Monday, November 14, 2011

Building a stronger primary sector

The primary sector is the backbone of our economy. National is proud to champion our farmers and growers. We’re delivering the solutions needed for an innovative, prosperous, and competitive rural sector, and we’re working hard to improve its performance.

We will establish the Crown Water Investment Company and provide up to $400 million from the Future Investment Fund to make equity investments in well-designed irrigation projects that help increase productivity, grow our rural economy, and create jobs.

We have already received proposals for our $35 million Irrigation Acceleration Fund to support the development of irrigation proposals to the ‘investment-ready’ prospectus stage.

The New Zealand Institute of Economic Research suggests this could boost exports $1.4 billion a year by 2018.

We are also reducing ACC levies for our rural businesses – including a 21.3% reduction for dairy farming and 13.8% reduction for sheep and beef farming in April 2012.

For more information, click here.

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