Reducing Red Tape for Beef Farmers
Changes to loan program will save beef producers time, frustration and money
TORONTO - Today, Ernie Hardeman, Minister of Agriculture, Food and Rural Affairs, announced changes to a key lending program to help farmers, and further reduce excessive red tape in the agriculture sector.
Improvements to the Feeder Cattle Loan Guarantee Program were announced in an address by Minister Hardeman at the Beef Farmers of Ontario's Annual General Meeting.
The changes would reduce unnecessary and costly credit checks in the program, which will save co-ops time and money. The revisions would also streamline the transfer of ownership of livestock once a loan is paid off. They are the result of listening closely to beef farmers, hearing their concerns and acting on their ideas to fix long-standing issues with the program.
"Our government wants to help these hard-working farmers focus on growing their businesses," said Minister Hardeman. "One way that we're doing this is by introducing changes to the Feeder Cattle Loan Guarantee Program that will reduce red tape and overall costs for co-ops, resulting in a better program for our farmers."
In addition, as part of the Restoring Ontario's Competitiveness Act, the government has proposed changes to the Ministry of Agriculture, Food and Rural Affairs Act that, if passed, would allow future program changes to be made faster.
Ontario's beef farmers are among the many impacted by out of date and unnecessary government red tape that's adding to their operating costs and hurting their competitiveness
These new changes add to the more than 30 red tape and regulatory reductions recently announced by the government to reduce the burden on job creators while protecting our environment and maintaining rules that keep Ontarians safe and healthy.
These changes are part of the government's multi-year Ontario Open for Business Action Plan, which is tackling the red tape that's driving jobs and investment out of the province. The plan includes a target to reduce regulatory red tape affecting businesses by 25 per cent.
- There are an estimated 19,000 beef farmers in Ontario.
- The Feeder Cattle Loan Guarantee Program supports feeder cattle producers by offering short-term loans at below-market rates – based on the strength of a 25 per cent loan guarantee by the provincial government.
- There have been no claims against the government’s loan guarantee program in its 28-year history.
- The Restoring Ontario’s Competitiveness Act is the second in a series of bills targeted at getting government out of the way of the job creators. It followed the introduction and passage of the Making Ontario Open for Business Act last fall.