The Federal Budget released by the Minister of Finance, Joe Oliver on Tuesday afternoon outlined the Federal government's continued commitment to growing trade and expanding markets. These are priorities for our industry and the Canadian Pork Council.
"The Canadian swine industry is very supportive of expanding trade and cooperation activities that would help to improve the trading climate and competitiveness of Canadian Pork," stated CPC's Chair Rick Bergmann. "We are very supportive of the Canadian government's trade agenda and efforts to secure agriculture market access."
The budget contained an ongoing demonstration of a commitment to agriculture and the hog industry market development efforts. Additional investments in the Canadian Trade Commissioner Service, the Market Access Secretariat to help maintain access to new and existing markets and expanding the AgriMarketing program to promote and differentiate Canadian products will ensure that the pork industry grows while making a significant contribution to Canada's economy.
"Pork farmers from across Canada share the same abiding commitment to providing consumers a safe, nutritious and affordable food supply", added Mr. Bergmann. "Canadian pork is exported to over 140 counties and I'm pleased that we share a common interest with the federal government and commitment to enhance competitiveness, drive innovation, and promote the long-term growth and sustainability of the Canadian swine industry."
Other Highlights from the Budget of interest to pork industry
Reducing the small business tax rate from 11 per cent to 9 per cent by 2019
Increasing the lifetime Capital Gains Exemption to $1 million for farm owners
To provide manufacturers with an accelerated CCA at a rate of 50 per cent on a declining-balance basis for eligible assets acquired after 2015 and before 2026
$42 million over five years, starting in 2015-16, and $9.3 million per year there after to expand the footprint and resources of the Canadian Trade Commissioner Service
$18.1 million over two years, starting in 2016-17, to promote competitiveness and trade opportunities for the agriculture and agri-food Market Access Secretariat
$12 million over two years, starting in 2016-17, to the AgriMarketing Program to promote Canadian agricultural and agri-food products around the world
The Canadian Pork Council serves as the national voice for hog producers in Canada. A federation of nine provincial pork industry associations, our organization's purpose is to play a leadership role in achieving and maintaining a dynamic and prosperous Canadian pork sector.
Source: CPC