Murray Watt (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Hansard source

Thanks again, Senator Sterle. I think you've asked five times as many questions about agriculture as the National Party have since the election, but, you know, that's just the kind of guy you are.

The latest ABARES figures show that, on the back of good conditions for the past few seasons, farm incomes are at record highs. While obviously this isn't the case for everyone, on the whole it is a good time to be in the agriculture sector. But imagine how high those incomes could have been if action was taken on climate change 20 years ago, not today. As I say, we know what difference it would have made. ABARES tells us that farm incomes have suffered by 23 per cent due to seasonal climate and weather conditions.

We also know that climate change presents an ongoing risk to farmers, especially given the inevitability that drought is around the corner. That's why having a diversified income is vital for our nation's farmers. Increased activity in the carbon market will provide that opportunity, along with the activity in the nature repair market, which will be able to happen now that Labor has introduced legislation to make it happen. (Time expired)