The Opposition Progressive Conservatives on Prince Edward Island unveiled a plan Wednesday they say farmers need to help weather an economic storm.
The multimillion-dollar Tory plan would waive farm property taxes for two years, provide rebates on diesel fuel and offer other financial incentives.
"Whenever you have a downturn in a sector it's the role of government to partner with that sector to work with them and weather a storm," said industry critic Mike Currie.
Farmers with livestock have been facing particularly hard times. Feed prices are rising as grain is used for ethanol production. At the same time international competition is lowering prices for hogs and cattle. Hog farmers will face additional difficulty this month with the closing of the Island's hog plant.
From 2002 to 2007 it's estimated the number of hog farms on the Island dropped from 400 to 75.
$7.5M tab for plan
"We've been listening to the farmers and especially the business community in the last little while and there's a great deal of concern out there," said Currie.
"We have come up with some solutions that we feel might jump-start the agricultural community for this coming year."
In total the aid package would cost taxpayers about $7.5 million. Currie said the crisis has almost reached a point where the government can't afford not to do this.
The Tories would also like to see government bring in a moratorium on all farm foreclosures for two years, as well as allow farmers to pay just the interest on farm-related loans.
Opposition leader Olive Crane said she hasn't yet approached government with her party's ideas.
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Adam Affleck
Charlottetown Remax Realty
Remax PEI
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