Bill Morneau prepared to talk to provincial finance ministers about 'equalization rebate'

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Morneau told reporters he is happy to have a conversation on the Fiscal Stabilization Program, but would not commit to a change

Finance Minister Bill Morneau will have an open ear to provinces looking for more money to deal with bad economic times, but it is unclear if he will open the federal government’s wallet.

“Next week is a really important first step. We’re looking forward to getting together with the finance ministers. The idea is we’re going to listen, work together, try and understand their position. That’s the important start in the discussion,” he said. That cap meant Ottawa sent Alberta just over $250 million in 2016 the maximum amount allowed. Without the cap, the province would have received more and Alberta Premier Jason Kenney wants it lifted retroactively, going back to 2014 when a collapse in oil prices begin to hit the province.

 

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