This announcement is part of a larger disaster response totaling $365 million in federal-provincial cost-shared funding under the AgriRecovery Framework to help farmers and ranchers in British Columbia, Alberta and Saskatchewan with extraordinary costs due to this year's extreme weather conditions.
Producers already have access to a comprehensive suite of business risk management (BRM) programs that are the first line of defence for producers facing disasters. BRM programs include AgriStability, AgriInsurance and AgriInvest. With joint funding from the federal government and provinces, these BRM programs provide protection against different types of income and production losses.
The federal government also announced an initial list of designated regions in British Columbia, Alberta, Saskatchewan and Manitoba where livestock tax deferral has been authorized for 2023 due to extreme weather conditions.
