HomeMy WebLinkAboutThe Goderich Signal-Star, 1980-06-04, Page 53Federation. disappointed
no federal subsidy
to assist farmers
The members of the Ont-
ario Federation of Agricul-
ture (OFA) are most disap-
pointedwith the announce-
ment by Eugene Whelan,
federal Minister of Agricul-
ture, that the -federal govern-
ment will not provide interest
rate subsidies to assist hard-
pressed Canadian farmers,
Ralph Barrie, OFA Presid-
ent, said recently.
"In both Canada and the
United States, interest rates -
are now d
— Barrie. "But this will be of
little consolation to <those
farmers and small business-
men who were driven to the
'pillion this year, from $628.5
million in 1979/80.•
"This situation must be
recitified, or Mr. Whelan's
action will prevent F.C.C.
from fulfilling its normal
mandate this year. We asked
for these' additional funds at
our meeting in Ottawa in
April. We nowexpect Mr.
Whelan to convince his Cab-
inet colleagues that our re-
quest is legitimate, and look
forward to an announcement
tum tng, said
by him in the near future."
President of the West
Wawanosh Township Feder-
ation of Agriculture, Tony
McQuail, commenting on
"They had to pay high
wipes • and are faced with
high input costs and low
commodity prices." "It is
harder and harder for farm-
ers to pay off debt," said
McQuail.
"Unless young farmers
can repay their debts, there
will be little incentive for
them to start. Whelan was
insensitive to that point."
The president of the Huron
Mlr deration of_Agriculture. .,
erle Gunby, stated,
"We're being offered an
insignificant amount of mon-
ey in relation to what other
brink of bankruptcy during Whelan's announcement, segments of the economy
a.4.4, -.441.,h -e, the- high4nteitest~eatt perioo =mrd" rerarroverledited-etir-'tet. Platri-
and who will have great major concern: our need for Credt Corporation loansll ts a
difficulty recouping their los- 'security for young farmers." turn in the wrong direction."
ses." McQuail, who accompan-
He said, the one positive ied a Huron delegation to "I do not feel apologetic in
action taken by Mr. Whelan Ottawa to meet with Whelan, asking for lower interest
was to instruct the Farm observed that the people rates from the government,"
Credit Corporation to assist- probably most hurt are those said Gunby, "because it is
hard-pressed farmer clients who started farming relative- the government policy that
by debt consolidation, and ly recently. created high interest rates."
where necessary, a morator-
ium on debt repayments for
one year.
However, Barrie said,
from $200 to $300 million
additional dollars must be
made available to F.C.C., so
it can provide this assistance
without curtailing its lending
to beginning farmers. The
funds available to F.C.C.
have been reduced to $555
The Ewe* Edit wR,1: Week of June 4, 1980 — 5
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