Farmers get hog loans of $1.3 million

PRINCE EDWARD ISLAND - A loan program to support hog producers who were experiencing difficulties because of depressed market conditions cost Island taxpayers nearly $1.3 million.

Premier Pat Binns’ cabinet approved two special warrants — or spending not approved in its budget — to cover the new loan program announced in April.

The special warrants were approved this month. The first was for $750,000 and the second was for $515,000.

But Provincial Treasurer Mitch Murphy said there will be no additional costs to the province’s bottom line. He said the money is being transferred from the general government budget to the Department of Agriculture.

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Source: The Guardian

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