Quebec tables fifth straight balanced budget with leftover billions from Liberals

[jazz]

Yup that's how ugly this country really is. Liberals cant change the law, bribe the AG so they will use AB equalization money to save SNC.

https://www.bnnbloomberg.ca/quebec-tables-fifth-straight-balanced-budget-with-leftover-billions-from-liberals-1.1232745 Quebec tables fifth straight balanced budget with leftover billions from Liberals

[Guest]

might have to bail out bombardier also . fox guarding the henhouse might not pan out that good .

[westernvicki]

The RPC theme was the west wants in: wonder if the same convention was held today what that platform would be?

[bucket]

The RPC theme was the west wants in: wonder if the same convention was held today what that platform would be?

My guess is the west wants out.....

[Rareearth]

Wikipedia says Quebec will get 13 billion dollars this year

[chuckChuck]

https://www.fin.gc.ca/fedprov/mtp-eng.asp#Alberta

Federal Support to Provinces and Territories

In total Federal transfers, $37.581 Billion of the of the $78.6 Billion Federal transfer programs go to have provinces. Ontario is a have province along with SK, NF, AB, BC

The equalization program is $19.837 billion, Health $40.373 billion, Social $14.586 billion, Territorial Financing $3.948 Billion

Alberta will get $6.4 billion in transfers from the federal government in 2019/2020 for Health and Social Transfers.

In total per capita transfers including Equalization, Health and Social Transfers, Manitoba gets more than Quebec. Ontario gets the same as Alberta. The big receivers are the northern territories and New Brunswick, PEI, Nova Scotia


Total per capita transfers to each province in 2019/2020 are
Man -3111
QC - 3013
NB -4078
NS - 3484
PEI - 4160
NF - 1465
Ont -1465
SK - 1465
AB - 1465
BC -1465
YK - 25650
NWT - 30704
NU 43790

[beaverdam]

Your only telling half the storey, Now tell us how much money each province has paid into equalization?

[furrowtickler]

[AlbertaFarmer5]

Total per capita transfers to each province in 2019/2020 are
Man -3111
QC - 3013
NB -4078
NS - 3484
PEI - 4160
NF - 1465
Ont -1465
SK - 1465
AB - 1465
BC -1465
YK - 25650
NWT - 30704
NU 43790

So, for a family of 4, Nunavat will receive the equivalent of $175,000. Yet we keep hearing about poor living conditions, no drinking water, poor healthcare etc. For $175,000 we could buy that same family a home in the south, move them and their belongings to where there are jobs, healthcare, cheap food and supplies, and we would never need to spend that again.

[chuckChuck]

https://www.theglobeandmail.com/opinion/dont-blame-equalization-for-albertas-fiscal-mess/article36680619/

Don’t blame equalization for Alberta’s fiscal messby Trevor Tombe

"It's true there are large regional transfers in Canada. Between 2007 and 2015, federal revenue from individuals and businesses in Alberta exceeded federal spending in the province by $221-billion – an average of nearly $25-billion a year, or about 8 per cent of GDP. These are big numbers, but have almost nothing to do with equalization.

So why does Alberta pay more and receive less? For the most part, it's not due to unequal treatment. Alberta shoppers face the same GST here as elsewhere; businesses, the same federal corporate-tax rate; individuals (for the most part), the same federal income-tax rates. Instead, it's due primarily to unequal circumstances.

We're young and rich. One in eight Albertans older than 15 earns more than $100,000 a year, according to the latest census. With only 11 per cent of Canada's population, Alberta is home to 21 per cent of Canada's $100,000-plus earners and to a roughly similar share of Canada's corporate taxable income. High incomes mean high income tax payments and more spending means more GST payments. And with the smallest share of people older than 65, fewer CPP and OAS recipients live here. Over all, of the $27-billion net outflows in 2015, roughly $19-billion can be accounted for by good things (high income, young population, etc).

What about equalization? If the program was cancelled and all proceeds returned in equal per-person payments nationally, Alberta's $27-billion gap in 2015 would only fall to $25-billion.

Would excluding non-renewable resource revenue help? No. Alberta would still receive nothing, and Quebec would receive more. A lot more. I estimate its payment in 2017-18 would increase by $1.6-billion to nearly $12.7-billion. This is, presumably, the opposite effect that proponents of such a measure want. (This is due to the so-called "fiscal capacity cap," among other things, although the details don't concern us here.)"

[chuckChuck]

Distribution of Federal Revenues and Expenditures by Province
In Brief
Sirina Kerim‑Dikeni, Economics, Resources and International Affairs Division
2018-05-24

https://lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201701E


Unpacking Canada’s Equalization Payments for 2018-19 by Trevor Tombe

https://www.policyschool.ca/unpacking-canadas-equalization-payments-2018-19/

"Equalization is complicated. And for detailed inner workings of the program, interested readers should see this report from the School of Public Policy and this one from the Parliamentary Budget Office. But the basics are fairly straightforward.

Equalization is a federal program that transfers federal funds to provinces with below average capacities to raise revenues. Provinces with stronger economies, and with high income households and businesses, raise more revenue for any given tax rate than provinces with lower incomes. This is true not just of personal and business income taxes, but also of sales and property taxes. Importantly, resource revenues like oil and gas royalties also go into the formula, but only 50% count in the formula (to preserve the incentive to develop a province’s resources).

With all this in mind, equalization asks a simple question: How much revenue would each province raise with tax rates equal to the national average? This is a province’s “fiscal capacity”. If a province would raise less than the average amount, per person, the federal government tops it up. I illustrate the 2018/19 results below."

[westernvicki]

Dear Up Chuck;

The formula is flawed which is why this administration renewed it without negotiation.

Vicki