Tag Archives: boat-building loans forgiven
Names revealed of fishermen whose $10M in debts paid by province
An investigation by Radio-Canada Acadie has revealed a list of names of crab fishermen who had their boat-building loans forgiven by the provincial government. In 2016, the public learned that from 2000 to 2008, the New Brunswick government spent approximately $10 million to erase the debts of 15 fishermen. They were given loans in the 1980s and 1990s as part of a provincial lending program organized by the department of Agriculture, Aquaculture, and Fisheries. At the time of the discovery in June 2016, the loan program, known as “Fishermen’s Loan Board” was criticized by the former executive director of the fishermen’s union, Jean St. Cyr, as a “program with good intentions, but from a financial point of view, didn’t make any sense.” continue reading the story here 10:05
