Contents
Preface
Foreword
Chapter 1: Economic Update
- Introduction
- Recent Economic Performance
- Economic Planning Assumptions
- Risks
- Summary of Key Economic Indicators
- Regular Reporting on the Economy
Chapter 2: Fiscal Update
- Introduction
- Ontario’s Fiscal Plan
- Details of Revenue
- Details of Expense
- Improved Transparency in Financial Reporting
- Details on Ontario’s Finances
Chapter 3: Borrowing and Debt Management
- Introduction
- Long-Term Public Borrowing
- Cost of Debt
- Ensuring Adequate Liquidity Levels
- Consolidated Financial Tables
Annex: Details of Tax Measures
- Overview
- Temporary Doubling of the Employer Health Tax Exemption
- Providing Interest and Penalty Relief for Ontario Businesses when They Need It Most
- Introducing the Regional Opportunities Investment Tax Credit
- Postponing Planned Property Tax Reassessment
- Summary of Measures
List of Tables
Foreword
Chapter 1: Economic Update
- Table 1.1: Announced or Implemented Stimulus Measures
- Table 1.2: The Ontario Economy, 2018 to 2021
- Table 1.3: Ontario Economic Accounts Release Dates
Chapter 2: Fiscal Update
- Table 2.1: Ontario’s Fiscal Plan
- Table 2.2: Summary of 2019–20 Revenue Changes since the 2019 Budget
- Table 2.3: Summary of the Revenue Outlook
- Table 2.4: Selected Economic and Revenue Risks and Sensitivities
- Table 2.5: Summary of Changes to the Expense Outlook since the 2019 Budget
- Table 2.6: Impact of Changes in Provincial Reporting
- Table 2.7: Revenue
- Table 2.8: Total Expense
- Table 2.9: Infrastructure Expenditures
- Table 2.10: Ten-Year Review of Selected Financial and Economic Statistics
Chapter 3: Borrowing and Debt Management
Annex: Details of Tax Measures
List of Charts
Chapter 1: Economic Update
- Chart 1.1: Ontario’s Employment Growth
- Chart 1.2: Global Growth Slowed Broadly in 2019
- Chart 1.3: Slowing Manufacturing Activity
- Chart 1.4: Oil Prices Decline
- Chart 1.5: Stock Market Declines
- Chart 1.6: Government Bond Rates Lower
- Chart 1.7: Canadian Dollar Declines
Chapter 2: Fiscal Update
Chapter 3: Borrowing and Debt Management
- Chart 3.1: 2019–20 Borrowing
- Chart 3.2: Domestic and International Borrowing
- Chart 3.3: Effective Interest Rate (Weighted Average) on Total Debt
- Chart 3.4: Average Annual Ontario Borrowing Rates
- Chart 3.5: Weighted-Average Term of Borrowings
- Chart 3.6: Average Unrestricted Liquid Reserve Levels
Annex: Details of Tax Measures
- Chart A.1: Illustrative Examples of Tax Relief Provided by an Increase to the Employer Health Tax Exemption
- Chart A.2: Northern Ontario: Regions Eligible for the Regional Opportunities Investment Tax Credit
- Chart A.3: Southern Ontario: Regions Eligible for the Regional Opportunities Investment Tax Credit
Updated: March 25, 2020
Published: March 25, 2020