Morneau Called “Terry the Farmer”, And Morneau Didn’t Listen
News Release – From the office of Randy Hoback, MP – September 19, 2017
On Tuesday, September 19th, Randy Hoback, Member of Parliament for Prince Albert, spoke with Saskatchewan grain farmer Terry Youzwa following his phone conversation with Finance Minister Bill Morneau. Minister Morneau referred to Mr. Youzwa as “Terry the Farmer” during today’s Question Period.
Mr. Youzwa, a constituent of Prince Albert, is an independent grain farmer from Nipawin, Saskatchewan. He is very concerned about how the Liberal government’s tax proposals will affect the intergenerational transfer and future prosperity of family farms.
Youzwa had a ten-minute conversation with Morneau, expressing his concerns about how the proposed changes would impact inter-generational farm transfers, passive interest, and land rental income.
He said that while his conversation with Minister Morneau was respectful, the Minister was more intent on explaining his changes to the tax code rather than listening to and addressing Mr. Youzwa’s concerns. In Mr. Youzwa’s opinion, there is a huge disconnect between what the Department of Finance is saying and what accountants are interpreting to be the reality after the Liberals enact their tax changes.
Mr. Youzwa believes that if these tax changes go through, it will have major ramifications on farm succession planning and intergenerational transfers.