Ottawa Announces Record $24 Billion in Equalization Payments

[Epoch-Times-Bot]

Ottawa Announces Record $24 Billion in Equalization Payments

The federal government has announced it will provide a record $24 billion in equalization payments in 2023–24 with Quebec, Manitoba, and Maritime provinces being the main recipients.
Announced on Dec. 15, the latest figure of $23.96 billion represents a $2 billion increase from 2022–23.
Equalization, a federal program that sees the transfer of tax dollars collected by Ottawa from across the country to provinces with lesser ability to raise revenues at given tax rates, will also see Ontario receiving the payment though the sum is comparably lower than the other receiving provinces.
The latest information released by Finance Minister Chrystia Freeland shows that Quebec will receive the most at $14.04 billion, while Manitoba will get $3.51 billion. Nova Scotia, New Brunswick, and Prince Edward Island (PEI) will be paid $2.8 billion, $2.63 billion, and $561 million, respectively....

Source: Ottawa Announces Record $24 Billion in Equalization Payments

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