Province Meets Commitment for Farm Income Support

AGRICULTURE/FISHERIES--Province Meets Commitment for Farm Income Support

Nova Scotia farmers will see a $2.5-million boost as part of the province's commitment to a national agriculture program. Agriculture and Fisheries Minister Ernest Fage made the announcement today, Oct. 16.

"When we signed on to the national Agriculture Policy Framework program we committed to working with farmers to see them through a transition period until the newer-generation risk-management programs are finalized. This money is part of the province's commitment to a national agriculture program," said Mr. Fage.

The $2.5 million in provincial money will be in addition to the $3.5 million of federal money already announced for Nova Scotia.

At a conference in Halifax in June, the federal, provincial and territorial ministers of agriculture signed a national Agriculture Policy Framework agreement to better prepare the Canadian agriculture and agri-food sector to move into the 21st century. They pledged to develop a framework made up of five elements: food safety and food quality; environment; science and innovation; renewal; and business risk management.

Last week the federal government announced that farmers across Canada will receive a boost in their Net Income Stabilization Accounts (NISA) with the first $600 million of a $1.5 billion federal investment in agriculture. This year's $600-million payment will help farmers across Canada deal with challenges and the transition to more effective risk-management programs under the Agriculture Policy Framework.

To receive the federal transitional funding and provincial matching contribution, farmers must have a NISA account. Farmers without an account can enroll in the program by filing a NISA application before Dec. 31 and opening an account at a participating financial institution where their NISA funds will be held.

There are about 1,200 NISA participants in Nova Scotia from various sectors.

"I encourage producers to open a NISA account if they have not already done so, as it is the only way to access these federal-provincial funds," said Mr. Fage. "Programs such as NISA give farmers income stability and allow them to make an investment in their future."

Basing payments on eligible net sales will allow payments to be calculated fairly quickly and funds will begin flowing into producers' accounts before year end.

Program participants will be notified through the Deposit/Withdrawal Options Notice of their withdrawal entitlements. If producers are entitled to withdraw from the account the NISA administration will respond within 30 days to the producer's request for the funds.

The provincial portion of this funding is included in the Department of Agriculture and Fisheries budget for 2002-03.

Any questions regarding funding through the NISA program can be directed to the Nova Scotia Department of Agriculture and Fisheries at 902-893-6374 or to NISA directly at 1-800-665-6472.