Quote:
Originally Posted by Dan02
I think it's definitely going to be interesting how this retraction in the Alberta economy is going to affect equalization over the next couple years. A giant slice of the equalization pie that was going to the have not provinces is now going to be missing.
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It looks like we're heading towards a nightmare scenario where every province is labeled as a have not province.
I think right now there were only four have provinces in the confederation.
BC, Alberta, Sask and Ontario.
Out of those, Alberta, Sask, and Ontario aren't going to be able to carry the burden anymore. Ontario is basically broke, Alberta is going to see a sharp reduction in revenue as is Sask due to the current economy
Quebec for example and from my undertanding Ontario are budgeting their revenues based on 20% of their dollars coming through equalization and transfers. If that slips its a disaster.