On August 6, the Government of Canada announced $100 million in funding towards AgriRecovery funding to help support farmers facing continued extreme weather. This funding is designed to match all provincial AgriRecovery submissions on the 60-40 cost-shared basis outlined under the Canadian Agricultural Partnership.
OFA appreciates actions taken by the Canadian Government and believes this funding will ensure our farmers don’t lose their livelihood, and that Canada’s food supply is not disrupted. We will continue to engage in discussions with government to ensure our farmers have access to the assistance they need in these difficult times.
The government also announced the designation for Livestock Tax Deferral of additional prescribed drought regions in British Columbia, Alberta, Saskatchewan and Ontario. This designation will allow beef producers who are forced to sell a significant amount of their breeding herd due to drought conditions to offset the resulting revenues with the costs to replace the herd.
OFA is pleased to see the Livestock Tax Deferral offered to farmers in Northwestern Ontario. This designation will help support our beef producers and help offset costs that occurred due to extreme weather and drought.