Farmers and regional towns bracing for the next drought will receive a major boost in next week’s Federal Budget.
The Albanese Government is tipping in a record $519 million into its revamped Future Drought Fund.
The fund — established in 2019 under the former Coalition government — invests in programs to help farmers and communities prepare for the next dry spell.
Labor has restructured the fund’s objectives to recognise the role of climate change in fuelling droughts.
It follows a Productivity Commission review of the fund.
Agriculture Minister Murray Watt said there was no time to waste when planning for future droughts — with parts of Western Australia in the grip of extended dry conditions.
“Every morning when farmers around the country wake up, put their boots on and go to work, they are one day closer to the next drought,” Senator Watt said.
“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.