Linda Reynolds (WA, Liberal Party) Share this | Hansard source

I too rise to support and heartily commend this government for this initiative, which seeks to establish the Regional Investment Corporation to support farm businesses. It is yet another example of the differences between those on the two sides of the chamber. We are committed to keeping our promises and to supporting the rural sector and also small businesses, something that those opposite continue to struggle with. As my colleague Senator McGrath highlighted to this chamber, there is absolutely no question of the value of rural and regional businesses—their huge value to the economy and also to this government—and the contribution that this government is making. Again, unlike those opposite, this government is committed to helping those in the community and helping them achieve their full potential.

Where can we see some differences and contrasts in this policy? You only have to look at the dissenting report on this bill, the Regional Investment Corporation Bill 2017, from the Labor Party. They said:

Labor Senators believe the Government has neither established a policy rationale for the establishment of RIC nor justified the cost. We recommend the Bill be rejected by the Senate on that basis.

Please! This was extensively discussed and consulted on with industry. It is very clear that this is a great investment in our farm businesses and our farming communities and in ensuring the viability and the growth of this enormous sector, a really important sector for our nation.

Where do we start? In Australia, there is absolutely no doubt that we have a highly variable climate that varies between states and between years. It is subject to extreme weather conditions. Severe droughts, as we know only too well in Western Australia—unfortunately, like other parts of the country—severely affect farm businesses and the rural sector.