The Agriculture portion of the Provincial Budget saw an increase, with agriculture spending pegged at $462.4 million, up from $386.9 million last year.
The increase in spending covers a number of key areas, with the majority or about $70 million dollars designated for crop insurance premium costs.
According to the budget estimates AgriStability costs are expected to be down slightly dropping from $25.3 million last year to about $24.6 million, meantime there's an increase with AgriInvest costs going from $35.7 million to $39.8 million.
Provincial Agriculture Minister David Marit notes they've made some other key changes that will benefit producers, like taking the digging of dugouts out of the PST.
"They'll be exempted from PST now, but there is an additional $2.5 million for support for the irrigation development fund. Really what that is, is irrigation projects where farmers or ranchers want to look at irrigation projects outside of the irrigation districts. So we have a fund there, where it is capped, but it allows anyone that's looking at it, the opportunity to apply and receive pretty significant dollars through this program."
The Province is also doubling the funding for the Animal Protection Services of Saskatchewan to $1.6 million.
"Last year, it was $800,000, and we're doubling that to $1.6 million this year. Just for control of animals, and obviously, we've had some concerns, both from a livestock and pet side as well on that one."
He says the overall agriculture budget earmarks just under $34 million for research, including new funding of $2 million dollars for the Global Institute for Food Security.
"That's really to work with the ag industry and work with all parties, to really work on the communication strategy to improve the environmental outcomes."
Other key areas that will no doubt benefit agriculture include the $3.1million to fully fund Saskatchewan’s international trade and investment strategy, which includes the new trade offices in the
United Kingdom, United Arab Emirates, Mexico and Vietnam.
Saskatchewan's Value-Added Agriculture incentive is being enhanced.
The province also highlighting Saskatchewan’s favourable investment climate which has resulted in $13.6 billion in new private investment in major projects like the new and expanded canola crush facilities, a new potash mine project, a wheat based pulp plant, a renewable diesel facility and more.
The budget also includes $475 thousand dollars to create the Saskatchewan Indigenous Investment Finance Corporation.
The corporation will offer up to $75 million in loan guarantees for private sector lending to Indigenous communities and organizations for investments into natural resource and value-added agriculture projects.
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