The Victorian government is set to announce its state budget on Tuesday and Stock & Land will be present to analyse what it means for farmers and rural dwellers.
Multiple lobby groups have chirped in on what they think should be in Budget 2024 and farmer representatives bodies have been no different.
The Victorian Farmers Federation (VFF) has returned to tradition after not submitting any form of formal budget submission in 2023.
While similarly to last year, the group hadn't made available a budget submission, it has outlined a series of budget asks to Treasurer Tim Pallas.
For its ideas on where money should be spent on farmers this year, the VFF proposed the creation of an innovative capital expenditure fund.
VFF President Emma Germano said the proposal would help boost the industry's current $19.6 billion food and fibre economic export contribution.
"Victoria remains the powerhouse of Australian agriculture, indirectly employing more than 150,000 people, pouring billions into the economy and retaining the mantle of Australia's largest exporter of food and fibre products," she said.
With this in mind, Ms Germano said the government could be more "forward thinking" when it came to backing farmers.
She said an innovative capital expenditure fund would be aimed at enabling improvements in agriculture sector productivity, safety, resilience and climate change adaptation.
The fund would provide grants and low interest loans to eligible farmers to undertake on farm capital investments and improve supply chains.
Grants and loans offered under the fund could be invested in:
Capital projects to improve farm productivity, including new production equipment, upgrades and supply chain logistics;
Improvements in farm safety (for example, removing hazards, OHS training);
Projects which reduce greenhouse emissions and promote better environmental outcomes.
Administration of the fund would be undertaken by Agriculture Victoria in close consultation with the VFF and industry representatives and other government departments to ensure allocation.
Ms Germano said the idea formed part of a range of proposals submitted to the government to "rebalance the ledger" to ensure fairness and appropriate support for rural and regional Victorians.
"As a minimum, we've asked for particular funding to fix our rural roads mess, strengthen our biosecurity safety net and build government departmental capability to ensure the brakes aren't applied on the growth of our industry," she said.
"The Victorian agriculture industry outranks international education and manufacturing when it comes to export earnings.
"There's no better way to rebuild our economy and jump start productivity than investing in Victorian agriculture."
She said while the VFF was well aware of the government's debt "woes", smart investment in the growth of Victoria's agriculture industry remained one of the best ways to get back in the black.
