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Post by NewsHound on Jun 1, 2004 9:58:23 GMT -4
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Post by IAMCAPER on Jun 1, 2004 10:33:03 GMT -4
Very interesting, although I haven't read it all yet, here are some key points I've seen thus far:
1 - The Federal Government provides equalization payments to all provinces with the exception of Ontario and Alberta because they're average household income is above the national average of $58,000. In comparison, the average household income in the CBRM is $39,000
2 - On a provincial level, while there are numerous regions, on the mainland, which are above the provincial average for what they spend per household, some as much as $1000 more per household than the CBRM, they still receive grants from the provincial government. In other words, the CBRM requires an addition $20 million in equalization in order to be brought up to the levels of other regions in the province, that's roughly 20% of it's current budget!
3 - Nova Scotia Power currently pays $31.5 million in property taxes of which $1.9 million goes to the CBRM. This works out to roughly 6% of total taxes. However, the CBRM houses approximately 28% of Nova Scotia Power's property. If you do the math, the CBRM should receive $9 million out of the total property taxes paid by NSP
4 - Estimates indicate that the Province of Nova Scotia receives roughly $315 million annually in equalization payments from the Federal Government. Based on the percentage of service responsibilities, Cape Breton should receive approximately $38 million annually. The total amount received by the municipal units in Cape Breton, $17 million. Where is the other $21 million?!
5 - Comparing PEI to Cape Breton, with similar population, PEI spends $62 million annually on development and tourism. In Cape Breton, there is not one full-time employee in the Tourism Department and expenditures are nowhere near the level of PEI.
6 - UPEI receives $20 million more from it's Provincial Government than UCCB does from it's own. The University of Moncton is twice as large as UCCB but receives 5 times as much Provincial and Federal funding.
7 - Innovation funding to Cape Breton is $11 million compared to $43 million in PEI, again with similar populations.
There's so much, you really should read this article!
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