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Ontario's Fiscal Management

Budget of the Ontario Government - Fiscal Year 2007


The government's sound leadership and prudent fiscal management have resulted in a steady improvement from the inherited US$5.2 billion deficit in 2003–04 to the US$2.2 billion surplus recorded in 2006–07. Total revenue in 2007-08 is currently projected at US$88.3 billion and the total expense outlook at US$87.64 billion.

Measures announced in the 2007 Ontario Economic Outlook and Fiscal Review will boost Ontario’s ability to compete in the global economy by enhancing competitiveness through immediate tax reductions; investing in people and communities and investing in infrastructure

Composition of Revenue

Source: Ontario Ministry of Finance, 2007 Ontario Economic Outlook and Fiscal Review (12/2007)

Composition of Current Revenue Outlook, 2007-08
Total: US$88.3 Billion
Composition Percentage (%)     $US Billions    
Federal Payments  18     15.7    
Personal Income Tax  26     22.8    
Retail Sales Tax  18     15.7    
Corporation Tax  12     10.7    
Employer Health Tax  5     4.3    
Gasoline and Fuel Taxes  3     2.9    
Ontario Health Premium  3     2.5    
Other Taxes  4     3.4    
Other Non-Tax Revenue  8     6.7    
Income from Government Enterprises  4     3.7    
Total  100     88.3    


NOTES:
Figures may not add to totals due to rounding.

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Composition of Total Expense

Source: Ontario Ministry of Finance, 2007 Ontario Economic Outlook and Fiscal Review (12/2007)

Composition of Current Total Expense Outlook, 2007-08
Total: US$87.7 Billion
Composition Percentage (%)     $US Billions    
Health Sector  41     35.7    
Education*  13     11.8    
Training, Colleges and Universities  6     5.5    
Children's and Social Services Sector  12     10.3    
Justice Sector  4     3.1    
Resources, General government and others  14     12.7    
Interest on Debt  10     8.5    
Total  100     87.7    


NOTES:
Figures may not add to totals due to rounding.
* Excludes Teachers' Pension Plan

HELPFUL TIPS
bullet What's so special about this section?
bullet How is the information arranged?
bullet Navigation
bullet Getting at the data
bullet Making effective presentations
bullet Missing or inaccurate data
bullet How to verify that the charting module has been installed on your computer
bullet Help Video
bullet Exchange Rates

Top of the page

1 $Cdn = 0.9388 $US (rate as at 2007)
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