Tuesday, November 15, 2022

Supply management gets lion’s share of budget

Supply management tops the list for agriculture subsidies revealed in Finance Minister Chrystia Freeland’s economic statement.

There is provision for the final instalments of $1.7 billion worth of compensation for the trade deal with the United States and Mexico.


While dairy producers already know how much they will receive next year under the fourth compensation payment for the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) the Government intends to offer them extra funding of up to $1.2 billion over six years under the Dairy Direct Payment Program to account for the impacts of CUSMA.


There is up to $300 million for the dairy processing industry to develop more value for solids-no-fat byproducts.


For the Canadian poultry and egg producers there is an additional $112 million under the Poultry and Egg On-Farm Investment Program. Producers will receive payments based on their quota holdings to support improvements to their farm businesses. 


This funding will bring the total compensation for this sector to $803 million.


The wine industry will get $83 million per fiscal year in the next two fiscal years.


But we are desperately short of federal funds for medicare.