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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).
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.
In Canada, the Government of Canada makes payments to less wealthy Canadian provinces to equalize the provinces' "fiscal capacity"—their ability to generate tax revenues. In 2009–2010, six provinces received $14.2 billion in equalization payments from the federal government. [2]
The Canada Social Transfer (CST) (French: Transfert canadien en matière de programmes sociaux) is the Canadian government's transfer payment program in support of post-secondary education, social assistance, and social services, including early childhood development and early learning and childcare.
A significant portion of the financial resources of the territorial governments comes from the Canadian federal government through the TFF grant. For instance, during the 2005–06 fiscal year, TFF was approximately 61 per cent of Yukon 's, 66 per cent of the Northwest Territories ' and 81 per cent of Nunavut 's total financial resources.
The Government of Canada (French: Gouvernement du Canada) is the body responsible for the federal administration of Canada.The term Government of Canada refers specifically to the executive, which includes ministers of the Crown (together in the Cabinet) and the federal civil service (whom the Cabinet direct); it is alternatively known as His Majesty's Government (French: Gouvernement de Sa ...
The National Energy Board was an independent economic regulatory agency created in 1959 by the Government of Canada to oversee "international and inter-provincial aspects of the oil, gas and electric utility industries." [1] Its head office was located in Calgary, Alberta.
The Canadian Intergovernmental Conference Secretariat; The Canada Lands Company; The Canada Mortgage and Housing Corporation; The Canada Post Corporation; Defence Construction (1951) Ltd. Old Port of Montréal Corporation Inc. The Public Sector Pension Investment Board; Queens Quay West Land Corp. The Royal Canadian Mint