Letter to Minister Freeland – Interest-free Portion of the Loans Under the Advance Payments Program

February 16, 2024 | Documents

NCFA, along industry partners, submitted a letter to Finance Minster Chrystia Freeland regarding the interest-free portion of the loans under the Advance Payments Program (APP).

We are writing to you today on behalf of Canada’s agriculture groups, who together comprise a significant part of the Canadian economy and who are contributing to domestic and global food security while being integral to the fight against climate change.

We recognize and support the temporary increases to the interest-free portion of the loans under Budgets 2022 and 2023. Now, unless permanent changes are made, the amount will revert back to $100,000. This number is unfeasible, does not account for inflation and interest-rate increases, and does not provide adequate support for Canadian producers.

Read the full letter here.