Contents
Foreword
- Managing Responsibly
- Investing in People
- Investing in Modern Infrastructure
- Dynamic and Innovative Business Climate
- The Need for a Committed Federal Partner
- Conclusion
Chapter I: Creating Jobs and Growing the Economy
Section A: Jobs and Growth
- Introduction
- 1. Investing in People
- 2. Investing in Modern Infrastructure
- 3. Supporting a Dynamic and Innovative Business Climate
Section B: Managing Responsibly
- Ontario’s Path to Balance
- An Efficient and Accountable Government
- Moving Forward on Recommendations of the Commission on the Reform of Ontario’s Public Services
- Public-Sector Compensation
- Executive and Members of Provincial Parliament Compensation
- Health Care System Changes
- School Board Efficiencies and Modernization
- Managing the Size of the Ontario Public Service
- Improving Accountability
- Balanced Choices
Chapter II: Economic Outlook
- Highlights
- Overview
- Recent Economic Developments
- Global Economic Developments and Outlook
- Outlook for Ontario Economic Growth
- Details of the Ontario Economic Outlook
Chapter III: Fiscal Outlook
Section A: Overview
Section B: 2013–14 Fiscal Performance
Section C: Details of Ontario’s Finances
Chapter IV: The Need for a Committed Federal Partner
- Highlights
- The Case for Committed Partnerships
- A Committed Federal Partner to Build the Economy Together
- A Committed Federal Partner to Strengthen the Retirement Income System
- A Committed Federal Partner to Invest in Healthy Ontario Communities
- A Committed Federal Partner to Establish a Fair Fiscal Arrangement
- Impacts of Unilateral Federal Actions
Chapter V: Retirement Income Security
- Highlights
- Strengthening Ontario’s Retirement Income System
- A Strategy to Enhance Retirement Savings
Chapter VI: Taxation
- Highlights
- Introduction
- Support for People
- Support for Business
- A Fair and Efficient Tax System
- Property Tax
- Other Measures
Chapter VII: Borrowing and Debt Management
- Highlights
- Long-Term Public Borrowing
- Debt
- Residual Stranded Debt Update
- Total Debt Composition
- Debt-to-GDP Ratios
- Cost of Debt
- Risk Exposure
Chapter VIII: Pre-Budget Consultations
Tables
Chapter I: Creating Jobs and Growing the Economy
Chapter II: Economic Outlook
- Table 2.1 Ontario Economic Outlook
- Table 2.2 Outlook for External Factors
- Table 2.3 Impacts of Sustained Changes in Key External Factors on Ontario’s Real GDP Growth
- Table 2.4 The Ontario Economy, 2011 to 2016
- Table 2.5 Private-Sector Forecasts for Ontario Real GDP Growth
- Table 2.6 Changes in Ministry of Finance Key Economic Forecast Assumptions: 2013 Budget Compared to 2013 Fall Economic Statement
Chapter III: Fiscal Outlook
- Table 3.1 2013–14 In-Year Fiscal Performance
- Table 3.2 Summary of Revenue Changes since the 2013 Budget
- Table 3.3 Summary of Expense Changes since the 2013 Budget
- Table 3.4 Fiscal Summary
- Table 3.5 Revenue
- Table 3.6 Total Expense
- Table 3.7 Other Expense
- Table 3.8 2013–14 Infrastructure Expenditures
- Table 3.9 Ten-Year Review of Selected Financial and Economic Statistics
Chapter VII: Borrowing and Debt Management
Charts
Chapter I: Creating Jobs and Growing the Economy
- Chart 1.1 Ontario Job Recovery Ahead of Key Competitors
- Chart 1.2 Poverty Reduction Strategy Helps Lower Child Poverty
- Chart 1.3 Canadian Corporate Cash Balances Above Long-Term Average
- Chart 1.4 Ontario Business Investment Lags Canada and the United States
- Chart 1.5 Ontario Business R&D Spending Below the U.S.
- Chart 1.6 Ontario’s 2013 Budget Plan to Eliminate the Deficit
- Chart 1.7 Year-Over-Year Program Expense Changes
- Chart 1.8 Ontario Wage Settlements
- Chart 1.9 Ontario Public Service Staffing Levels
Chapter II: Economic Outlook
- Chart 2.1 Ontario Real GDP since 2008–09 Recession
- Chart 2.2 Employment Gains Concentrated in Full-Time, Private-Sector, Above-Average Wage Jobs
- Chart 2.3 Ontario Job Recovery Ahead of U.S. and OECD Average
- Chart 2.4 Global Economic Growth to Improve
- Chart 2.5 Strengthening U.S. Recovery
- Chart 2.6 Oil Prices to Remain High
- Chart 2.7 Canadian Dollar to Remain Close to Parity
- Chart 2.8 Interest Rates to Rise Gradually
- Chart 2.9 Household Spending, Business Investment and Trade Will Support Economic Growth
- Chart 2.10 Employment Expected to Rise over the Medium Term
- Chart 2.11 Housing in Ontario to Remain Affordable
- Chart 2.12 Canadian Household Debt Remains Elevated
- Chart 2.13 Household Net Worth Improving
- Chart 2.14 Ontario Business Machinery and Equipment Investment Lags the United States
- Chart 2.15 Exports Expected to Increase
- Chart 2.16 Weaker Private-Sector Outlook for Growth in 2013 and 2014
Chapter III: Fiscal Outlook
- Chart 3.1 Composition of Revenue, 2013–14
- Chart 3.2 Composition of Total Expense, 2013–14
- Chart 3.3 Composition of Program Expense, 2013–14
Chapter IV: The Need for a Committed Federal Partner
- Chart 4.1 In 2013–14, Ontario’s Fiscal Capacity Is Fifth but Federal Transfers Bring Ontario to Last
- Chart 4.2 Net Contribution to Equalization by Province, 2013–14
Chapter V: Retirement Income Security
Chapter VI: Taxation
Chapter VII: Borrowing and Debt Management
- Chart 7.1 2013–14 Borrowing
- Chart 7.2 Residual Stranded Debt since April 1, 1999
- Chart 7.3 Total Debt Composition as at September 30, 2013
- Chart 7.4 Net Debt-to-GDP
- Chart 7.5 Accumulated Deficit-to-GDP
- Chart 7.6 Effective Interest Rate (Weighted Average) on Total Debt
- Chart 7.7 Interest Rate Exposure
- Chart 7.8 Foreign Exchange Exposure
