In July, APEC hosted an Atlantic roundtable on behalf of an expert panel on Equalization and Territorial Formula Financing. The review could have significant implications for the Atlantic region. The four Atlantic provinces rely on equalization to provide between 20% and 26% of total provincial revenues and are more dependent on equalization to support provincial spending than any other part of Canada. Delegates recognized the essential role of equalization in strengthening the Canadian federation and supporting service provision in “have-not” provinces. There was strong support for a formula-driven program. There was also general agreement that resource revenues from all sources, including oil and gas, should be fully included to the extent that they are used to provide services, lower taxes or reduce debt service costs.