Today, the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, announced that the Government of Canada has allocated $219 million through the AgriRecovery Framework to support farmers and ranchers in Western Canada who are dealing with extraordinary costs due to drought conditions and wildfires.
Canadian farmers and ranchers in British Columbia, Alberta and Saskatchewan have faced a number of challenges this growing season, including drought and wildfires. This funding will help them recover and ensure they have the tools they need to continue to be resilient in the face of natural disasters and extreme weather events.
Producers can also apply for interim payments through AgriStability to help them cope with immediate financial challenges. Producers have access to a comprehensive suite of Business Risk Management (BRM) programs-including AgriStability, AgriInsurance, and AgriInvest-that are the first line of defence when facing disasters.
The Government of Canada has already supported requests from British Columbia and Alberta for late participation in AgriStability, as well as requests from British Columbia and Saskatchewan to increase the interim payment rate under AgriStability from 50% to 75%. In August 2023, Minister MacAulay also highlighted federal support for British Columbia, Alberta and Saskatchewan with a 1-year adjustment to the AgriInsurance program to make more drought-damaged crops available for feed. This increased the amount of crops available for livestock producers in a time of need.
In addition to this support, on August 21, 2023, the Government of Canada announced designations in regions of British Columbia, Alberta, Saskatchewan and Manitoba for Livestock Tax Deferral for 2023 due to extreme weather conditions. The Livestock Tax Deferral provision allows livestock producers who are forced to sell all or part of their breeding herd due to drought or excess moisture to defer a portion of their income from sales until the following tax year.
