cover image: Fiscal Federalism and the Dependency of Atlantic Canada

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Fiscal Federalism and the Dependency of Atlantic Canada

19 Jan 2021

In Alberta, federal spending equalled 7.7% of the provincial GDP while federal revenues from the province equalled 14.1% of its economy, for a net outflow equivalent to 6.4% of the Alberta economy In the last financial crisis and recovery (2007/08), Alberta taxpayers carried most of the weight of fiscal federal- ism, with a federal surplus of $52.9 over the two years compared to $32.3 billion from [...] This publication examines federal fiscal flows and the net transfers made by the federal government, in other words, the difference between federal revenues and expenditures in each of the provinces and territories. [...] While this study aims to examine the overall impact of fiscal federalism and the flow of funds, the appendix and several of the tables enable readers to understand the structure at a close level. [...] The story in pictures Before delving into the numbers, the best way to grasp the scale of fiscal federalism is through some pictures.3 As noted earlier, the focus in the text will be on Atlantic Canada and Alberta, rather than repeating all information the reader will see in the figures. [...] It is import- ant to stress that the projections by Fuss and Palacios were made prior to the COVID-19 crisis and to recall that the estimates of the federal deficit made after the COVID-19 crisis struck are 13 times the deficit of 2019, so these numbers are likely to get much worse on the provincial level.
ISBN
9780889756311
Pages
50
Published in
Vancouver, BC, CA