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Equalization: The lost $150 million?

November 28th, 2011

I stumble across this issue yesterday.  The Department of Finance Canada tells us New Brunswick got $1.483 billion in Equalization this year while the NB government had budgeted for $1.632 billion.  I suspect there is a reason for this discrepancy.  It was probably covered in the media and I just missed but it is a whopper of a difference - roughly $150 million.   As the government goes about looking to chop a million here and a million there – $150 million looms large.  The last time the NB government received this amount of equalization was back in 2007-2008 (see page 220 of the 2007-2008 main estimates document).

In fact,a  quick scan of the last eight budget shows very little discrepancy between budgeted and actual equalization.  Then this year – $150 million.  Curious.

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