Promises capital gains exemption for fishing assets and an increased role for provinces in fisheries

ST. JOHN’S – Conservative leader Stephen Harper today unveiled the Conservative plan to stand up for Canadian fishermen.

Our fisheries have for hundreds of years been a bedrock industry for our Atlantic provinces and for Newfoundland and Labrador in particular. “Only our party will pay attention to the needs of communities that depend on fishing – a traditional industry that remains vital to Canadian prosperity,” Harper said.

Harper promised that a Conservative government will protect the fisheries following 12 years of Liberal neglect. Conservative priorities for fishermen include assisting fishermen and giving more control over fisheries to the provinces.

The Conservatives will assist fishermen by scrapping the capital gains tax for transfers of fishing assets within a family. Tax provisions already provide a $500,000 exemption for such transfer for farmers and woodlot owners. A Conservative government will extend this exemption to fishermen and apply it to the value of fishing licences.

The Conservatives will also give the coastal provinces – particularly Newfoundland and Labrador – an increased role in the management of the fisheries. The Newfoundland and Labrador House of Assembly has requested greater involvement in the management of the fisheries around the province. This has been strongly supported by the province’s Conservative MPs.

Additional details of the Conservatives’ plan include investing more in fisheries science and research; establishing an independent judicial inquiry into the collapse of sockeye salmon stocks in the Fraser River in British Columbia; and extending the 200-mile limit to the edge of the Continental Shelf, the nose and tail of the Grand Banks, and the Flemish Cap in the North Atlantic, and exercising Canadian custodial management over this area.

A Conservative government will also reinstate local marine and aviation forecasting at the Gander Weather Centre.

“Canada needs a government for all Canadians from coast to coast,” Harper said. “A government that gives you the action you want on your priorities.”

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For further information: Conservative Party Press Office (613) 755-2191