Mr. Barnett:

The hon. member for Carleton-Charlotte raised the question on which I thought the minister was confusing working capital and capital for construction of boats. I am not suggesting that we enter into a situation where it should include working capital. I agree with the minister on that point, but a few moments ago the minister said that this parallels the Small Businesses Loans Act and Farm Improvement Loans Act. If I recall correctly, the Farm Improvement Loans Act was the first of the three to be enacted. Perhaps the people in the department naturally may have felt it desirable and simpler to create a parallel piece of legislation as it applied to fishermen.

Loans Acts Amendments

I may be wrong, but I do not know of any situation in the farm industry which parallels the situation I have tried to outline in the fishing industry. I have heard farmers say they are owned by the bank, but I have not heard farmers suggest that they are owned, for example, by Canada Packers. As far as I know, Canada Packers is in business on the prairies. That firm, so far as I know, has never been in the habit of financing the capital requirements of beef growers. I may be wrong. In British Columbia there is an organization parochially known as B.C. Packers. I mention these two firms, not to single them out, but to point out that there has been in existence a different basic practice in the industry. To say arbitrarily that the Farm Improvement Loans Act-

Mr. Barnett:

Would the hon. member permit a question on that aspect?

Mr. Barnett:

On a point of order, Mr. Chairman, I thought I heard you call it ten o'clock.

Mr. Barnett:

Is the hon. member aware that figures under the Fisheries Development Act, which is a grants program, show that the proportions of funds received as between Nova Scotia fishermen and British Columbia fishermen are reversed? In point of fact, most of the fishermen in British Columbia are not eligible to receive grants under the Fisheries Development Act. This may explain their resort to borrowing.

April 11, 1974

Mr. Barnett:

Am I to assume that you were going to rise and report progress?