Wednesday, February 28, 2024

MacAulay powerless on advance loans


 

Federal Agriculture Minister Lawrence MacAulay told the annual meeting of the Canadian Federation of Agricculture he’s powerless on restoring the interest-free portion of advance payments to $350,000.


It has been cut to $100,000, but the loan limit remains at $1 million.


When he was asked about restoring the interest-free portion, MacAulay answered “Perhaps the government can. I can’t.”


It was delegate Ethan Wallace who put MacAulay on the spot.


MacAulay did say he will push for restoring the benefit every chance he gets.


Apparantly it is the Finance Department that decides.