New Brunswick will see a considerable boost in federal equalization payments for the upcoming year.
The province will get more than $3.1 billion for the 2025-26 fiscal year, up from just under $2.9 billion this year.
Overall, the federal government will hand out more than $26 billion in equalization payments this upcoming year.
More than half of that will go to Quebec, which is set to receive more than $13.5 billion in equalization funding.
Three provinces — Saskatchewan, Alberta and British Columbia — will not get any this year.
Officials say the goal of equalization is to help reduce fiscal disparities among provinces.
New Brunswick is also set to see an increase in the Canada Health Transfer ($1.1 billion) and Canada Social Transfer ($359 million) this year.
They are provided to provinces and territories which support specific policy areas such as health care, post-secondary education, social assistance and social services, early childhood development, and child care.
In total, our province will get $4.6 billion in federal transfers — up from $4.3 billion — which works out to around $5,256 per person.
Across the country, more than $103 billion in federal transfers will be distributed, up from $99.4 billion in the current fiscal year.
