Newmarket-Aurora MP Lois Brown applauds a major new investment in health care announced by Finance Minister Jim Flaherty that will see funding for health care continue to increase to record levels. The new investment in health care will see funding grow to record levels from $30 billion per year in 2013-14 to $38 billion per year in 2018-19.
“Our Government is committed to a publicly funded, universally accessible health care system that is there when you need it,” said MP Lois Brown.
Under the new investment, the Government will invest $178 billion in health care over five years.
The Government also recognizes the importance major transfers play within the federation, and is committed to growing these transfers on a balanced and sustainable path going forward.
“Our government is committed to protecting transfer growth in 2014-15 and beyond while being fiscally responsible,” said MP Brown.
In 2012-13, Ontario will receive record high support through major federal transfers totalling $19.2 billion – an increase of nearly $8.4 billion (or 77%) from under the former Liberal government, including:
- over $3.2 billion through Equalization
- nearly $11.4 billion through the Canada Health Transfer, an increase of over $3.6 billion (or 48%) from under the former liberal government
- $4.6 billion through the Canada Social Transfer, an increase of over $1.4 billion (or 45%) from under the former liberal government.
The Canadian Health Transfer will continue to grow at six per cent for an additional three years beyond 2013-14 (i.e., 2014-15, 2015-16 and 2016-17).
Starting in 2017-18, the CHT will grow in line with a three-year moving average of nominal gross domestic product (GDP) growth, with funding guaranteed to increase by at least three per cent per year. Based on long-term trends, it would be expected to grow in the range of four per cent annually.
“These measures will ensure that the integrity of the transfer system is maintained, by ensuring that it remains sustainable for all governments,” said MP Brown.
