Thank you, Mr. Chair.
I thank the guests for coming here today.
Mr. Easter alluded to some of the numbers that are out there on the financial situation in the industry, whether it's the higher debt load or the shortage of cashflow, especially for the hog and beef producers. I think the other thing you see when that is happening, as was mentioned, is some of the banks getting a little gun shy in making loans. I also think a lot of potential young farmers start looking at this situation and wonder if they want to get into this business.
My question is, can we have a better environment out there, especially for young farmers, to get into agriculture?
I remember a program we had before called NISA. I thought it was a really good program in which banks, farmers, and the provincial and federal governments were involved. It was like a nest egg. Everybody put into it, took out, and there was a good interest rate. I thought that was a good program where you had a bit of partnership.
Also, you see in Europe and other countries now that they have what I think they call a perpetual mortgage. For example, for a young farmer getting in, it's a $1 million or $2 million operation. The way I understand it is that the mortgage continues on with the farm; and where you have the governments, banks, and the young farmer involved, the pressure is not as much. It's not only in the interest of the young farmer, but it's also in the interest of the agriculture community and the governments that that farm is viable.
I'd like to have some comments on the NISA program that we had, but also, looking forward, are there other things out there to encourage a better financial arrangement for young people getting into farming?