Letters to Provinces and Territories: British Columbia
The Honourable Michael de Jong, M.L.A.
Minister of Finance and Government House Leader
Government of British Columbia
P.O. Box 9048
Victoria, BC V8W 9E2
I am pleased to provide you with British Columbia’s transfer payment amounts for 2016-17.
Pursuant to the Federal-Provincial Fiscal Arrangements Act (the Act) and relevant regulations, I have completed my official determination of Equalization and Territorial Formula Financing payments for the coming year, as well as first estimates of Canada Health Transfer and Canada Social Transfer amounts for 2016-17. Next year, major transfers to all provinces and territories will reach a total of $70.8 billion.
Total major transfers to British Columbia for 2016-17 will round up to $6,461 million, an increase of $321.7 million from this year. The first estimates of your province’s Canada Health Transfer and Canada Social Transfer payments for 2016-17 are $4,715.5 million and $1,745.1 million respectively. In accordance with the legislated formula under the Act and its regulations, British Columbia does not qualify for an Equalization payment for 2016-17.
Enclosed for your information is a table presenting the 2016-17 major transfer amounts for each province and territory. It will be provided to your officials and posted on the Department of Finance’s website in advance of our December 20-21, 2015 Finance Ministers Meeting.
I look forward to working collaboratively with you in this meeting and beyond to advance our shared priorities and deliver real progress on issues that matter to Canadians. I am grateful to have this opportunity to build a greater country together, and to honour the trust that Canadians have given us.
The Honourable Bill Morneau, P.C., M.P.
|Jurisdiction||Equalization||Territorial Formula Financing||Canada Health Transfer||Canada Social Transfer||Total 2016-17|
|1 Totals may not add due to rounding.|