Farming Smarter, Not Harder: Securing our agricultural economy

Farming Smarter, Not Harder finds that Australian agriculture can build a lasting competitive advantage through innovation that raises agricultural productivity, reduces fuel and fertiliser dependence, and preserves the environment and resources it draws on. To achieve this, Australia needs to:

• Invest in knowledge: increase government investment in research and development by up to 7% a year; increase funding for extension programs; implement the Productivity Commission's recommendation to set up Rural Research Australia; fund the national soil health strategy with an endowment sufficient to support ongoing research and monitoring for at least 20 years.
  
  
• Stop chopping and changing support for regional natural resource management: Federal and State governments should commit to a 10-year agreement to provide stable longterm funding for regional Natural Resource Management (NRM) bodies, including specific funding to monitor long-term trends in natural resource condition.
  
  
• Enable accountable community governance of land and soil management: To enable farming communities to protect themselves from free-riding, they should be supported to develop stewardship standards based on a shared understanding of what it takes to maintain productive agricultural landscapes over the long term.
  
  
• Align financial incentives with the long-term needs of sustainable farming communities: In addition to the drought policy reforms announced on October 26, drought assistance policies should support farming communities to take a lead in preparations for more frequent and severe droughts, and should be linked to community stewardship standards.