Loans pressure urged
Farmers eligible for drought relief should continue to apply for loans in spite of further delays to pay-outs, says the president of North Canterbury Federated Farmers, Mr Oliver Grigg. A mounting pile of applications would help pressure financiers into ensuring the money was finally paid out, he told the provincial executive yesterday.
Three unresolved areas seemed to be the cause of the latest delays in getting financial aid to farmers: the exact nature of the Government guarantee, GST, and the requirement that the loan was taken out through a single financier.
Concern was also expressed that money spent on feed before April 1 did not come under the scheme.
Mr Bernard Duncan, of Darfield, said farmers who had acted early to protect their position had now been told they had acted too early. The cutoff date should be moved from April 1 to January 1 because a large amount of stock feed had been bought during January.
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Press, 27 July 1989, Page 3
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160Loans pressure urged Press, 27 July 1989, Page 3
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