The 2024 fall economic statement predicts a $61.9 billion deficit and makes little mention of agriculture.
Tag Archives federal budget
Fall economic statement fairly quiet on agriculture
Farm groups criticize capital gains inclusion rate change
Ten national organizations say several tax-related changes in the 2024 federal budget will impact farmers
In a May 27 letter to finance minister Chrystia Freeland, agriculture minister Lawrence MacAulay and national revenue minister Marie-Claude Bibeau, 10 signatories said they are concerned about the capital gains inclusion rate, the Alternative Minimum Tax (AMT) and the Canadian Entrepreneurs’ Incentive (CEI), which were all announced in April.
Federal budget draws mixed reaction from Canadian ag groups
Livestock tax deferral, capital gains exemption praised; overall lack of investment in agriculture noted
The 2024 federal budget, released Tuesday afternoon has drawn mixed reactions from ag groups across Canada. While some have praised aspects of the plan, others have condemned the lack of attention paid to agriculture and farmers.
Federal budget promises lower costs, interest relief for farmers
Budget 2024 will see approximately $52 billion spent over five years
The 2024 federal budget, tabled today, promises several benefits for Canadian farmers.
Ottawa lines up with farmers on right-to-repair
Feds to call for owners to be able to repair their own equipment
The federal government says it’s siding with Canadian farmers on the right-to-repair debate. An announcement this week from the federal government called for an adjustment to the Competition Act that would prevent manufacturers from refusing to provide the means of device and product repair in an “anti-competitive manner.” That declaration came in the government’s 2023 […] Read more
Rail interswitching expansion pilot clears Parliament
Grain handlers to press for plan to be made permanent
Last week’s passage of the 2023 federal budget starts a 90-day countdown toward an 18-month test of expanded interswitching on railways in the three Prairie provinces. Bill C-47, the government’s budget implementation bill — which was first read April 20 in the House of Commons and got third reading in the Senate and royal assent […] Read more
Feds lock in higher interest-free portion on cash advances
Budget boost in effect as of Monday
A further temporary increase to the interest-free chunk of cash advances available to Canadian farmers, as telegraphed in March’s federal budget, has now gone live. Agriculture Minister Marie-Claude Bibeau confirmed Wednesday that the interest-free limit under the Advance Payments Program (APP) for the 2023 program year is now $350,000, effective Monday (May 8). The regulatory […] Read more
Go bigger on interswitching pilot, grain groups urge Ottawa
Railways say the measure creates inefficiencies; farm groups say the opposite is true
Farm groups from across the country are asking producers to lobby federal ministers and MPs and urge them to super-size a government proposal for what’s called ‘extended interswitching.’ The measure, part of this spring’s federal budget, essentially gives grain shippers a choice in which railway they deal with (as long as the competitor’s line is […] Read more
Railways push back on feds’ proposed interswitching revival
Railways also oppose ban on replacement workers
With Easter less than two weeks away, an Easter egg in the federal government’s 2023 budget calls for a new pilot program to again provide Prairie grain shippers with extended interswitching. Finance Minister Chrystia Freeland’s budget, released Tuesday, laid out a list of investments to “further strengthen Canada’s transportation systems and supply chain infrastructure.” A […] Read more
Supply chain improvement funds pledged in federal budget
Money also added for support of TFWs, P.E.I. potato sector
The federal government’s release last week of its Emissions Reduction Plan has turned out to be the spoiler for new ag funding in Thursday’s 2022 budget — although more money is also pledged to help strengthen cross-country supply chains generally. Finance Minister Chrystia Freeland on Thursday laid out a federal budget with about $452.3 billion […] Read more
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