Download or read book Achieving a National Purpose written by Canada. Expert Panel on Equalization and Territorial Formula Financing and published by Expert Panel. This book was released on 2006 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the importance of resources to the economies of some provinces and the impact of high prices for oil and gas in particular, this issue has direct bearing not only on the Equalization pro- gram but on the potential for resource revenues to increase disparities among provinces. [...] Specifically, the Expert Panel was asked to provide advice to the Government of Canada on:1 • The allocation among the provinces of the annual Equalization allotment set in legislation is to be evidence-based and derived from a formula, including consideration of: • The current Representative Tax System (RTS) approach • The treatment of various provincial and local revenue sources, such The Panel' [...] A list of those who participated in the consultation process is includ- ed in Annex 1. The result is a thorough and comprehensive review of Canada's Equalization program, a sound analysis of the implications of different options and ideas, and a clear understanding of the various positions and ideas put forward by the federal government, provincial governments, and interested individuals. [...] For the purposes of this report, we'll only highlight the origins of the program and some of the major changes that have taken place leading up to the present day. [...] With a 10-province standard in place, the impact on Equalization was to drive up the national average and the costs to the federal government of providing Equalization grants to receiving provinces.