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The Panel carefully considered all the advice and ideas it received on how to improve TFF. And it considered these ideas and options in the context of the opportunities and challenges of the territories, the principles underlying TFF, and the importance of TFF to the capacity of the three territories to respond to their own unique needs.
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| It is designed to provide a solid base for the future, funding bases that the territories can rely on to meet their current and anticipated demands. |
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The following section outlines the Panel’s recommendations for a new approach to TFF. It retains many of the key features of the previous TFF formula, but it simplifies the measurement of revenue capacity and provides the flexibility necessary to accommodate future Aboriginal self-government, Land Claims agreements, and devolution and resource revenue sharing arrangements.
Perhaps most important, it is designed to provide a solid base for the future, funding bases that the territories can rely on to meet their current and anticipated demands. These new bases should allow the territories to address pressing needs, prepare for anticipated developments, move towards self-reliance and self-sufficiency, and achieve better outcomes for all people across Canada’s territories.
A detailed explanation of the Panel’s new approach is provided in Annex 4.
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