Mr. Speaker, I rise today on behalf of new farmers and young farmers in my riding of Lambton--Kent--Middlesex to commend my colleague, the Minister of Agriculture, for introducing the Canadian agricultural loans bill.
Since being elected, I have been privileged to conduct a number of round table meetings with all sectors of agriculture that have provided me with important input on issues. I have heard consistently from young farmers about the challenges they face in trying to carry on the family farm.
The Canadian agricultural loans bill would allow young farmers entering the farming business and intergenerational farmers hoping to take over the family farm the opportunity to access loans of up to $500,000. These significant changes were not available under the previous program.
This is yet another example of our government's commitment to the agriculture industry and to new farmers, and our recognition of its importance to Canada.