Agriculture Support

Res #: 6-05M
Number: 6
Year: 2005
Midterm: Yes
Expired: Yes
Responses Received: No
Departments: Matters Pertaining to SARM

Resolution No. 6-05M

WHEREAS, agriculture is in a crisis situation; and

WHEREAS, agriculture expenses are at record highs, debt is at high levels and commodity prices are nearing record lows relative to inflation; and

WHEREAS, a financial structure with the federal government underwriting agriculture long-term loans would add some stability to the situation; and

WHEREAS, this would allow lending institutions to lend at lower rates; and

WHEREAS, the financial institutions have stated that every 1% interest rate increase reflects over $1 billion in the agriculture economy;

THEREFORE BE IT RESOLVED, that SARM explore some of the current initiatives that are being proposed to have the federal government underwrite agriculture similar to what Canadian Mortgage and Housing Corporation does with residential financing.