New Support for Farmers in Financial Crisis
The Nova Scotia government has introduced a support package for farmers adversely affected by issues surrounding the coronavirus pandemic.
While farmers have continued to produce and distribute food, the viability of their family farm operations has been put into jeopardy.
The Minister of Agriculture says, “This support package will help farmers manage risks that are currently threatening the viability of their farm operations and our food supply system. “ Keith Colwell also said, “We need a strong agriculture sector and by taking these steps, we are helping our farm families improve their competitiveness, productivity and profitability at a time of significant change.”
The Response and Mitigation Program, funded with the federal government under the Canadian Agricultural Partnership, will help food producers with the costs of meeting extra health requirements due to COVID-19, help producers get their crops to market, fund projects aimed at maintaining competitiveness, productivity, profitability, and support abattoir efficiency and development.
The two governments have agreed to increase the 2020 AgriStability interim benefit payment from 50 to 75 percent for producers. The program supports producers experiencing a large decline in farm income.
They are also providing a ten per cent discount on producers' share of AgriInsurance premiums, saving farmers from making these payments during difficult times. AgriInsurance is an insurance against natural hazards to reduce the financial impact of production losses.
For more information on support for individuals, families and businesses visit https://novascotia.ca/coronavirus/#support.
COVID-19 Response and Mitigation Program: https://novascotia.ca/coronavirus/agriculture-response-program/.
Canadian Agricultural Partnership Cost-Shared Programs in Nova Scotia: https://novascotia.ca/canadian-agricultural-partnership/.
Canadian Agricultural Partnership: https://www.agr.gc.ca/eng/about-us/key-departmental-initiatives/canadian-agricultural-partnership/?id=1461767369849.
Business Risk Management Programs under the Canadian Agricultural Partnership: https://www.agr.gc.ca/eng/about-our-department/key-departmental-initiatives/canadian-agricultural-partnership/canadian-agricultural-partnership-business-risk-management-programs-effective-april-2018/?id=1500475317828.
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