Federal finance minister Bill Morneau told his provincial colleagues Tuesday he will have news for them on any changes to the fiscal stabilization program in January..Alberta has been clamouring for changes to the program and are arguing it is owed $2.4 billion from the fund. The last payment to Alberta was capped at $250 million..“We have presented the federal government with recommendations unanimously supported by every province in the country. Specifically, we are asking for changes to the Fiscal Stabilization Program that would include the removal of the per capita cap, lowering the qualifying threshold for resource and non-resource revenues and retroactive payments over the last five years,” said Alberta finance minister Travis Toews after the meeting..“Federal Finance Minister Bill Morneau committed to returning to the provinces and territories in January with an initial response on the Fiscal Stabilization Program. We are hopeful this will result in an expedited resolution.”.At a premier’s conference earlier this month in Toronto, every provincial leader joined Alberta’s Jason Kenney in demanding changes to the program..“We’ve heard that a united Canada is important to the federal government. But it will take actions, not just words, for Albertans to feel they are being heard and represented in Ottawa. We will need to see timely and concrete action on issues that our government has brought forward,” Toews said..“We are seeking $2.4 billion in retroactive payments for what Alberta would have received without the cap in place. The amount Alberta received represents only 3.6 per cent of the total decline in Alberta’s revenues. Our request is a very small ask, considering the province’s outsized contribution to the Confederation.”.Provinces also called for the feds to increase health funding with an annual escalator of 5.2 per cent..dnaylor@westernstandardonline.com.Twitter: Nobby78694
Federal finance minister Bill Morneau told his provincial colleagues Tuesday he will have news for them on any changes to the fiscal stabilization program in January..Alberta has been clamouring for changes to the program and are arguing it is owed $2.4 billion from the fund. The last payment to Alberta was capped at $250 million..“We have presented the federal government with recommendations unanimously supported by every province in the country. Specifically, we are asking for changes to the Fiscal Stabilization Program that would include the removal of the per capita cap, lowering the qualifying threshold for resource and non-resource revenues and retroactive payments over the last five years,” said Alberta finance minister Travis Toews after the meeting..“Federal Finance Minister Bill Morneau committed to returning to the provinces and territories in January with an initial response on the Fiscal Stabilization Program. We are hopeful this will result in an expedited resolution.”.At a premier’s conference earlier this month in Toronto, every provincial leader joined Alberta’s Jason Kenney in demanding changes to the program..“We’ve heard that a united Canada is important to the federal government. But it will take actions, not just words, for Albertans to feel they are being heard and represented in Ottawa. We will need to see timely and concrete action on issues that our government has brought forward,” Toews said..“We are seeking $2.4 billion in retroactive payments for what Alberta would have received without the cap in place. The amount Alberta received represents only 3.6 per cent of the total decline in Alberta’s revenues. Our request is a very small ask, considering the province’s outsized contribution to the Confederation.”.Provinces also called for the feds to increase health funding with an annual escalator of 5.2 per cent..dnaylor@westernstandardonline.com.Twitter: Nobby78694
