Coherent Identifier About this item: 20.500.12592/n6783d

Sustainable approach to equalization

2006

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Summary

Conversely, should a new formula exclude less than the current 30 per cent of offshore revenues, the two provinces would obtain a lower share of Equalization, other provinces would get more, and the federal government would owe larger offsets.” 5 Sections 4(10) and 4(11) of the FAA regarding the election of the generic rate of 70 per cent for the inclusion of Nova Scotia offshore revenues in the e [...] As a prime example, in the current review, the Equalization Panel has been mandated by the federal government to review and provide recommendations on the allocation of shares related to the transfer program, ignoring the fundamental adequacy issue that surrounds the question of appropriate standard levels and overall size of the transfer program. [...] Conversely, should a new formula exclude less than the current 30 per cent of offshore revenues, the two provinces would obtain a lower share of Equalization, other provinces would get more, and the federal government would owe larger offsets.” 4 Sections 4(10) and 4(11) of the FAA regarding the election of the generic rate of 70 per cent for the inclusion of Nova Scotia offshore revenues in the e [...] We have agreed that in the event that operation of the equalization program results in payments to the Nova Scotia government which are less than those which it would have received had the federal government accepted the Nova Scotia proposal (attached), the federal government undertakes to remit the difference to the Nova Scotia government.” The Nova Scotia proposal was based on a 10-year phase-in [...] The form of the resolution shall be acceptable to the Parties.” The willingness of Canada to undertake an amendment to the constitution confirms that the principles of joint management and revenue sharing were fundamental to the resolution of the constitutional dispute on jurisdiction.

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health government education politics public finance economy taxation tax system canada intergovernmental fiscal relations macroeconomics tax personal income tax government budget taxes health-care further education constitution (law) province tax base equalization payments in canada equalization payments federal-provincial fiscal relations transfer payments revenue sharing offshore financial centre

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