Thank you for the question.
I think maybe other witnesses have touched on elements of this, but I think we continue to see a rise in incorporation in farms for a variety of reasons, involving everything from tax planning to succession planning and other elements of that.
While there is a small percentage of farms in Canada that are currently not family-owned, we certainly appreciate the fact that family farming brings with it a whole suite of benefits for all of Canada, including the fact that was alluded to earlier wherein the retiring generation tends to extract the value they need for retirement but tries to put the farm in the next generation's hands in the best financial health possible.
For us, that's a critical element of this discussion. How do we situate the sector, based on family farming as it is today, for success into the next generation? I think there are a whole host of environmental and economic reasons why that is beneficial for all of Canada.
With these measures in place as they currently stand, we will continue to see pressure on family farms as they look to transfer into the next generation in what is already a very complicated process, having one more variable to contend with and pulling financial equity out of a sector that desperately needs it, as it is a very capital-intensive industry.