm sector underpins 12% of GDP, 1.6 million Australian jobs and 20% of our national exports.
When you throw the world food shortage into the mix – which is worsening as the global population grows by 100 million people a year, while there is less land for food production – it’s a compelling case for the Australian Government to re-invest in Australia’s agricultural capacity now.
The NFF’s media release launching the Budget Submission is available at: http://www.nff.org.au/read/2464041787.html. Contact: NFF Manager – Economics and Trade, Charlie McElhone.
