Thursday, May 18, 2017

Bureaucrat sees no debt problem

There is no debt problem for agriculture, according to federal assistant deputy minister Tom Rosser.

He was testifying to Parliament’s politicians who sit on an agriculture committee.

Tom Rosser said the increasing debt loads farmers are taking on are being invested to become more competitive.

Farms are generally in a very healthy position to service their debt, he said.

Michael Hoffort, the president and chief executive officer at Farm Credit Canada, told the committee that rising farmland prices are helping farm asset appreciation keep pace with farm debt levels.

FCC lending is at an all-time high.

Just what are these fellows smoking?