Letters to Provinces and Territories: Prince Edward Island 2019
The Honourable Darlene Compton, M.L.A.
Minister of Finance
Government of Prince Edward Island
Shaw Building South, Second Floor
95 Rochford Street
P.O. Box 2000
Charlottetown, PE C1A 7N8
I am pleased to provide you with Prince Edward Island's transfer payment amounts for 2020-21 in accordance with the Federal-Provincial Fiscal Arrangements Act (the Act) and relevant regulations.
Total major transfers to Prince Edward Island for 2020-21 will round to $694 million, an increase of $46 million from 2019-20. The first estimates of your province's Canada Health Transfer and Canada Social Transfer payments for 2020-21 are $176.8 million and $63.4 million respectively. In accordance with the legislated formula under the Act and its regulations, your province's Equalization payment for 2020-21 will be $454.1 million.
Enclosed for your information is a table presenting the 2020-21 major transfer amounts for each province and territory. The table will be provided to your officials and posted on the Department of Finance's website in the context of the December 2019 Finance Ministers' Meeting.
I look forward to working collaboratively with you to advance our shared priorities that matter to Canadians.
The Honourable Bill Morneau, P.C., M.P.
|Jurisdiction||Equalization||Territorial Formula Financing*||Canada Health Transfer||Canada Social Transfer||Total 2020-21|
|1 Totals may not add due to rounding.
* Includes transition payments of $1,270,000 to Yukon and $1,744,000 to the Northwest Territories (Budget 2018).
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