WAFarmers supports WoolProducers Australia’s (WPA) recommendation to encourage wool growers to choose the 1.5 percent levy voting option as their first preference in the 2018 WoolPoll.
WAFarmers Livestock Council Vice President Steve McGuire said that the 1.5 percent levy rate option will provide sufficient funds for AWI to operate.
“AWI’s spending has increased from $70 million in 2015-16, $88 million in 2016-17 to a budgeted $110 million for the current financial year,” Mr McGuire said.
“AWI is proposing to maintain this $110 million expenditure over the next four years, which would mean it would be spending nearly half a billion dollars over that time.
“AWI is required to have enough reserves available to cover the winding up of the company and provision for a disease outbreak. At the end of the last financial year, the reserve amount stood at approximately $121 million.
“Even with a $10 million drop in expenditure, AWI would still have sufficient reserves to cover the statutory reserve requirements.
“WAFarmers do not think an expenditure of half a billion dollars over four years is necessary and the 1.5 percent levy rate along with Government match funding contribution plus the significant reserves held will provide sufficient funds for AWI to complete the appropriate research, development and marketing required.
“It is incredibly important, particularly this year, for all wool growers to cast their vote and not be complacent. WAFarmers strongly encourages wool growers to consider choosing as their first preference a 1.5 per cent levy rate,” Mr McGuire said.
WoolPoll is the opportunity for wool growers to have their say on what percentage of your wool income you’d like to invest in research, development and marketing undertaken by Australian Wool Innovation (AWI). Voting open on Monday 17 September and wool growers can vote online at www.woolpoll.com.au or by posting the Ballot Paper in the reply-paid envelope provided in Voter Kits.