The Government is bringing down a Budget on 25 October 2022.
This Budget will be aimed at bringing forward funding for the Government’s priorities announced in the election campaign and on review of existing programs. Australian Grape & Wine is taking forward a very targeted ask for measures to grow demand and help growers and winemakers through the current oversupply situation facing significant sectors of the industry.
We know that the supply-demand situation is complex and different regions and different varieties present a very different picture. However, the reality is that we still have to find a home for the red wine that was formerly destined for China and are faced with freight and logistics issues, soaring input costs and labour shortages and raging inflation. Pressure will be felt right across the board in 2022-2023 and into the medium term.
However, we must be realistic and understand the Government is facing significant budgetary pressures due to the expenditure on COVID related measures and soaring national debt. While we must ensure the Government understands the problems facing the sector, we have a greater chance of more significant measures to help the sector in the May 2023 budget.