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stabilization payment
DCHP-2 (Oct 2016)
n. — Politics, Finance
a payment made by the Canadian government to a province or to a group of producers in order to stabilize a sector of the economy.
Type: 5. Frequency — The term has a North American dimension (see Chart 1), though the frequency is somewhat higher in Canada than in the US.
See also COD-2, s.v. "stabilization payment", which is marked "Cdn".
See also COD-2, s.v. "stabilization payment", which is marked "Cdn".
Quotations
1958
New farm price stabilization payments covering sugar beets and Ontario soya beans were announced Tuesday by the federal government. They brought to 10 the number of agricultural products now covered by federal farm price stabilization measures and appeared to indicate a government policy favoring deficiency payments for perishable items and price supports for storable goods.
1962
Further details in amplification of the government's dariy [sic] support program for the dairy year beginning May 1 have been released by Agriculture Minister Alvin Hamilton. [...] The board will also continue the stabilization payment of 25 cents per hundredweight for milk delivered by producers for manufacturing purposes.
1979
The cost of carrying the national debt next year is estimated at $8.3-billion. The Government is also seeking another $46-million for the Agriculture Department - bringing total department spending to $778-million - mostly for agriculture stabilization payments.
1982
Under the sheep program announced yesterday, the federal Government is offering Canada's 12,000 lamb producers $5.14 for every animal they sold in 1981 - a total stabilization payment of about $1-million.
1992
Under the terms of the Fiscal Arrangements Act, the federal government provides stabilization payments to any provincial government faced with a year-over-year decline in its revenues caused by a sudden downturn in its economy.
2003
The stabilization payment system for poorer provinces was changed to ensure Ottawa won't have to make the same huge payouts as in the recession of the early 1990s.
2011
The Bloc is also seeking to settle two long-standing bills that have been gathering dust in Ottawa: $421 million for the costs of the 1998 ice storm and $137 million for an outstanding stabilization payment for the year 1991-92.
2016
Further layoffs are a concern and families are feeling the pinch as they watch food prices rise.
The situation is bleak enough that Alberta applied for a fiscal stabilization payment and qualified for the maximum amount of $60 per person. Federal Finance Minister Bill Morneau explained that was justified to help address the challenges of middle-class families and others struggling with Alberta's economic dive.
References
- COD-2
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