Canadian Transfer Payments
Transfer payments are a collection of fiscal equalization processes used in Canada. Chief among these are the Canada Social Transfer, the Canada Health Transfer and equalization payments. The last of these can be spent however the receiving provinces see fit, while the first two must be spent on social and health services respectively.
The health transfer is the largest of the three, with a combined cash and tax point value of $36.5 billion in the 2008-2009 budget. The social transfer has a cash and tax point value of $19.1 billion while the general equalization payments distributed $13.6 billion to 6 "have-not" provinces. The Territorial Formula Financing program gives $2.3 billion to the three territories in the same year.
While the territories do not participate in the equalization payment program (the Territorial Formula Financing program taking its place), they do participate in the health and social transfers.
Read more about Canadian Transfer Payments: Total Federal Transfers, Canada Health Transfer, Canada Social Transfer, Equalization Payments
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