Trudeau Announces New Aid for Fisheries

Prime Minister Justin Trudeau has announced $469.4 million in aid for fish harvesters unable to access currently available measures.

“Fish harvesters work hard to provide Canadians with nutritious food to put on their tables, and are a vital part of our food supply from coast to coast to coast,” Trudeau said. The funding will be used as follows:

• Launch the Fish Harvester Benefit, a program worth up to $267.6 million, to help provide income support for this year’s fishing seasons to eligible self-employed fish harvesters and sharespersons crew who cannot access the Canada Emergency Wage Subsidy. Support will be provided to those that experience fishing income declines of greater than 25 per cent in the 2020 tax year, compared with a reference period to be identified. This measure covers 75 per cent of fishing income losses beyond a 25 per cent income decline threshold, up to a maximum individual entitlement equivalent to what is provided under the Canada Emergency Wage Subsidy ($847 per week for up to 12 weeks).
• Launch the Fish Harvester Grant, a program worth up to $201.8 million, to provide grants to help fish harvesters impacted by the COVID-19 pandemic, and who are ineligible for the Canada Emergency Business Account or equivalent measures. This will give them more liquidity to address non-deferrable business costs. The program would provide non-repayable support of up to $10,000 to self-employed fish harvesters with a valid fishing licence. Size of the non-repayable support will vary depending on the level of fish harvesters’ historic revenue.
• Propose measures or changes to Employment Insurance (EI) that would allow self-employed fish harvesters and sharespersons to access EI benefits on the basis of insurable earnings from previous seasons (winter and summer claims).

These measures build on $62.5 million Canadian Seafood Stabilization fund announced last month.