Archived - Letters to Provinces and Territories: Nova Scotia 2017

The Honourable Karen Casey, M.L.A.
Minister of Finance
Government of Nova Scotia
Provincial Building, 7^th Floor
1723 Hollis Street
P.O. Box 187
Halifax, NS B3J 2N3

Dear Colleague:

I look forward to welcoming you to the annual meeting of Federal, Provincial and Territorial Finance Ministers in Ottawa.

In the meantime, I am pleased to provide you with Nova Scotia's transfer payment amounts for 2018-19 in accordance with the Federal-Provincial Fiscal Arrangements Act (the Act) and relevant regulations.

Total major transfers to Nova Scotia for 2018-19 will round to $3,296 million, an increase of $193.8 million from this year. The first estimates of your province's Canada Health Transfer and Canada Social Transfer payments for 2018-19 are $996.5 million and $365.7 million respectively. In accordance with the legislated formula under the Act and its regulations, your province's Equalization payment for 2018-19 will be $1,933.5 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 2018-19 is $18.1 million, a decrease of $1.9 million compared to 2017-18. 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 2018-19 is a recovery of $113.2 million, and the 2017-18 amount is $16.4 million.

Enclosed for your information is a table presenting the 2018-19 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 10-11, 2017 Finance Ministers Meeting.

Together with our colleagues we've already shown what can be accomplished when we work collaboratively in the interest of the people we serve. I look forward to continuing our work on behalf of all Canadians, and rest assured that I remain committed to our Government's goal of ensuring long-term economic growth that starts with a strong and thriving middle class.

Yours sincerely,

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