FFAW Submits Economic Support Proposal to Federal Minister of Fisheries
April 24, 2020
The Economic Support Proposal is requesting that the Government of Canada implement a multi-faceted and targeted program of financial assistance to address the three key economic challenges that the NL fishing industry will face over the next year due to the COVID-19 pandemic. The proposal’s three core program elements include: Income Support, Fishing Enterprise Viability and Fishing Enterprise Liquidity.
Within each of these elements, we are requesting that a range of program supports be introduced to address shortfalls and gaps in Canada’s COVID-19 Economic Response Plan. These shortfalls are largely due to fact that the timing of the pandemic (i.e. at the start of and during the peak of key fisheries) will exacerbate the magnitude and extend the duration of the negative economic impact on the NL fishing industry.