Major federal transfers to provinces and territories will reach $108.4 billion in 2026-27.
The amount represents a $4.6 billion increase from 2025-26 and the largest major transfer total recorded by Finance Canada.
The Canada Health Transfer will rise by 5 per cent to $57.4 billion.
That amount includes a $1.4 billion top-up tied to the 5 per cent minimum annual growth-rate guarantee legislated in 2023 for a five-year period.
Major transfers also include the Canada Social Transfer, Equalization, and Territorial Formula Financing.
The announcement came alongside a meeting with provincial and territorial finance ministers. The discussion included productivity, tariffs, housing, infrastructure, defence, competitiveness, interprovincial trade barriers, and the Major Projects Office.
Finance Canada pointed to standardized building codes as one possible area where coordination could make housing construction easier.
The transfer amounts matter because they shape provincial and territorial fiscal capacity. Health, social, equalization, and territorial transfers affect the public services that provinces fund and the fiscal pressure they face when setting their own tax and spending choices.