Ontario will see a drop in federal equalization payments for the upcoming year, according to updated figures.
The province will get more than $546 million for the 2025-26 fiscal year, down from the $576 million we received 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.
Meanwhile, Ontario is set to see an increase in the Canada Health Transfer ($21.4 billion) and Canada Social Transfer ($6.8 billion) 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 $28.7 billion in federal transfers — up from $27.5 billion — which works out to around $1,728 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.
