Feds, Province join in Lincoln to sign massive $1.7 billion agri-deal
Published March 2, 2023 at 9:43 am
The federal government and the province came together yesterday (March 1) in Lincoln to ink a massive $1.77 billion, five-year deal supporting the agri-food sector.
Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food and Lisa Thompson, Ontario Minister of Agriculture, Food and Rural Affair sat side-by-side at the table, signing the paperwork in the Vineland Research and Innovation Centre while Niagara Centre MP Vance Badawey and Niagara West MPP Sam Oosterhoff looked on.
The two governments negotiated what they called a Sustainable Canadian Agricultural Partnership (Sustainable CAP) for Ontario that will see upwards of $1.77 billion in support for the agri-food sector over the life of the agreement.
Through Sustainable CAP, $569 million will be invested in strategic initiatives, which is a 25 percent increase over the previous funding agreement. There will also be roughly $1.2 billion for continued, demand-driven, business risk management supports for farmers.
“Building on the leadership of industry, we can seize new opportunities that will allow farmers to contribute to food security here in Canada and around the world, all while growing their businesses,” said Bibeau.
“Our agri-food sector plays an invaluable role in this province. It is an economic powerhouse and the reliable provider of so many different, safe, high-quality and delicious foods that we all enjoy,” added Thompson.
The Sustainable CAP starts on April 1, 2023 and replaces the pre-existing Canadian Agricultural Partnership.insauga's Editorial Standards and Policies advertising