MP calls for new board for farming finance

Independent MP Bob Katter has proposed laws that would create a third board at the Reserve Bank to ensure the financial sustainability of agriculture.

Australia's central bank should have a third board that can help ensure the financial sustainability and development of agricultural operations, according to independent MP Bob Katter.

Mr Katter has presented legislation to parliament that would set up the Australian Reconstruction and Development Board.

The proposal comes as much of the agricultural industry is struggling under high debt.