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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.
A formal system of equalization payments was first introduced in 1957. [7] [ Notes 1]. The original program had the goal of giving each province the same per-capita revenue as the two wealthiest provinces, Ontario and British Columbia, in three tax bases: personal income taxes, corporate income taxes and succession duties (inheritance taxes).
Equalization is intended to address fiscal disparities among Canadian provinces based on estimates of provinces' fiscal capacity—their ability to generate tax revenues. [ 5 ] The equalization program began in 1957 under Progressive Conservative Prime Minister John Diefenbaker to mitigate horizontal fiscal imbalance between provinces. [ 6 ]
Equalization payments are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services. Many federations use fiscal equalisation to reduce the inequalities in the fiscal capacities of sub ...
The 2009 Canadian federal budget allocated funds for the period covering 2009–2011: renovation and energy retrofits to social housing ($1 billion); to build housing for low-income seniors ($400 million); to build social housing for persons with disabilities ($75 million); to support social housing in the North ($200 million); low-cost loans ...
Alberta separatism comes from the belief that many Albertans hold that they are culturally and economically distinct from the rest of Canada, particularly Central Canada and Eastern Canada, because of economic imbalances whereby Alberta is a net over-contributor to the system of equalization payments in Canada. [6]
A table listing total GDP (expenditure-based), share of Canadian GDP, population, and per capita GDP in 2023. For illustrative purposes, market income (total income less government transfers) [1] per capita from tax returns is included. (The per capita, rather than per tax filer, measure is chosen for comparability with GDP per capita.)
Non-profit housing is owned and managed by private non-profit groups such as churches, ethnocultural communities or by governments. Many units are provided by community development corporations (CDCs). They use private funding and government subsidies to support a rent-geared-towards-income program for low-income tenants. [7] [8] [clarification ...