Based on the federal decision announced in the 1995 budget of the Minister of Finance, it was initially anticipated that, by the year 2003, federal transfers to the provinces for health, higher education and social assistance would be subject to cumulative cuts totalling $48 billion.
Can we infer the following?
Healthcare funding was amongst one of the areas to be cut in funding 

Available options: (I) Yes. (II) It's impossible to say. (III) No.
The answer is: