SoVote

Decentralized Democracy
  • Jun/2/22 2:00:00 p.m.

Hon. Marie-Claude Bibeau, P.C., M.P., Minister of Agriculture and Agri-Food: Thank you, senator. Actually, we have increased AgriStability in the last year and a half. To increase AgriStability and to make it more timely, affordable, bankable and understandable, we have to do it in collaboration with the provinces, because these programs are funded 60% by the federal government, 40% by the provinces. We need two thirds of the provinces to be able to make significant changes to this program.

We did remove the reference margin limit, which was one element in AgriStability that made the program more difficult to understand and, therefore, less bankable. We made this important change that represents $95 million more per year for our farmers who need it the most.

The federal government has put in a contribution of $46 million that we could have put in place to improve AgriStability more by increasing the compensation rate from 70% to 80%. Unfortunately, we did not get the support of enough provinces to make this happen.

I can tell you that the business risk management program is doing better than it was before we arrived. Our government has increased financing to the business risk management programs, and we are, right now, in negotiations with the provinces for the next partnership agreement.

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