Encouraging Government Support for Farming

David Hall ()

Chapter Chapter 12 in Agricultural Economics and Food Policy in New Zealand, 2021, pp 169-185 from Palgrave Macmillan

Abstract: Abstract The 1970s were marked by high inflation and global economic crises. Federated Farmers proposed a cost adjustment scheme to compensate farmers for inflation, but it was ill prepared. When the 1973 oil price crisis impacted on New Zealand’s major customers, the Federation secured major subsidisation from Governments to increase farm exports. The Federation also secured support for a levy to support its activities. When export lamb prices increased, the Government asked meat and wool farmers to voluntarily deposit, temporarily, $85 million of their increased income. The Government threatened to introduce a system of reference prices for export meat with payments above the reference price diverted from farmers to a ‘stabilisation’ fund. But violent opposition by farmers was threatened and the price reference scheme was abandoned.

Keywords: Global economic crises; Increased subsidies; Restrictions on export income; Opposition to restrictions (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psachp:978-3-030-86300-5_12

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DOI: 10.1007/978-3-030-86300-5_12

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