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The Canadian federal government announced in 2023-24, $94.6 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), a $7 billion increase from the previous year, 2022-23. [2]
A mechanism for the Canadian federal government to provide funds through transfer payments to the provinces has existed since Canadian Confederation, and was first enshrined in the Constitution Act, 1867 Section 119 as a mechanism for the new federal government to provide further grants to the province of New Brunswick.
The Canada Health Transfer (CHT) (French: Transfert canadien en matière de santé) is the Canadian government's transfer payment program in support of the health systems of the provinces and territories of Canada. The program was originally combined with the Canada Social Transfer in a program known as the Canada Health and Social Transfer.
Territorial Formula Financing (TFF) is an annual unconditional transfer payment from Canada's federal government to the three territorial governments of Yukon, the Northwest Territories, and Nunavut to support the provision of public services.
The Canada Social Transfer (CST) (French: Transfert canadien en matière de programmes sociaux) is the Canadian government's transfer payment program in support of post-secondary education, social assistance, and social services, including early childhood development and early learning and childcare.
The Canada Health and Social Transfer (CHST) was a system of block transfer payments from the Canadian government to provincial governments to pay for health care, post-secondary education and welfare, in place from the 1996–97 fiscal year until the 2004–05 fiscal year.
Also known as the Loonie, the Canadian dollar traded above the threshold of 1.43 per U.S. dollar, or 0.70 U.S. cents per Canadian dollar, on Tuesday, its weakest intraday level since the start of ...
In 2004, these transfers were split into the Canada Health Transfer (CHT) and the Canada Social Transfer. The federal Department of Finance publishes brief guides to these programs. [23] Nonetheless, many argue that there has been no explicit federal transfer for health care since 1977, since these programs are no longer tied to specific spending.