Farmers should receive financial assistance to access financial advice from the government, according to the Financial Planning Association, to help with recovery from disruption caused by droughts and other disasters.
In response to a consultation on the National Drought Agreement, the FPA argued there is a clause that states the Commonwealth, states and territories are responsible for the provision of rural financial counselling services.
FPA head of policy Ben Marshan said the complex financial arrangements farmers often have goes beyond the areas of advice that a rural financial counsellor can provide.
“When considering what assistance would be most appropriate to facilitate farming communities’ recovery from the significant economic disruption caused by drought, the FPA believes that it would be beneficial to include the provision of financial planning services,” Marshan said in a press release.
“Such support would also assist in the development of farmers, farming families and farming communities’ resilience in the face of future droughts.”
Marshan said the FPA supports the National Drought Agreement and the support it provides to all levels of government to help farmers, farming families and farming communities during periods of natural disaster.
“We also believe this review is an important opportunity to ensure that adequate and coordinated support across a broad continuum is provided in an efficient and effective fashion to those affected by drought, particularly when they most need it.”