Mr. Speaker, we achieved a major victory in equalization this week.
The Prime Minister met with provincial premiers and after that meeting he announced that the federal government would move ahead with a new framework for the equalization program that will see payments to provinces rise by $28 billion over the next 10 years. Over the first five years of this new deal alone, equalization payments to support Canada's eight equalization receiving provinces will grow by 42%.
By providing predictability, stability and increased funding, the new framework will play an essential role in ensuring that all Canadians, no matter where they live, have access to comparable public services.
This increased funding will assist Canada's less prosperous provinces in meeting their commitments over the 10 year plan to strengthen health care, another landmark deal with the provinces reached by this Liberal government, as well as funding other important social and economic developments.