INDEPTH: FEDERAL BUDGET 2006
Farming, Fishing & Forestry
CBC News Online | May 2, 2006
The Conservative government used its first budget to introduce several measures aimed at the fishing, farming and forestry sectors.
They include:
- Plans for a one-time infusion of $1 billion in farm aid, plus recurring annual support of $500 million. Hit hard by low prices for their products, Canadian farms have staged protests across the country in a bid to win increased support from Ottawa. The farmers say they face a tough time competing with subsidized U.S. and European products.
- For the forestry sector, the Conservatives promised $200 million annually for two years. The money is earmarked to help the industry combat the pine beetle infestation in British Columbia, improve competitiveness and assist with worker adjustment.
- The government will give fishermen the same $500,000 lifetime capital gains exemption offered to farmers and small business owners. In addition, the government will remove the tax liability for transferring family fishing property to children.
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