What is the current deficit for Ontario?
The Fall Economic Statement tabled on Wednesday includes a 2021-2022 deficit of $21.5 billion, up $5.1 billion from the end of the 2020-2021 fiscal year. The 2021-22 deficit figure is more than $11 billion below what was projected in the 2021 budget.
How much is Ontario in debt?
The Ontario Financing Authority, which manages the provinces’ debt, says that as of March 31, 2020 (for the 2019-20 fiscal year), the Ontario government’s net debt is CDN $353.3 billion. Net debt is projected to rise to $398 billion in 2020-21.
What is Ontario’s debt 2021?
Ontario’s non-public debt interim as of March 31, 2021 is $9.3 billion, or 2 per cent of total debt. Non-public debt consists of debt instruments issued mainly to Canada Pension Plan Investment Board (CPPIB).
Has the 2021 Ontario budget been passed?
TORONTO — As provinces across the country continue to battle the third wave of the COVID-19 pandemic caused by the introduction of more contagious variants of concern, the Ontario legislature has passed Bill 269, Protecting the People of Ontario Act (Budget Measures), 2021 and enacted into law the next phase of the …
Is Ontario’s budget balanced?
Ontario unlikely to balance budget by 2030 despite post-COVID pandemic growth: report. TORONTO — Ontario’s fiscal watchdog says the province’s economy will rebound over the next two years but the government is unlikely to reach its goal of a balanced budget by the start of the next decade.
What is Canada’s national debt?
For 2019 (the fiscal year ending 31 March 2020), total financial liabilities or gross debt was $2.434 trillion ($64,087 per capita) for the consolidated Canadian general government (federal, provincial, territorial, and local governments combined).
Why is Ontario’s debt so high?
When the government spends more than it takes in, it results in a deficit, which increases the debt. Over the last decade alone, Ontario’s net debt has more than doubled — growing from about $160 billion to more than $343 billion. If the government is in deficit, each new program or tax cut can add to the debt.
Does Ontario have the largest debt?
Record Debt Ontario, the world’s largest sub-sovereign bond issuer, is projecting its net debt-to-GDP to reach 50.2% by fiscal 2023-2024, up from 47.1% at the end of the last fiscal year, according to the budget documents released in late March.
Has budget 2021 been approved?
The first implementation bill of the 2021 budget was definitely adopted on 23 June 2021 with support from the Liberals, New Democrats (except Scott Duvall, MP for Hamilton Mountain who voted against), Bloc québécois and Green MPs. All Conservatives MPs present in the House voted against the bill.
What is Canada’s deficit 2021?
2021 Canadian federal budget
| Presented | 19 April 2021 |
|---|---|
| Total expenditures | $650.3 billion (projected for 2020, including net actuarial losses), $509.8 billion (projected for 2021, including net actuarial losses) |
| Deficit | $354.2 billion (projected for 2020), $154.7 billion (projected for 2021) |