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Big Boost For Hog Industry
QUEBEC - Christian Paradis, Secretary of State for Canadian Agriculture, has called for a one billion US$ injection to revive the pig industry.The following statement was issued after he adressed producers at the Expo-Congres du porc du Quebec 2007.
"The Quebec hog industry plays a very important role in the Quebec and Canadian economies, and Canada's New Government is very aware of the difficult times this sector faces. We are following the situation very closely.
"I would like to congratulate the Congres du porc du Quebec for all that you do to promote the hog industry's image in Quebec and Canada. You help to strengthen Canada's reputation as a producer of diverse, very high-quality, safe and innovative agri-food products.
Overall the budget fo 2007 could reach $1 billion, of which $600 million would go to farmers to kickstart new savings accounts and another $400 million to help producers deal with high production costs.
Christian Paradis said, "To make intergenerational transfer easier, we are increasing the lifetime capital gains exemption from $500,000 to $750,000. This will have a direct impact on transfer prices, and farmers as well as small businesses in Quebec will save approximately $12.6 million.
"Canada's New Government is ready to work with the hog industry to explore the best possible ways for it to resolve the issues facing this sector."
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