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The Farm Income Support Announcement
January 14, 2000
Minister of Agriculture and Agri-Food Lyle Vanclief has announced that the federal government would invest up to $500 million a year, for two years, in a new cost-shared national disaster assistance program to help Canadian farmers.
This new investment in farm income safety nets would bring the Government of Canada's commitment to $1.1 billion per year, for two years.
With provincial contributions to these cost-sharing programs, total safety-net aid to Canadian farmers could reach $3.6 billion over the next two years, based on a 60:40 federal-provincial cost sharing ratio.
In addition, the federal government will be providing interest-free cash advances of up to $20,000 per eligible farm to help farmers – particularly in Saskatchewan and Manitoba – deal with immediate pressures as they consider their spring seeding options.
We will also be exploring other short-term measures to assist farmers, including improved access to the Net Income Stabilization Account.
The Minister will discuss these and other possible measures with his provincial colleagues in the coming days, and the new safety net framework and programs for the future will be announced as soon as agreement with the provinces is reached.
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