7 July 2000
Canadians welcome aid package

CANADIAN farmers have welcomed the news that they are to get a C$6.5 billion (2.4bn) aid package, reports the Financial Times.

Under the terms of the package, the federal government will provide C$3.3bn over three years while the provinces will contribute an additional C$2.2bn.

The deal includes cash advances, crop insurance and income stabilisation, as well as an additional level of financial assistance in the event of natural disasters.

Extreme weather, low commodity prices and subsidies provided to competitors have pushed many Canadian farms to the brink of ruin, reports the paper.

Back in January, the federal government pledged C$2.2bn over two years for farm support.

  • Financial Times page 34