Small farm borrowers need protection: MP

Independent federal MP Rebekha Sharkie is pushing for changes to how small primary producers get loans, in order to "level the playing field".

Small farmers should have extra protections when they take out loans because they make profits in cycles that extend over multiple years, according to an independent federal MP.

Rebekha Sharkie has presented legislation to parliament she says would even the playing field for small farmers, including by prohibiting lenders from unilaterally valuing any security given in respect of a loan.

"This is about small farming families, and we need small farming families," Ms Sharkie told parliament on Monday.


Share

1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world