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Meanwhile, Alberta — Canada’s richest province — will see its total rise to $5.2-billion this year from $4.1-billion in 2013-14, a 26.8% increase mostly due to Ottawa moving to a per capita funding formula under the Canada Health Transfer program.

The only other province that comes close to Alberta’s windfall is Quebec, which will see its total intake from Ottawa rise 9.9% to $19.6- billion.

Speaking in Toronto, Finance Minister Joe Oliver said Canada has a “fair, balanced and generous” equalization system and that changes were needed to cap growth because it was becoming “unaffordable.”

Ontario was in favour of the changes when it was considered a have province prior to 2009, he said.

“The Liberal government was in favour when it was contributing to the payments, now that they are receiving equalization payments they may have a different view.”

An official with his office said total transfer payments to Ontario had risen by more than $8-billion since the Harper Conservatives took office in 2006.

But Ontario Finance Minister Charles Sousa said the PBO report confirms what he has been saying all along: “The current system of federal-provincial fiscal arrangements is working against, not for, the people of Ontario.”

“Each year, the share of federal revenue raised in Ontario is higher than the share of federal spending in Ontario,” he added. “This money could be used in Ontario to fund more hospitals, nurses or public transit.”