Secretary of State defends interests of cattle producers

QUEBEC – The Honourable Christian Paradis, Secretary of State for Agriculture, today issued the following statement after his address to Quebec cattle producers at their annual general meeting in Sainte-Foy.
calendar icon 6 April 2007
clock icon 2 minute read

“Quebec cattle producers play a very important role in the Quebec and Canadian economies. Canada’s New Government is very much aware of the difficult times faced by this industry.

“Canada’s New Government has listened to producers across the country, who have indicated that the Canadian Agricultural Income Stabilization Program does not meet their needs. In line with recommendations by industry leaders, we have made numerous improvements to risk management programs. We are determined to move forward with a new margin-based program that will better meet producers’ needs. We have reached an agreement in principle on a disaster relief framework that will be separate from income stabilization programs. We have completed the review of provincial production insurance programs and are examining the feasibility of extending coverage to livestock and additional horticultural crops.

“Our intention to support producers is firm. Budget 2007 has added investments of $1 billion across Canada, including $600 million to farmers to help them build new savings accounts, and a payment of $400 million to help producers cope with high production costs.

“To make intergenerational transfer easier, we are increasing the lifetime capital gains exemption from $500,000 to $750,000. This will have a direct impact on transfer prices, and farmers as well as small businesses in Quebec will save approximately $12.6 million.

“Our government is indeed working with the cattle industry to resolve the issues faced by this sector.”

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