Provincial-Territorial Meeting of Ministers of Finance

TORONTO (Nov. 3, 1997) --  Provincial and territorial finance ministers have agreed to identify options to  improve existing financial arrangements.

The ministers met in Toronto  today to follow up on priorities raised by premiers at their annual conference  in August at St. Andrews, NB. The premiers asked the finance ministers to review  and report on several issues, including the Equalization program, taxation  policies, financing arrangements for social programs, reduction of employment  insurance premiums, and infrastructure.

"The purpose of our meeting was  to discuss areas of common concern on these important issues," said New  Brunswick Finance Minister Edmond Blanchard who chaired the one-day working  meeting. "We had a good discussion. We look forward to further talks that will  lead to recommendations to the Premiers."

Quebec has expressed serious  reservations about several subjects, especially the financial arrangements for  social programs. Quebec has chosen to issue its own press release.

Mr. Blanchard said dialogue  between the provinces and territories will be continuing in the months ahead.  Ministers expect to consider information and options in time to report and make  recommendations to the 1998 annual premiers’ conference.

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For more information,  please contact:

Stephen  Heckbert
Communications Officer
New Brunswick Department of  Finance
(506) 453-4138