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Canada's First Ministers agree to a new health plan to improve access to quality care for all Canadians. A 10-year plan to strengthen health care (2004) The Health Care Renewal Accord 2003
A significant amount of its own funding is transferred by the federal government to the provinces and territories to support important social investments, such as health care and education. These are called transfers. Finance Canada administers these transfers. The key transfer programs are:
- Equalization, which ensures that less prosperous provinces can
provide reasonably comparable public services without their taxes
being out of line with those of more affluent provinces; and
- Territorial
Formula Financing (TFF) which provides territorial
governments with funding to support public services, in recognition of
the higher cost of living in the north.
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