Meat & Livestock News

Inquiry Into Rural Banking on the Horizon

TL;DR: Parliament considers inquiry into rural banking disparities, responding to farmers’ growing frustrations and advocacy efforts.

Farmers may finally see an inquiry into rural banking practices.

Parliament’s primary production committee has initiated a briefing to explore farmers’ concerns with banking.

Mark Cameron, a dairy farmer and committee chair, confirmed the action, noting the gap between rural and urban banking services.

“This move is a response to farmers’ growing frustrations,” said Cameron, highlighting the effort to address these disparities.

Federated Farmers see this as a victory for their advocacy.

“We’ve been advocating for this since last September. It’s encouraging to see action being taken,” stated Richard McIntyre, Feds dairy chair.

Though not yet a full inquiry, this step allows for a closer examination of the issues.

“Our surveys show a decline in farmer satisfaction with banks,” McIntyre noted, emphasising the urgency for a review.

As discussions begin, Federated Farmers vows to be a strong voice for its members, aiming to shed light on and address these banking challenges.