Prime Minister Mark Carney’s announcement of measures to transform Canada’s softwood lumber industry is being welcomed by the BC Lumber Trade Council (BCLTC) and the Council of Forest Industries (COFI).
Earlier today (Tuesday), Carney announced the federal government will:
- Provide up to $700 million in loan guarantees to address immediate pressures facing the softwood lumber sector.
- Invest $500 million to supercharge product and market diversification to make the industry more competitive for the long-term.
- Requiring companies contracting with the federal government to source Canadian lumber.
- Diversify international markets for Canada’s forest products.
- Provide $50 million for upskilling, reskilling, and income supports for affected softwood lumber workers.
“This support comes at a critical moment for forestry workers, communities, and companies across the country,” said COFI President and CEO Kim Haakstad.
“Initiatives aimed at supporting workers, fostering innovation, enhancing liquidity, and promoting export development through organizations like Canada Wood are important steps toward stabilizing the sector and supporting government efforts to build more homes for Canadians.”
“We appreciate the federal government’s recognition that support is necessary in the face of ongoing trade uncertainty,” said BCLTC President Kurt Niquidet.
“These measures are timely. We look forward to working with federal officials to ensure they are implemented quickly and effectively, and that they reflect the realities facing regions like British Columbia.”
Both organizations stated while these new supports are needed, resolving the ongoing softwood lumber dispute with the United States needs to remain a top priority for the federal government.
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