Since other resolutions have been read I should like to read this one. It will take me only a minute.
For income tax purposes farmers' incomes must be paid on a five-year income average, and any incomes used to make payment in respect of principal on the home half-section of land and interest (other than debts incurred for normal current living expenses) to rank as production costs and shall be exempt from income tax. Payments made out of current farm income on all debts incurred prior to crop year 1939-40 to be exempt from income tax.
At the present time I will say no more than to associate myself with hon. members who have already spoken; but when the time comes for the regular discussion of this matter I shall probably have a great deal to say, because much must be said if the production of food in this country is not going to be lessened to a dangerous degree.