Total Federal Transfers
The Canadian federal government budgeted in 2009-10 nearly $60 billion to transfer to the provinces and territories through major transfers (Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing), direct targeted support and trust funds – an increase of $6.7 billion from the previous year.
In 2009-10, the Canada Health Transfer (CHT), at $22.6 billion in 2008–09, will continue to grow by 6-per-cent a year, providing an increase of $1.4 billion for a total of $24 billion in 2009–10. The Canada Social Transfer (CST), at $10.6 billion in 2008–09, will grow by 3-per-cent a year for a total of $10.9 billion in 2009–10. Equalization will be $14.2 billion in 2009–10. Territorial Formula Financing (TFF) will be $2.5 billion in 2009–10, an increase of $185 million over 2008–09.
In 2008-09, provinces and territories received about $49.1 billion in major transfers – an increase of $7.7 billion since 2005-06. These transfers were estimated to account for about 17% of provincial and territorial revenues in 2008-09.
Read more about this topic: Canadian Transfer Payments
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