Livestock incentives going

Press, 12 February 1982, Page 10

Livestock incentives going

The Livestock Incentive Scheme will close on March 31, the general manager of the Rural Bank, Mr Ted Babe, has announced. But farmers still wishing to participate in the scheme would be considered for programmes of one, two or three years, based on and commencing from July 1, 1981 providing their applications were lodged before the closing date, he said. Mr Babe pointed out that farmers must be in possession of their properties by March 31, 1982 for their applications to be considered.

The Livestock Incentive Scheme has been remarkably successful, said Mr Babe.

Since its inception in 1976, approvals from the Rural Bank have resulted in a planned additional 9.5 million stock units. Up to December 8 last year, approximately 13,000 farmers have been assisted to a total value of $122 million. Combined with the bank's Land Development Encouragement Loan Scheme, introduced in 1978 and terminated last year, the incentive scheme has represented a significant change in Government policies for stimulating agriculture, he said. Apart from sustaining

growth in stock numbers and expanding exports, it has harnessed existing management skills while not demanding excessive capital expenditure or the use of elaborate and expensive equipment.

Now that the scheme is coming to an end those farmers who plan to make an initial application or amend an existing programme must do so before March 31, said Mr Babe.