Reminder to Farmers to Respond to AgriInvest Kickstart Letters by June 30, 2008

June 10, 2008

Ottawa – Ted Menzies, Member of Parliament for Macleod and Parliamentary Secretary to the Minister of Finance, wants to remind farmers that they must respond to their AgriInvest Kickstart letters by the June 30, 2008 deadline. Farmers who don't respond by the deadline will not receive Kickstart funds.

In spring 2007, the Government of Canada announced $600 million to kick start producer accounts under AgriInvest. With AgriInvest accounts, farmers make a deposit based on a percentage of allowable net sales and receive a matching government contribution. Farmers have the choice to withdraw the money to cover small margin declines or make investments to mitigate risks or improve market income. Most producers received a letter explaining the benefits for which they were eligible.

"AgriInvest is a great initiative for Albertan farmers as it allows for a flexible program through which producers themselves manage risks,” said Menzies.

To receive AgriInvest Kickstart funds producers must respond to their letter by returning the tear-off section indicating whether they want to withdraw the funds or leave them in a government-held account, explained Menzies. The response letter must be postmarked no later than June 30, 2008.

Over 100,000 producers have responded to their letter to receive AgriInvest Kickstart funds.
For more information about AgriInvest Kickstart, farmers can visit the AgriInvest website at www.agr.gc.ca/agriinvest or contact the federal administration toll free at 1-866-367-8506.