Canada’s Equalization Payments – a great idea gone perfectly wrong

EDITORIAL

In 1957 Equalization Payments began in Canada as a way in which “have not” provinces can maintain similar public services to those provinces which “have.”

It was a fine idea. Provinces experiencing economic booms sharing with provinces in a down-turn seems like a cooperative, equitable idea.

Unfortunately like most socialist ideals which reward victimhood and penalize hard work and entrepreneurship, Canada’s Equalization Program has been horribly unfair.

Have nots in 1957 remain have nots in 2018.

In some 62 years since its inception, $430 billion has been transferred between provinces. Even with Alberta’s poor present-day economy, we haven’t received a single dollar in Equalization Payments since 1965. In total, Alberta has received $92 million or .02 percent of the total.

Meanwhile, Quebec’s economic black hole has sucked $221 billion through its event horizon, or 51.4 percent of the total payouts. FOR MORE SEE THE DEC 5/18 TOFIELD MERCURY