Thank you.
Clause 202 amends the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act to authorize the Minister of Finance to make an additional fiscal equalization offset payment to Nova Scotia of $85.6 million for the 2020-21 fiscal year.
It also extends the minister's authority to make additional fiscal equalization offset payments to the province for fiscal years 2021-22 and 2022-23 if the province receives an equalization payment for those fiscal years. These amendments would ensure that Nova Scotia is not penalized due to the timing of an arbitration settlement payment that it received in 2018.