Where’s Nunavut’s new cash coming from?
For the cash-strapped government of Nunavut, it will arrive at an opportune time – an estimated $200 to $300 million in new money from Ottawa over the next five to six years.
Officials caution that their estimates are subject to change.
But based on what they know now, this is what Nunavut expects to get and where it will come from:
Next months’s formula financing deal
* $188 million over six years – through a revamped formula financing agreement. This is the lowest possible estimate, based on the federal government’s first offer, made Sept. 13. The deal, on territorial financing and provincial equalization payments, is to be finalized Oct. 26.
Last week’s health care deal
* $50 million over five years – through a federal commitment to pay half of Nunavut’s medical travel costs. Again this is the lowest possible estimate – it could rise if medical travel in Nunavut gets more expensive.
* $21.7 over five years – through Nunavut’s share of a new territorial health reform fund.
* $17 million over six years – through Nunavut’s estimated share of increases to the Canada Health Transfer, calculated on a per capita basis.
Last week’s aboriginal health fund
* Value to Nunavut unknown – through Nunavut’s share of $700 million in new funding for aboriginal health programs announced by Paul Martin on the morning of Sept. 13. The exact amounts of money flowing to Nunavut will depend on the funding proposals that the GN will make, mostly in co-operation with organizations such as Nunavut Tunngavik Inc.