Daniel McCullochVerified account

Nationals senator Wacka Williams says the agency is exactly what the regions are crying out for.

Labor's Murray Watt has described the proposed agency as a white elephant and exercise in pork barrelling which will deliver false hope.

Watt: "It is nothing more than pork to be followed by poverty, which is exactly what the National Party has become famous for."

Watt says it's no coincidence the proposed agency would be based in Orange, which the NSW Nationals lost in a damaging byelection last year.

Senator David Lleyenholm also comes out swinging against the Regional Investment Corporation, arguing "bleaters" should be left to go broke.

Lleyenholm: "I love Australian agriculture, and that is why I condemn this bill."

Nationals senator Barry O'Sullivan rejects idea some farmers are whingers looking for government handouts, saying they're very proud people.

O'Sullivan: the agency isn't getting new funds, but bringing existing funds under the one commonwealth roof to make it easier to administer.