Archived - Letters to Provinces and Territories: Prince Edward Island 2015

The Honourable Allen F. Roach
Minister of Finance
Government of Prince Edward Island
Shaw Building, Second Floor South
95 Rochford Street
P.O. Box 2000
Charlottetown, PE C1A 7N8

Dear Colleague:

I am pleased to provide you with Prince Edward Island’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 Prince Edward Island for 2016-17 will round up to $582 million, an increase of $28.9 million from this year. The first estimates of your province’s Canada Health Transfer and Canada Social Transfer payments for 2016-17 are $147.2 million and $54.5 million respectively. In accordance with the legislated formula under the Act and its regulations, your province’s Equalization payment for 2016-17 will be $380.1 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.

Yours sincerely,

The Honourable Bill Morneau, P.C., M.P.

Major Transfer Payments for 2016-17 ($ millions) 1

Jurisdiction Equalization Territorial Formula Financing Canada Health Transfer Canada Social Transfer Total 2016-17
NL 528 195 723
PEI 380 147 54 582
NS 1,722 943 349 3,014
NB 1,708 754 279 2,741
QC 10,030 8,300 3,072 21,402
ON 2,304 13,867 5,132 21,303
MB 1,736 1,304 482 3,522
SK 1,145 424 1,568
AB 4,245 1,571 5,817
BC 4,716 1,745 6,461
YK 878 38 14 930
NWT 1,196 44 16 1,256
NU 1,462 37 14 1,514
TOTAL 17,880 3,536 36,068 13,348 70,832
1 Totals may not add due to rounding.

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