Letters to Provinces and Territories: Nova Scotia
The Honourable Randy Delorey, M.L.A.
Minister of Finance
Government of Nova Scotia
Provincial Building, 7th Floor
1723 Hollis Street
P.O. Box 187
Halifax, NS B3J 2N3
I am pleased to provide you with Nova Scotia’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 Nova Scotia for 2016-17 will round up to $3,014 million, an increase of $87.6 million from this year. The first estimates of your province’s Canada Health Transfer and Canada Social Transfer payments for 2016-17 are $942.8 million and $348.9 million respectively. In accordance with the legislated formula under the Act and its regulations, your province’s Equalization payment for 2016-17 will be $1,722.3 million.
As you are aware, Nova Scotia is currently eligible for a Fiscal Equalization Offset payment as part of its 2005 Offshore Agreement. The payment for 2016-17 is $33.3 million, a decrease of $3.5 million compared to 2015-16. Moreover, as you know, Nova Scotia receives an advance payment on account of the Additional Fiscal Equalization payment (also known as the “Cumulative Best-of Guarantee payment”). The preliminary estimate for fiscal year 2016-17 is $16.0 million, and the 2015-16 amount is $88.2 million.
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.|