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A significant amount of its own funding is transferred by the federal government to the provinces and territories to support important social investments, such as health care and education. These are called transfers. Finance Canada administers these transfers. The key transfer programs are:
- the Canada Health and Social Transfer (CHST), which goes to all provinces and territories and is used to
fund health care, post-secondary education and social assistance and
social services;
- Equalization, which
ensures that less prosperous provinces can provide reasonably
comparable public services without their taxes being out of line with
those of more affluent provinces; and
- Territorial Formula Financing (TFF) which provides territorial governments with funding to support
public services, in recognition of the higher cost of living in the
north.
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