APPENDIX IV APPENDIX IV 
fishing vessel at least 35 feet in length. Provincial govern- 
ments also provide subsidies and loans of varying amounts ONS 
vessel construction. In fiscal year 1973-74, the Fisheries 
and Marine Service paid about $9 million in subsidies for 
about 456 vessels. Another $5 million was paid in fiscal 
year 1974-75 for about 269 vessels. 
The Fishing Vessel Insurance Plan provides coverage 
for fishing vessels at below-market interest rates. In 
fiscal year 1974-75, about 8,000 vessels were insured under 
this plan. Revenues from premiums as of April 1976 exceeded 
claims by about $4 million. 
The Fish Chilling Assistance Program came into effect 
in 1973. The objective of this program is to minimize fish 
deterioration by providing assistance for additional ice- 
making and ice-storage facilities at processing plants and 
for refrigeration on fishing vessels. Assistance amounting 
to 50 percent of cost, not to exceed $25,500 for any one 
facility, is provided. The cost of approved installations 
totaled about $2 million as of March 31, 1975. 
The Fisheries Prices Support Board, under the Fisheries 
and Marine Service, is designed to protect fishermen against 
sharp declines in prices and consequent loss of income due 
to causes beyond the control of the fishermen or the in- 
dustry. The Board has a working capital fund of about $25 
million to support prices of fishery products when there is 
a decline. Several programs have provided assistance to 
alleviate severely depressed market conditions. 
In the fall of 1974, the Government spent about $15 
million in an initial attempt to assist the fishing industry 
by providing working capital loans and assistance for in- 
ventory financing and product promotion. An additional $20 
million was authorized in December 1974 to keep the ground- 
fish industry in operation during the winter months by (1) 
partially offsetting rapidly rising costs for fishermen and 
(2) assisting processors in keeping plants operational. 
This program terminated on April 30, 1975.. On May 1, 1975, 
a new $51 million subsidy program went into effect. Its 
major components were as follows: 
--Support to groundfish fishermen owning vessels and 
landing high-quality fish ($29 million). 
--Assistance to processing plants which maintain July 
i, 9/4, pruLces for fishermen: -(Si2. mil aon). 
294 
