Letters to Provinces and Territories: British Columbia 2023

The Honourable Katrine Conroy, M.L.A.
Minister of Finance
Government of British Columbia
P.O. Box 9048
501 Belleville Street
Victoria, BC   V8W 9E2

Dear Minister,

I am pleased to provide you with British Columbia's transfer payment amounts for 2024-25 in accordance with the Federal-Provincial Fiscal Arrangements Act (the Act) and relevant regulations.

Total major transfers to British Columbia for 2024-25 will round to $9.5 billion.

The first estimates of your province's Canada Health Transfer and Canada Social Transfer payments for 2024-25 are $7.2 billion and $2.3 billion respectively. In accordance with the legislated formula under the Act and its regulations, your province does not qualify for an Equalization payment for 2024-25.

In 2024-25, the federal government will provide a total of $52.1 billion to provinces and territories under the Canada Health Transfer—an increase of 5.4% from 2023-24.

As you know, on October 10, 2023, our governments announced a bilateral agreement on health care transfers. This agreement will provide British Columbia with more than $1.2 billion over the next three years, marking a crucial step in a 10-year plan for collaboration. This funding will support initiatives to expand access to services, support health care workers, reduce backlogs, increase mental health and substance use support, improve licensing and credential recognition, and modernize health systems.

Enclosed for your information is a table presenting the 2024-25 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.

I look forward to our continued work together.

Yours sincerely,

The Honourable Chrystia Freeland, P.C., M.P.