From 1 July, financial institutions will now be required to engage in a formal mediation process with debt-stressed Queensland farmers before starting any enforcement actions.
In response to the findings of the Rural Debt and Drought Taskforce, the government has introduced the Farm Business Debt Mediation framework, which is aimed at providing farmers and credit providers with a formal process for the efficient and equitable resolution of farm debt disputes.
In this episode, Trent Thorne speaks to John Simpson from the Queensland Rural Adjustment Authority on the new Farm Debt Mediation framework.