Interest on the debt in 2019-20 was CDN$12.5 billion, representing 8.0% of Ontario’s revenue and its fourth-largest spending area.
Ontario government debt.
| Fiscal Year | Net Debt (CDN$ billions) | Deficit (-) or Surplus (CDN$ billions) |
|---|---|---|
| 2020-21 | 373.6 | -16.4 |
| 2019-20 | 353.3 | -8.7 |
| 2018-19 | 338.5 | -7.4 |
| 2017-18 | 323.8 | -3.7 |
What is Ontario’s debt to GDP ratio?
Due to the government’s prudent and responsible approach to fiscal planning, the net debt-to- GDP ratio is projected to be 40.7 per cent in 2021–22, 8.1 percentage points lower than the 48.8 per cent forecast presented in the 2021 Budget.
How much is Ontario’s debt?
Publicly-held Debt
| • $348.9 billion Canadian dollars | • $4.7 billion Pound Sterling |
|---|---|
| • $44.9 billion U.S. dollars | • $1.5 billion Australian dollars |
| • $16.8 billion Euros | • $0.9 billion Swiss francs |
What does Ontario spend most of its money on?
Ontario’s top expenses
- Health sector. $63.5 billion.
- Education sector. $41.2 billion.
- Children and social services sector. $16.7 billion.
- Interest on debt. $13.3 billion.
What is Ontario’s debt 2022?
Ontario’s government debt actually increased last year by $6.8 billion. Ontario’s net debt increased from $373.6 billion in 2020/21 to $380.4 billion in 2021/22.
Does Ontario have the highest debt?
Interest on the debt in 2019-20 was CDN$12.5 billion, representing 8.0% of Ontario’s revenue and its fourth-largest spending area.
Ontario government debt.
| Fiscal Year | Net Debt (CDN$ billions) | Deficit (-) or Surplus (CDN$ billions) |
|---|---|---|
| 2020-21 | 373.6 | -16.4 |
| 2019-20 | 353.3 | -8.7 |
| 2018-19 | 338.5 | -7.4 |
| 2017-18 | 323.8 | -3.7 |
What is Ontario’s main source of income?
In 2021, roughly 45 billion Canadian dollars in revenue was collected by the Ontario government through taxes on goods and services. A further 3.16 billion Canadian dollars in revenue was collected through the sales of goods and services in that year.
Has Ontario ever had a balanced budget?
Ontario posted its first budget surplus in 14 years as inflation and resilience in the economy bolstered revenue above projections in fiscal 2021-2022. The world’s largest sub-sovereign debt issuer reached a C$2.1 billion ($1.6 billion) surplus in the year ended March 31, 2022.
How big is Ontario’s budget?
Government of Ontario Fiscal Plan
| Fiscal Year | 2022 Budget Plan | |
|---|---|---|
| Revenues | 164.9 | 188.2 |
| % change | 5.6 | 4.7 |
| Expenditures | 181.3 | 199.1 |
| % change | 10.0 | 0.3 |
Is Canada more in debt than the US?
Debt-to-GDP ratio
| Country | Gross public debt as % of GDP (CIA) | Total (gross) government debt as % of GDP (IMF) |
|---|---|---|
| Canada | 98.2 | 89.688 |
| United States | 103.8 | 107.785 |
What is Canada’s biggest expense?
Social protection remained the largest expense of the Canadian general government, at almost one-third (30.4%) of total spending. Of the $267.4 billion increase in total spending, social protection accounted for half (50.1%).
How big is Canada’s debt?
General government net debt, or gross debt minus financial assets, reached $1,453 billion or 57.9% as a share of GDP in the fiscal year ending 31 March 2022.
Alternative measures of government debt.
| Government debt for fiscal year 2021. | Amount ($billions) | Percent of GDP |
|---|---|---|
| Gross debt | $2,942 | 117.2% |
| Net debt | $1,453 | 57.9% |
How much debt does the city of Toronto have?
| City of Toronto Long-Term Debt ($000s) | ||
|---|---|---|
| Toronto Atmospheric Fund | 594 | 2,881 |
| Sinking Fund Deposits – City | (1,604,962) | (1,680,843) |
| Sinking Fund Deposits – TDSB | ||
| Total Net Long Term Debt | 7,104,455 | 5,949,930 |
Who owns Canada’s national debt?
Overall, about 76 per cent of Government of Canada market debt was held by Canadian investors, such as insurance companies and pension funds, and financial institutions and governments.
Is Ontario in deficit?
Ontario is projecting a $12.9 billion deficit for 2022-23, according to the fall economic statement released Monday. This shortfall is about $7 billion less than what was projected in the 2022 budget and includes a number of affordability pledges meant to save drivers, small business owners, and seniors money.
What is the average debt per person in Ontario?
How much debt does the average Canadian carry? The average credit card debt Canadians had in September 2022 was $2,121, according to Equifax. And another report the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,000—excluding mortgages.
What percentage of Canada is debt free?
30.2%
About two-thirds of Canadian families are in debt. Only 30.2% of Canadian families are debt-free. According to Canadian household debt statistics, 34% of homeowners have mortgage-free properties.
Is Ontario a wealthy province?
While Canada’s 10 provinces and 3 territories exhibit high per capita values, there’s wide variation among them. Ontario, the country’s most densely populated province (the richest province in Canada by GDP), maybe a major production and trade hub with in-depth linkages to the northeastern and western United States.
What city is in the most debt?
Seattle
- Denver. With an average debt per person of $26,636, Denver ranks as the most indebted city in America, according to data collected by Experian.
- Seattle. In the Emerald City, the average debt per person is $26,351.
- Dallas.
- Phoenix.
- Atlanta.
- Portland, Ore.
- Baltimore.
- Washington, D.C.
How rich is Ontario Canada?
Net worth by province
| Province | Median Net Worth |
|---|---|
| Alberta | $317,000 |
| Saskatchewan | $330,500 |
| Manitoba | $295,700 |
| Ontario | $434,500 |
How much money does Ontario make from taxes?
In 2021-22, total revenue in Ontario was $185.1 billion — 20.2 per cent, or $31.1 billion higher than the 2021 Budget forecast.