Farm income increase cloaks danger signals

© AgMedia Inc.

Current farm debt loads could mean trouble if interest rates begin to rise, warns Canadian Federation of Agriculture president


The report glosses over a major problem society is facing.

By some accounts, farm debt has more than doubled since 2006. It would appear that the debt is some what manageable at this time as the BOC has suppressed interest rates to ease through the recession.

The other factor is the actual farm programs and how they are implemented and treated. i.e. RMP in Ontario is an advance on AgriStability. Farmers pay for 2 programs but are entitled to collect once if needed.

FIPA underwent an audit and it was found not to be living up to the spirit of the program and failed the needs of farmers especially in regards to generational roll-over.

It would appear that government farm loans (programs) have become predatory, turning a generation of farmers into debtor slaves which in turn will create a socially horrible epidemic.

The Minister, as well as the farm organizations, are failing to do their part in protecting our domestic society when they allow the domestic producer to become disseminated by financial entrapment.

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