Fiscal Reference Tables

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Fiscal Reference Tables : 9
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Table 53
Total government liabilities and assets
National Accounts Basis

	1996	1997	1998	1999	2000	2001	2002	2003


	(millions of dollars)
Liabilities
Currency and bank deposits	3,237	3,342	3,426	3,583	3,735	3,901	4,118	4,189
Other deposits	2,170	2,149	2,444	2,665	2,592	2,620	2,606	0
Trade payables	16,130	17,594	16,604	17,361	18,297	15,479	15,113	16,772
Loans	11,168	12,114	13,005	14,849	14,862	14,453	15,112	16,248
Canada short-term paper	142,128	116,782	97,253	98,203	84,362	99,729	107,050	118,941
Other short-term paper	16,946	14,762	12,790	17,307	16,123	17,432	15,132	14,797
Mortgages	3,426	3,734	3,997	4,000	2,773	2,374	2,367	2,304
Canada bonds	330,359	348,389	360,273	359,966	355,308	339,262	331,079	314,716
Provincial bonds	266,144	271,493	284,093	290,756	297,778	306,576	318,629	324,827
Municipal bonds	39,640	39,239	36,108	33,265	35,950	35,845	36,353	35,018
Other bonds	1,389	1,435	1,739	1,754	1,782	1,800	1,818	1,841
Life insurance and pensions	142,952	151,308	169,262	176,572	182,473	174,193	179,441	180,414
Government claims	9,130	9,691	9,416	27,677	27,694	25,946	26,117	24,669
Other liabilities	134,220	142,515	133,062	143,161	144,963	162,501	151,253	157,872
Total liabilities	1,119,039	1,134,547	1,143,472	1,191,119	1,188,692	1,202,111	1,206,188	1,212,608
Financial assets
Currency and deposits	18,458	21,342	21,419	29,175	24,042	25,088	22,439	20,913
Trade receivables	5,229	5,324	5,450	5,773	5,883	6,021	6,162	6,438
Loans	19,679	19,890	19,227	19,457	22,336	25,900	28,161	32,757
Canada short-term paper	6,224	3,763	3,538	3,442	4,882	6,900	7,115	7,647
Other short-term paper	14,884	16,861	18,575	21,386	24,365	18,095	24,654	25,203
Mortgages	5,220	4,759	5,401	5,985	6,701	6,636	6,634	6,561
Canada bonds	18,514	21,656	22,678	24,241	24,204	28,518	26,321	30,532
Provincial bonds	63,258	58,391	56,810	58,742	58,905	60,656	60,944	59,882
Municipal bonds	13,218	13,190	9,870	8,656	8,172	7,991	7,817	7,682
Other bonds	3,846	5,974	8,430	10,553	13,892	15,634	16,361	16,390
Government claims	122,411	121,476	123,922	141,146	153,354	163,656	170,997	162,703
Shares	24,926	32,389	35,077	46,993	54,367	64,520	71,151	78,675
Foreign investments	1,992	3,389	4,132	3,709	4,395	6,167	7,729	8,112
Other financial assets	55,257	61,314	41,770	70,759	79,695	107,225	95,562	116,355
Total financial assets	373,116	389,718	376,299	450,017	485,193	543,007	552,047	579,850
Net financial assets	-745,923	-744,829	-767,173	-741,102	-703,499	-659,104	-654,141	-632,758
Non-financial assets
Residential structures	7,969	7,960	7,775	7,964	7,714	7,913	8,043	8,237
Non-residential structures	267,077	274,321	278,653	284,887	297,515	304,036	314,462	327,388
Machinery and equipment	21,288	21,714	22,498	23,805	25,414	27,925	30,271	31,884
Inventories	362	373	347	408	409	396	301	305
Land	72,333	74,320	75,511	77,537	81,042	82,854	85,914	90,079
Total non-financial assets	369,029	378,688	384,784	394,601	412,094	423,124	438,991	457,893
Total assets	742,145	768,406	761,083	844,618	897,287	966,131	991,038	1,037,743
Net worth	-376,894	-366,141	-382,389	-346,501	-291,405	-235,980	-215,150	-174,865

Source: Statistics Canada, National Balance Sheet Accounts (Table 378-0004).
Note: Data in this table include Canada and Québec Pension Plan liabilities and assets.

International Fiscal Comparisons

Table 54
G-7 general government total tax and non-tax receipts
National Accounts Basis

Year	Canada	United States	Japan	United Kingdom	Germany	France	Italy	G-7 average


	(per cent of GDP)
1960	-	28.3	-	-	-	-	28.2	-
1961	27.9	28.4	-	-	-	-	27.6	-
1962	28.0	28.6	-	-	-	-	28.4	-
1963	28.0	29.1	-	-	-	38.3	29.0	-
1964	29.0	28.0	-	-	-	39.3	30.0	-
1965	29.6	28.0	-	-	-	39.8	29.5	-
1966	30.7	28.6	-	-	-	39.7	29.4	-
1967	32.0	29.0	-	-	-	39.6	30.3	-
1968	33.3	30.5	-	-	-	40.2	30.9	-
1969	35.1	31.7	-	-	-	41.2	30.0	-
1970	35.7	30.5	21.1	44.7	-	40.5	29.6	-
1971	36.3	29.9	22.1	42.8	40.8	39.7	30.3	31.7
1972	36.6	31.0	22.0	40.8	41.2	40.0	30.2	32.1
1973	36.6	31.1	22.9	39.5	43.3	40.0	29.6	32.4
1974	38.7	31.6	24.8	44.1	43.9	40.7	29.0	33.4
1975	37.6	29.7	24.2	44.4	44.1	42.1	29.6	32.6
1976	37.4	30.4	23.7	44.0	45.6	44.3	30.9	33.2
1977	37.3	30.6	24.8	42.8	46.1	44.0	31.9	33.5
1978	36.8	30.7	24.6	39.9	44.9	43.4	33.3	33.2
1979	36.6	30.9	26.3	39.7	44.5	45.2	32.8	33.7
1980	37.5	31.2	27.5	42.4	45.0	46.5	34.5	34.5
1981	39.6	31.8	28.8	44.7	44.8	47.1	34.5	35.3
1982	40.2	31.5	29.1	45.7	45.4	48.2	37.5	35.6
1983	39.7	31.0	29.3	44.7	44.7	49.0	39.6	35.5
1984	39.8	30.9	29.9	44.6	44.9	49.9	38.4	35.6
1985	39.5	31.4	30.2	43.9	45.1	50.3	38.2	35.9
1986	40.4	31.7	30.3	42.9	44.3	49.5	39.2	35.9
1987	40.6	32.4	31.9	41.8	44.0	49.9	39.1	36.4
1988	41.0	32.3	32.0	41.6	43.3	49.0	40.2	36.3
1989	41.2	32.5	32.0	41.3	44.1	48.6	41.1	36.5
1990	42.9	32.4	33.8	40.7	42.5	48.6	42.6	36.7
1991	43.9	32.5	33.3	40.9	44.1	49.1	43.8	37.0
1992	44.2	32.3	33.2	39.3	45.5	48.8	46.1	37.1
1993	43.5	32.6	31.9	37.7	46.2	49.3	47.4	37.1
1994	43.0	33.0	31.0	38.2	46.6	49.4	45.2	37.1
1995	43.2	33.4	31.1	38.9	46.1	49.6	45.8	37.3
1996	43.8	33.9	31.2	38.5	46.9	51.3	46.1	37.8
1997	44.5	34.2	31.3	38.8	46.6	51.8	48.4	38.1
1998	44.5	34.6	30.6	39.9	46.6	51.1	46.8	38.1
1999	44.1	34.7	30.5	40.3	47.3	51.7	47.1	38.3
2000	44.1	35.3	30.7	40.9	47.1	51.1	46.2	38.5
2001	42.8	34.5	31.6	41.0	45.5	50.9	46.0	38.1
2002	41.4	32.0	30.3	39.3	45.0	50.2	45.6	36.4
2003	41.3	30.9	29.8	39.3	45.0	50.4	46.4	35.9

Sources: OECD Economic Outlook No. 75 (June 2004); Statistics Canada; Department of Finance calculations for the G-7 average and Canadian data from 1961 to 1980.

Table 55
G-7 general government total outlays
National Accounts Basis

Year	Canada	United States	Japan	United Kingdom	Germany	France	Italy	G-7 average


	(per cent of GDP)
1960	-	28.5	-	-	-	-	29.2	-
1961	30.6	29.8	-	-	-	-	28.5	-
1962	30.6	29.9	-	-	-	-	29.6	-
1963	30.3	29.7	-	-	-	38.9	30.3	-
1964	29.7	29.2	-	-	-	38.8	30.9	-
1965	29.8	28.7	-	-	-	39.1	33.7	-
1966	30.8	29.6	-	-	-	39.3	33.6	-
1967	32.9	31.5	-	-	-	39.5	32.7	-
1968	33.8	31.8	-	-	-	41.1	33.9	-
1969	33.9	31.5	-	-	-	39.9	33.4	-
1970	36.0	32.5	19.9	42.1	39.1	39.3	33.5	32.4
1971	37.3	32.6	21.2	41.3	40.6	38.7	35.9	33.0
1972	37.5	32.3	22.1	42.5	41.6	38.6	38.4	33.4
1973	36.0	31.3	22.5	43.2	42.1	38.5	37.2	33.0
1974	37.6	32.6	24.5	47.7	45.6	39.7	36.5	34.7
1975	41.1	34.9	26.2	48.9	49.9	43.7	42.0	37.5
1976	40.2	33.7	26.5	48.7	49.1	44.4	40.3	36.7
1977	41.4	32.7	27.6	46.1	48.7	44.0	40.3	36.3
1978	41.6	31.9	28.6	44.3	47.5	44.7	43.5	36.1
1979	40.0	31.8	29.8	43.3	47.2	45.3	42.7	36.1
1980	41.6	33.8	30.7	45.7	47.9	46.6	41.7	37.5
1981	42.5	34.0	31.6	49.1	48.8	49.4	45.6	38.6
1982	47.3	36.3	31.7	48.4	48.9	51.1	47.8	40.2
1983	47.9	36.6	32.0	48.2	47.7	51.8	50.0	40.4
1984	47.5	35.7	31.4	48.3	46.9	52.7	50.1	39.9
1985	48.0	36.5	30.8	46.8	46.3	53.3	50.9	40.1
1986	47.5	36.9	31.0	45.6	45.4	52.7	51.4	40.1
1987	46.1	36.7	31.5	43.6	45.8	51.9	50.8	39.9
1988	45.4	35.9	30.9	41.1	45.3	51.4	51.5	39.1
1989	45.8	35.7	30.2	40.5	44.0	50.4	52.8	38.8
1990	48.8	36.6	31.7	42.2	44.5	50.7	54.4	39.9
1991	52.3	37.4	31.5	44.0	47.1	51.5	55.5	40.9
1992	53.3	38.1	32.5	45.7	48.1	53.0	56.7	41.8
1993	52.2	37.5	34.2	45.7	49.3	55.3	57.7	42.2
1994	49.7	36.6	34.8	45.0	49.0	54.9	54.5	41.5
1995	48.5	36.5	35.8	44.6	49.4	55.1	53.4	41.5
1996	46.6	36.1	36.3	42.7	50.3	55.4	53.2	41.3
1997	44.3	34.9	35.1	41.0	49.3	54.9	51.1	40.0
1998	44.4	34.2	36.1	39.8	48.8	53.7	49.9	39.6
1999	42.5	33.8	37.7	39.2	48.7	53.5	48.9	39.5
2000	41.0	33.7	38.2	37.0	45.7	52.5	46.9	38.7
2001	41.4	34.6	37.7	40.3	48.3	52.5	48.7	39.7
2002	40.6	35.3	38.2	40.9	48.5	53.4	48.0	40.2
2003	40.1	35.7	37.7	42.6	48.9	54.5	48.9	40.6

Sources: OECD Economic Outlook No. 75 (June 2004); Statistics Canada; Department of Finance calculations for the G-7 average and Canadian data from 1961 to 1980.

Table 56
G-7 general government financial balances
National Accounts Basis

Year	Canada	United States	Japan	United Kingdom	Germany	France	Italy	G-7 average


	(per cent of GDP)
1960	-	-0.2	1.3	-0.8	3.0	-	-1.0	-
1961	-2.7	-1.5	1.8	-0.6	2.7	-	-0.9	-
1962	-2.6	-1.3	1.0	0.1	1.4	-	-1.1	-
1963	-2.3	-0.6	0.8	-2.7	0.9	-0.6	-1.3	-0.5
1964	-0.7	-1.2	0.6	-1.0	0.7	0.5	-0.9	-0.5
1965	-0.2	-0.7	0.3	-1.8	-0.6	0.6	-4.2	-0.7
1966	-0.1	-1.0	-0.2	0.2	-0.2	0.4	-4.2	-0.8
1967	-0.8	-2.5	0.6	-0.8	-1.4	0.2	-2.5	-1.5
1968	-0.4	-1.3	0.6	-0.2	-0.8	-0.9	-3.1	-0.9
1969	1.2	0.2	0.9	-0.4	1.1	1.3	-3.4	0.2
1970	-0.4	-2.0	1.2	2.6	0.5	1.2	-3.9	-0.7
1971	-1.0	-2.7	0.8	1.5	0.2	1.1	-5.7	-1.4
1972	-1.0	-1.3	-0.1	-1.7	-0.4	1.4	-8.2	-1.3
1973	0.6	-0.2	0.4	-3.7	1.1	1.4	-7.6	-0.6
1974	1.1	-1.0	0.3	-3.6	-1.7	0.9	-7.5	-1.3
1975	-3.5	-5.2	-2.0	-4.6	-5.8	-1.6	-12.4	-4.8
1976	-2.8	-3.3	-2.7	-4.7	-3.5	-0.1	-9.5	-3.5
1977	-4.1	-2.1	-2.8	-3.3	-2.6	0.0	-8.4	-2.8
1978	-4.8	-1.3	-4.0	-4.4	-2.6	-1.3	-10.2	-2.9
1979	-3.4	-0.9	-3.5	-3.6	-2.7	-0.1	-9.9	-2.4
1980	-4.1	-2.6	-3.2	-3.3	-2.9	0.0	-7.1	-3.0
1981	-2.8	-2.2	-2.8	-4.4	-4.0	-2.2	-11.1	-3.4
1982	-7.0	-4.8	-2.6	-2.7	-3.5	-2.9	-10.3	-4.5
1983	-8.2	-5.6	-2.7	-3.4	-2.9	-2.8	-10.3	-4.9
1984	-7.8	-4.7	-1.5	-3.7	-2.0	-2.8	-11.7	-4.3
1985	-8.6	-5.0	-0.6	-2.9	-1.1	-3.0	-12.7	-4.2
1986	-7.1	-5.2	-0.7	-2.6	-1.1	-3.2	-12.2	-4.3
1987	-5.4	-4.3	0.3	-1.8	-1.8	-2.0	-11.8	-3.5
1988	-4.3	-3.6	1.1	0.5	-2.0	-2.5	-11.3	-2.8
1989	-4.6	-3.2	1.8	0.8	0.1	-1.8	-11.7	-2.3
1990	-5.9	-4.2	2.1	-1.6	-2.0	-2.1	-11.8	-3.2
1991	-8.4	-4.9	1.8	-3.1	-3.0	-2.4	-11.7	-3.9
1992	-9.1	-5.8	0.8	-6.4	-2.6	-4.2	-10.7	-4.7
1993	-8.7	-4.9	-2.4	-7.9	-3.1	-6.0	-10.3	-5.1
1994	-6.7	-3.6	-3.8	-6.7	-2.4	-5.5	-9.3	-4.4
1995	-5.3	-3.1	-4.7	-5.8	-3.3	-5.5	-7.6	-4.2
1996	-2.8	-2.2	-5.1	-4.2	-3.4	-4.1	-7.1	-3.5
1997	0.2	-0.8	-3.8	-2.2	-2.7	-3.0	-2.7	-1.9
1998	0.1	0.4	-5.5	0.1	-2.2	-2.7	-3.1	-1.4
1999	1.6	0.9	-7.2	1.1	-1.5	-1.8	-1.8	-1.1
2000	3.0	1.6	-7.5	3.9	1.3	-1.4	-0.7	-0.2
2001	1.4	-0.2	-6.1	0.7	-2.8	-1.5	-2.7	-1.6
2002	0.8	-3.3	-7.9	-1.6	-3.5	-3.3	-2.4	-3.8
2003	1.2	-4.8	-8.0	-3.2	-3.9	-4.1	-2.5	-4.6

Sources: OECD Economic Outlook No. 75 (June 2004); Statistics Canada; Department of Finance calculations for the G-7 average and Canadian data from 1961 to 1980.

Table 57
G-7 general government net financial liabilities
National Accounts Basis

Year	Canada	United States⁽¹⁾	Japan	United Kingdom	Germany	France	Italy	G-7 average


	(per cent of GDP)
1960	-	47.3	-	-	-15.3	-	-	-
1961	26.1	47.8	-	-	-17.1	-	-	-
1962	25.8	46.1	-	-	-17.3	-	-	-
1963	25.7	44.9	-	-	-17.2	-	-	-
1964	23.9	43.1	-	-	-16.5	-	24.1	-
1965	21.7	40.7	-	-	-14.5	-	27.3	-
1966	19.4	38.3	-	-	-13.5	-	31.0	-
1967	19.2	37.7	-	-	-12.3	-	31.0	-
1968	17.2	36.0	-	-	-10.8	-	33.4	-
1969	13.5	34.0	-14.7	-	-10.7	-	33.3	-
1970	12.7	34.6	-17.3	52.2	-9.6	-	32.0	-
1971	11.5	34.9	-19.2	48.0	-8.4	-	33.9	-
1972	10.5	33.1	-17.2	44.3	-6.9	-	38.3	-
1973	7.9	30.1	-16.1	42.0	-8.9	-	42.0	-
1974	5.7	29.1	-14.2	42.0	-6.9	-	42.4	-
1975	8.7	32.4	-5.6	41.5	-1.5	-	51.2	-
1976	9.6	32.5	5.0	41.5	1.9	-	50.3	-
1977	10.5	31.4	14.4	39.6	4.1	-1.2	50.2	24.1
1978	12.3	29.4	29.7	38.1	6.1	0.0	54.8	26.5
1979	13.7	27.2	39.3	35.5	8.3	-1.7	53.6	27.0
1980	14.4	27.4	45.6	35.8	10.6	-4.3	51.4	28.2
1981	13.5	27.1	54.3	37.5	13.9	-0.2	54.6	30.5
1982	19.2	31.0	60.9	37.1	16.6	1.6	60.5	34.5
1983	25.6	34.2	68.6	37.3	18.4	4.0	65.0	38.3
1984	29.6	35.3	71.5	30.2	19.4	6.8	70.3	39.7
1985	35.3	37.7	69.5	30.8	19.9	9.7	77.0	41.5
1986	39.7	40.8	66.9	31.3	20.1	12.5	81.3	43.2
1987	39.3	42.6	55.6	25.8	21.1	13.3	85.5	42.1
1988	38.2	43.4	46.9	20.5	22.0	15.1	87.6	40.9
1989	41.1	43.3	38.3	15.6	20.5	15.7	90.4	39.3
1990	43.3	44.1	24.6	14.9	21.0	17.5	81.0	36.8
1991	50.0	47.4	12.6	15.3	20.2	18.8	85.7	36.8
1992	58.5	50.3	14.3	22.0	24.5	20.4	94.2	40.5
1993	64.4	52.1	17.7	31.4	28.1	27.1	102.0	44.3
1994	67.4	52.4	20.3	31.5	29.3	28.3	107.1	45.6
1995	69.3	52.0	24.5	37.3	39.6	38.9	105.1	48.5
1996	67.5	51.1	29.7	38.9	42.5	42.6	106.8	49.7
1997	63.5	48.9	35.2	41.0	43.4	43.3	102.9	49.5
1998	60.8	45.2	45.8	41.9	46.1	41.7	104.0	49.8
1999	53.5	40.5	53.6	37.2	45.3	33.6	99.2	47.4
2000	44.9	35.8	59.1	34.2	42.4	34.8	94.9	45.1
2001	40.6	34.2	65.2	31.0	44.1	37.4	93.6	45.3
2002	38.0	36.2	71.4	32.0	48.5	39.4	94.0	47.9
2003	34.9	38.8	79.3	33.6	51.9	42.7	93.5	51.1

^{(1) Adjusted to exclude certain government employee pension liabilities to improve comparability with other countries' debt measures.}
Sources: OECD Economic Outlook No. 75 (June 2004); Federal Reserve, Flow of Funds Accounts of the United States (September 2004); Department of Finance calculations.

Table 58
G-7 general government gross financial liabilities
National Accounts Basis

Year	Canada	United States⁽¹⁾	Japan	United Kingdom	Germany	France	Italy	G-7 average


	(per cent of GDP)
1960	-	59.1	-	-	16.7	-	-	-
1961	68.1	59.9	-	-	16.0	-	-	-
1962	67.0	58.2	-	-	15.6	-	-	-
1963	66.9	57.2	-	-	16.4	-	-	-
1964	63.5	55.4	-	-	16.4	-	35.0	-
1965	60.0	52.8	-	-	17.0	-	37.9	-
1966	56.5	50.0	-	-	17.5	-	38.2	-
1967	56.8	50.1	-	-	20.2	-	37.8	-
1968	55.8	48.4	-	-	20.8	-	41.7	-
1969	52.9	46.1	-	-	18.9	-	42.4	-
1970	54.2	46.6	12.0	77.5	17.9	-	40.8	-
1971	55.2	47.2	13.3	74.1	18.1	-	45.9	-
1972	53.4	45.6	17.6	69.0	18.4	-	52.7	-
1973	47.9	42.9	17.2	64.7	17.0	-	55.2	-
1974	45.8	42.0	18.1	64.9	18.0	-	55.3	-
1975	45.2	45.3	22.9	61.6	23.3	-	61.6	-
1976	43.6	45.5	29.3	61.3	25.4	-	60.6	-
1977	45.0	44.3	34.9	60.4	26.7	29.1	60.7	42.0
1978	47.9	43.2	44.1	57.9	28.1	30.2	66.4	43.7
1979	45.2	41.9	49.3	54.5	29.1	30.5	65.7	43.7
1980	45.5	42.5	55.0	54.3	31.1	30.1	62.7	44.9
1981	46.9	41.6	59.9	55.0	34.8	29.4	64.9	46.0
1982	52.7	46.4	64.0	53.6	37.7	33.5	70.1	50.0
1983	58.4	49.2	69.8	53.7	39.3	34.6	75.3	53.2
1984	61.7	50.7	72.3	60.6	40.1	36.3	80.9	55.6
1985	66.9	54.9	72.1	59.2	40.8	38.0	88.2	58.3
1986	71.0	57.9	75.8	58.5	40.7	38.8	92.7	60.8
1987	71.5	59.2	76.4	60.1	41.8	40.1	97.3	62.2
1988	71.1	59.6	74.1	54.1	42.3	40.0	99.5	61.8
1989	72.3	59.6	70.8	47.8	40.9	39.9	102.5	60.9
1990	74.5	60.9	68.6	43.4	41.5	39.5	111.6	61.5
1991	82.1	65.1	64.8	43.5	38.8	40.3	115.5	63.2
1992	89.9	67.3	68.7	48.5	41.8	44.7	125.0	66.9
1993	96.9	68.7	74.9	58.0	47.4	51.6	126.9	70.8
1994	98.2	67.7	79.7	55.6	47.9	55.3	133.3	71.9
1995	100.8	67.3	87.1	60.5	57.1	62.9	132.4	75.0
1996	100.3	66.2	93.9	60.0	60.3	66.5	134.2	76.4
1997	96.2	63.7	100.3	60.8	61.8	68.2	131.2	76.3
1998	93.9	60.5	112.2	61.0	63.2	70.3	131.2	77.1
1999	89.5	57.1	125.7	55.8	61.6	66.2	125.0	76.4
2000	82.0	51.6	134.1	55.5	60.9	65.2	120.4	74.5
2001	81.0	51.0	142.3	50.3	60.5	64.5	118.0	75.0
2002	77.8	53.0	149.4	50.0	62.8	67.0	117.2	77.4
2003	75.6	55.4	157.3	51.6	65.1	71.1	116.7	80.4

^{(1) Adjusted to exclude certain government employee pension liabilities to improve comparability with other countries' debt measures.}
Sources: OECD Economic Outlook No. 75 (June 2004); Federal Reserve, Flow of Funds Accounts of the United States (September 2004) Department of Finance calculations.

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		Last Updated: 2004-10-12			Important Notices