Standardbred Canada, a member of the Canadian Federation of Agriculture (CFA), is attending the CFA Annual General Meetings this week in Ottawa.

The following are excerpts of an official statement from CFA President Ron Bonnett in reaction to the 2018 Federal Budget announced today by Finance Minister Bill Morneau.

“The Canadian Federation of Agriculture (CFA) is pleased that Budget 2018 includes moderate investments that will support the agricultural sector, but they're disappointed that the government hasn't directly followed up on the vision from last year's budget, which set ambitious targets to grow the industry for the benefit of all Canadians.

In its pre-budget submission, CFA recommended a range of strategic options to expand the sector's profitability and competitiveness – investments that would strengthen opportunities in an industry that already supports 1 in 8 Canadian jobs. However, agriculture and agri-food received relatively few mentions in the Minister's speech and budget plan.

CFA is pleased to see commitments that will modernize regulatory systems, recognize innovation, support the pursuit of new markets, and allow more access to capital for women entrepreneurs.

On small business tax reforms, CFA is pleased that changes regarding passive investment incomes have been further clarified. However, more time is needed to review the legislation with more scrutiny.

We will continue to monitor the activities of Canada's agri-food economic strategy table and other key initiatives launched in 2017 to ensure the $75 billion export target for agri-food and other growth targets are realized."

The Annual General Meeting of the CFA is being held this week in Ottawa.