First of all if anyone can expand on this please do. I caught part of the conversation on VOCM this afternoon when Sue called in to tell Bill Rowe about how Quebec and Quebec companies work together to take advantage of equalization loopholes. Certain revenues which would normally go to Quebec government coffers gets transplanted to other provincial areas which the province has to pay for. For example, Quebec Hydro might put several $100 million into health care initiatives, or infrastructure, etc. So the idea is that a revenue like hydro does not get counted in the equalization formula, and thus, Quebec will have wisely used a technical loophole to get every cent it can out of equalization. Bill and Sue both asked why can't NL do the same. It sounds like there is much potential for our province to replicate what Quebec is doing to retain more of the equalization monies that we would/will eventually not qualify for.
Updated info: Apparantly Greg Byrne of NL-Outside the Box also phoned in to Bill's show earlier, and mentioned this idea he read about. Just wanted to acknowledge this.