Canada: Do you want goverment's money? Move to Nunavut!

By Phil Froats / Canadian Business If you want the federal government to give you over $37,000 per year, move to Nunavut. That’s the per capita figure for the $1.1 billion in territorial formula financing (equalization payments) given to Nunavut in the 2011-2012 fiscal year. Since fiscal 2005-2006, Nunavut residents have received approximately $6.8 billion or $215,000 per person in territorial formula financing payments. The Yukon and Northwest Territories each got more than $20,000 per person. The province with the highest per capita equalization payment in 2011-12 was PEI with $2,350, followed closely by New Brunswick with $2,185. Alberta, B.C. and Saskatchewan received no equalization payments and Ontario became a recipient province getting about $171 per person.

Since fiscal 2005-06, almost $114 billion has been handed out in equalization, territorial formula financing and offshore accords. About 44% of that went to Quebec and almost 15% or $16.8 billion went to the three territories which combined have a population of about 111,000, about 23% less than the number of people in Prince Edward Island, which received $2.2 billion over the same time period.