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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.
The Great Recession of 2008 had a considerable impact on Ontario, particularly its manufacturing sector [citation needed]. Ontario's budget surplus in 2007-2008 had by 2009-2010 given way to a $19 billion deficit. [30] Ontario government's direct subsidies to corporations average $2.7 billion per year over the five years to 2011. [31]
The equalization formula is "based on a three-year average of economic growth". Since the 2008 recession, the Ontario economy got stronger which resulted in lower equalization payments. [16] In 2012–2013 Ontario's equalization payments increased to a peak of $3.3-billion. It was projected to be $2-billion in 2014–2015.
The 2009 initial funding, the 2010 initiation, the 2016 implementation, and ongoing operation of what would become the Phoenix pay system, was overseen by a series of the Department of Public Services and Procurement Canada Ministers, spanning the tenure of former-Prime Minister Harper (February 6, 2006 – November 4, 2015) and Prime Minister Justin Trudeau (2015–).
The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. [3] The inverse of demurrage is despatch. If the charterer requires the use of the vessel for less time than the laytime allowed, the charterparty may require the shipowner to pay despatch for the time saved. [citation needed]
The Treasury Board was originally established in 1886 as a committee of the Cabinet of Ontario.Prior to 1950, the board met infrequently and had no permanent staff. Its primary role during this period was to review and approve Special Warrants and Treasury Board Orders to meet shortfalls in departmental estimates.
The Government of Ontario (French: Gouvernement de l'Ontario) is the body responsible for the administration of the Canadian province of Ontario.The term Government of Ontario refers specifically to the executive—political ministers of the Crown (the Cabinet/Executive Council), appointed on the advice of the premier, and the non-partisan Ontario Public Service (whom the Executive Council ...
The activities of the Government of Ontario are directed by the Executive Council. The Executive Council is almost always made up of members of the Legislative Assembly of Ontario . Though the lieutenant governor does not generally attend Cabinet meetings, directives issued by the Crown on the advice of the ministers are said to be ordered by ...