CANADA: Newfoundland and Labrador granted CAD 3.4 million (USD 3.20) subsidies to the processing industry

On 19 July 2009 I wrote a post on Newfound and Labrador’s crisis and about the difficulties the fisheries industry (harvesters and processors) was going through. In my post I was also referring to the fact that Mr Hedderson, the Provincial Fisheries Minister at that time, was not persuade that the public aid had to be provided to the industry.

Well, after some follow-up research on this issue I found that, in the mean time, the Provincial Government had decided to provide subsidies to this industry.

According to a news release dated 14 July 2009

“…the Provincial Government agreed to provide CAD 3.4 million in rebates and suspension of processing licensing fees for the 2008 and 2009 fishing seasons. This refund is being provided to address the fact that there are no subsidies available to the fishing industry and that the industry is facing a difficult year.”

The subsidy was granted to facilitate the conclusion of an agreement between harvested and processors on the price of shrimps.

Here is the link to the official new release:

http://www.releases.gov.nl.ca/releases/2009/fishaq/0714n06.htm

And here is the link to the press conference where Minister Hedderson announces the subsidy:

http://www.releases.gov.nl.ca/releases/2009/fishaq/0714n06_video.wmv