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Supplementary information on the costing of indexing the maximum per capita payment under the Fiscal Stabilization Program

Published on January 21, 2021

This blog post provides supplementary information on the qualifying provinces and their respective payments underlying PBO’s 20 January 2021 costing of the Fiscal Stabilization Program (FSP).

Tables 1 and 2 below present the cost of the FSP program before and after indexing the maximum per capita payment by each qualifying province. Note that the most recent provincial budgetary documents used to calculate FSP payments and loans were current as of December 2020. Subsequent COVID-19 measures and economic developments and their impact on provincial revenues are not taken into account.

Cost of FSP program before indexing the maximum per capita payment
Table 1

$ millions

Description

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

Nova Scotia

FSP payment

-

59

-

-

-

-

 

Cost of interest free loan (loan amount = $564M)

-

4

4

5

7

11

Ontario

FSP payment

-

884

-

-

-

-

 

Cost of interest free loan (loan amount = $2,842M)

-

18

22

25

38

53

Manitoba

FSP payment

-

83

-

-

-

-

 

Cost of interest free loan (loan amount = $193M)

-

1

2

2

3

4

Alberta

FSP payment

-

265

-

-

-

-

 

Cost of interest free loan (loan amount = $1,565M)

-

10

12

14

21

29

British Columbia

FSP payment

-

309

-

-

-

-

 

Cost of interest free loan (loan amount = $1,230M)

-

8

10

11

16

23

Total cost

 

-

1,640

51

57

85

119
Source: Parliamentary Budget Officer.
Cost of FSP program after indexing the maximum per capita payment
Table 2

$ millions

Description

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

Nova Scotia

FSP payment

-

166

-

-

-

-

 

Cost of interest free loan (loan amount = $457M)

-

3

4

4

6

9

Ontario

FSP payment

-

2,502

-

-

-

-

 

Cost of interest free loan (loan amount = $1,224M)

-

8

10

11

16

23

Manitoba

FSP payment

-

234

-

-

-

-

 

Cost of interest free loan (loan amount = $41M)

-

0.3

0.3

0.4

1

1

Alberta

FSP payment

-

751

-

-

-

-

 

Cost of interest free loan (loan amount = $1,079M)

-

7

9

10

14

20

British Columbia

FSP payment

-

874

-

-

-

-

 

Cost of interest free loan (loan amount = $664M)

-

4

5

6

9

12

Total cost

 

-

4,550

27

31

46

65
Source: Parliamentary Budget Officer.
Demographic indicators Fiscal Sustainability