The federal government says it has committed $100 million by the AgriRecovery catastrophe relief framework to serving to farmers affected by drought in Western Canada and components of Ontario.
The government says it’s nonetheless working with provincial governments of B.C., Alberta, Saskatchewan, Manitoba, and Ontario to finalize the small print of how funds will work, however sources inform RealAgriculture the primary provincial bulletins may come as quickly as Friday (August 6.)
The federal announcement additionally removes a number of the uncertainty about how catastrophe relief would proceed with the anticipation of a federal election marketing campaign starting shortly.
“Today we are announcing $100 million to add to provincial AgriRecovery initiatives, ready to be delivered as quickly as we can turn around provincial submissions, and ready to seek further funding for requests exceeding this amount,” mentioned federal Ag Minister Marie-Claude Bibeau, in an announcement issued Friday morning. “We will continue to support farm families to get them through the challenges we face today, and position them for a sustainable future, since we know climate change will continue to pose challenges.”
AgriRecovery packages are to be funded on a 60-40 cost-share foundation between the federal and provincial governments, which implies the provinces would have to collectively contribute round $67 million to unlock the $100 million in federal funding.
The federal government has sometimes budgeted round $125 million per 12 months for catastrophe relief packages underneath the AgriRecovery framework, and has already committed a few of these funds to COVID-related initiatives.
In the meantime, further areas in Western Canada and Ontario have been designated for the federal government’s Livestock Tax Deferral.
The federal and Manitoba governments additionally introduced a rise to the 2021 AgriStability interim cost from 50 to 75 per cent on Friday — a transfer that’s additionally been made in Saskatchewan and Alberta. Manitoba has additionally invoked the late sign-up provision for AgriStability.
Extra to come.