This, the first report in AIMS Equalization series, finds that after 44 years and $180 billion [without adjusting for inflation] the Atlantic Provinces are not significantly ahead in their ability to be self-sufficient. Looking at equalization since its inception in 1957 you find that the four Atlantic provinces have barely improved their ability to cover their own spending needs from their own revenue sources compared to when the program was introduced. Author Roland T. Martin, a former Deputy Minister of Finance for Newfoundland, suggests several possible equalization reforms which, either individually or in combination, would significantly improve the current system.

Read the full paper.