Mr. Speaker, let us talk about what the APP program is. The APP program is a financing option, backed by the government, offered to farmers. They can borrow up to $100,000 interest free and they can borrow up to a maximum of $400,000. Those are the limits that are in place, and they were raised under this government. We listened to industry and raised those limits just a few years ago.
I want to highlight that the APP is not meant to be the only financing option open to farmers. It is meant to be an option available to farmers and it is an important one. As we discussed in committee and as we discussed one-to-one, the statistics regarding the APP are telling and they are important. Let me just give a few statistics that explain why that amendment was not passed.
Only 2% of farmers who use the APP actually reached, or desired to reach, the $400,000 threshold. The member said that many farmers would want to borrow a lot more than $400,000, but only 2%, which is in the historical data, borrow up to $400,000. We do not see the need being there.
On the first $100,000, the interest portion, about 66% of farmers seek that first $100,000. That is clearly an important component of the program, and it is remaining intact.