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Equalization payments are further adjusted to ensure the program aligns with the overall growth of the Canadian economy (based on a three-year moving average of GDP). [ 1 ] According to the Department of Finance, "provinces get the greater of the amount they would receive by fully excluding natural resource revenues, or by excluding 50% of ...
The Canadian federal government announced in 2023-24, $94.6 billion to transfer to the provinces and territories through major transfers (Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing), direct targeted support and trust funds), a $7 billion increase from the previous year, 2022-23.
Equalization payments are one example of what are often collectively referred to in Canada as "transfer payments", a term used in other jurisdictions to refer to cash payments to individuals (see Canadian Transfer Payments). In fact, there are four types of federal transfers to provinces and territories: the Canada Health Transfer (CHT), the ...
In the face of these long-term regional disparities, the Government of Canada redistributes some of its revenues through unconditional equalization payments and finances the delivery of comparable levels of government services through the Canada Health Transfer and the Canada Social Transfer.
Section 36 enshrines in the Constitution a value of equal opportunity for the Canadian people, economic development to support that equality, and government services available for public consumption. Subsection 2 goes further in recognizing a "principle" that the federal government should ensure equalization payments.
The 1990 Canadian federal budget capped the annual growth of the Canada Assistance Plan at 5% for provinces who did not receive equalization payments [note 1] for 1990-91 and 1991-92 fiscal years. That decision was incorporated into the Government Expenditure Restraint Act (C-69) that received royal assent on 1 February 1991.
Canada's government on Monday proposed C$1.3 billion ($913.05 million) for border security after U.S. President-elect Donald Trump threatened tariffs unless Canada reduced the movement of migrants ...
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