Mr. Speaker, we are in the last year of a five year period for equalization. The new period begins on April 1. There is legislation before the House at the moment to extend the present arrangement. I am in discussions with provinces and others about the renewal formula.
When the renewal is in place, it will provide over the next five years something in the order of $1.3 billion or more to the receiving provinces, on top of the basic entitlement.