Topic
Policy & Research / Policy and Advocacy
Unpacking the Federal Budget
GrainGrowers has identified areas from the 2024-25 Federal Budget that will positively impact the grains industry and a few missed opportunities.
Future Made in Australia Policy
The Government has announced the following in the 2024-25 Budget:
➡️ $1.7 billion for the Future Made in Australia Innovation Fund to unlock private capital across new industries like liquid fuels and potentially enable manufacturing of low / no carbon fertiliser.
Supercharging Australian renewable hydrogen with:
➡️ $6.7 billion over the decade for a new production tax incentive of $2 per kilogram starting from 2027-28.
➡️ $2 billion for a new round of the successful Hydrogen Headstart program to give long-term certainty for the large-scale renewable hydrogen industry, critical for future green iron and steel opportunities.
This could have positive outcomes for growers and see investments and developments for things like low emissions fuels and green fertiliser production.
See GrainGrowers' positions and analysis:
🚜 Low Emissions Vehicles Policy
⛽ Biofuel Policy
🌱 Fertilisers of the Future
Road funding
➡️ $1.7 billion in 2033–34 to continue existing road maintenance and safety programs, including: – $1.0 billion for the Roads to Recovery Program – $200.0 million for the Safer Local Roads and Infrastructure Program – $150.0 million for the Black Spot Program
While GrainGrowers welcomes the additional funding committed in the forward estimates for local roads, this additional funding is urgently required now and rather than in 4 years.
GrainGrowers' recent ‘Connecting the Dots: Improving Australian Grain Supply Chain Efficiency’ report highlighted the impact of insufficient funding for local councils for grain freight.
See GrainGrowers' positions and analysis:
📖 Connecting the Dots report
🚚 GrainGrowers' Freight Supply Chain Policy
Stronger engagement with Southeast Asia
➡️ $505.9 million over five years from 2023–24 (and $118.3 million per year ongoing) to deepen Australia’s engagement with Southeast Asia, including measures to implement the next phase of the Government’s response to ‘Invested: Australia’s Southeast Asia Economic Strategy to 2040’
GrainGrowers welcomes funding to strengthen Australia’s engagement with the region. Southeast Asia is a crucial destination for Australian grain exports. While the region has long been a valued trading partner, increasing economic development presents a significant opportunity for future trade growth and market diversification.
See GrainGrowers' positions and analysis:
📖 GrainGrowers' recent grower delegation to Indonesia
📖GrainGrowers grower delegation to Vietnam
📖GrainGrowers submission to Australia’s Southeast Asia Economic Strategy to 2040
Sustainability
Sustainability and climate featured heavily in the 2024-25 Budget. Most significantly for growers, the Government announced the following:
➡️ $68.3 million to support the agriculture and land sectors to address climate change.
The details of the funding package were announced at last week’s National Sustainable Agriculture Summit and includes:
➡️ $30.8 million over 4 years to accelerate on-ground action to reduce agriculture and land emissions.
➡️$28.7 million over 10 years (and 0.9 million per year ongoing) to improve greenhouse gas accounting.
➡️ $4.4 million over 10 years for DAFF to become a partner to the Net Zero Emissions Agriculture Cooperative Research Centre.
GrainGrowers has been calling for standardised methodologies for greenhouse gas accounting in agriculture and are pleased to see the announcement for targeted funding in this area.
See GrainGrowers' positions and analysis:
📖 Climate Change Policy
📖 Grains Sustainability Framework
📖 Carbon and Cropping Report
Childcare
While no specific provisions are targeted at rural, regional and remote childcare, GrainGrowers welcomes the commitment towards a wage increase for early childhood educators and will be monitoring for further details.
The Government has announced the following in the 2024-25 Budget:
➡️ Wage rise for educators: The Federal Government has committed to a wage increase for early childhood educators.
➡️ Inclusion Support Program: $98.4 million in 2024–25 to help child care services increase their capacity to support inclusion of children with additional needs, through tailored support and funding to services
➡️ Early Years Strategy: $14.3 million over five years from 2024–25 to extend and expand existing community support for parents and caregivers to improve child outcomes in line with the Early Years Strategy
See GrainGrowers' positions and analysis:
📖 Early Childhood Education and Care Policy
📖 The Parenthood coalition statement
Federal Budget a missed opportunity
The federal budget is another missed opportunity to increase regional support through targeted agricultural investments directed at boosting the long-term profitability of grain farming communities.
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