There is no debt problem for agriculture, according
to federal assistant deputy minister Tom Rosser.
He was testifying to Parliament’s politicians who
sit on an agriculture committee.
Tom Rosser said the increasing debt loads farmers
are taking on are being invested to become more competitive.
Farms are generally in a very healthy position to service
their debt, he said.
Michael Hoffort, the president and chief executive
officer at Farm Credit Canada, told the committee that rising farmland prices
are helping farm asset appreciation keep pace with farm debt levels.
FCC lending is at an all-time high.
Just what are these fellows smoking?
