Agriculture and Forestry Minister Eric Hammill said today that Prince Edward Island farmers affected by significant income losses will benefit from up to $12 million under the two-year Agricultural Income Disaster Assistance (AIDA) program announced today in Victoria, British Columbia. Details of the program were announced following a meeting of the federal, provincial and territorial agriculture ministers.
Mr. Hammill said his department's major objective is to deliver the program funds as soon as possible. "The department has been responding to the significant losses many farmers have been experiencing through a range of interim measures," said Mr. Hammill. "Now that federal funding is firmly in place, we are in a position to quickly address the income needs of farmers through our existing disaster insurance program."
Mr. Hammill said the Government of Canada will deliver its share of the up to $1.5 billion AIDA program directly to his department. Because the department already has an income disaster program in place, delivery of funding will build on the existing application processes in order to reduce duplication and allow farmers to apply to one program. The federal funding delivered to provinces with an existing income disaster program will be based on consistent national AIDA program requirements.
Mr. Hammill said that producers of all commodities will be covered under the program. Maximum coverage will not exceed 70 percent of gross margins averaged over the three previous years.
Agriculture and Agri-Food Canada Minister Lyle Vanclief said he was pleased to be able to provide farmers with the final program details. "Today is a very significant day for farmers in Canada, who through no fault of their own, have seen their incomes drop," said Mr. Vanclief. "We announced in December the Government of Canada was responding to the crisis with $900 million. Today, with the support of provincial partners like Prince Edward Island, we are ready to proceed with the delivery of up to $1.5 billion to Canada's farming families."