Age Structure:
the distribution of population by age.
Baby Boom Echo Generation:
children of baby boomers, born during the period from 1982 to 1996.
Baby Boom Generation:
people born during the period following World War II, from 1946 to 1965, a period marked by a significant increase in fertility rates and in the number of births.
Business Inputs:
current and capital expenditures that businesses acquire to run their operations and to provide goods and services, such as vehicles and fuel, building materials, computers, office furniture and equipment, and telecommunication services.
a market-based system that can be used for managing and reducing greenhouse gas (GHG) emissions. Each sector will be allocated a specific emissions cap level. Companies within each sector will be allocated permits (i.e., allowances or credits) that represent their right to emit a specific amount of emissions. Should a company’s emissions exceed its allocated permit, it must buy additional permits from those companies that pollute less within the same sector. Such a transfer of permits is referred to as a trade.
Capital Expenditure:
expenditures to acquire or upgrade physical assets including transportation infrastructure, land and buildings, information technology infrastructure and systems, vehicles, marine fleet and aircraft.
Capital Stock:
the dollar value of all the buildings, engineering construction and machinery and equipment in a country. It is difficult to estimate the value of older capital because capital depreciates and becomes obsolete over time.
Capital Tax:
a tax levied on a corporation’s taxable capital comprising capital stock, surpluses, indebtedness and reserves.
Cash Transfer:
a cash payment made from one level of government to another.
a group of persons who have experienced a specific demographic event during a given period, which can be a year. For example, the birth cohort of 1966 consists of the number of persons born in that year.
Constant Dollar:
a notional dollar whose purchasing power remains the same every year, unaffected by price inflation. It is calculated by dividing the actual dollar price of something by a price index, which estimates the change in price from a base year.
Consumer Price Index (CPI):
a measure of consumer prices, the Canadian CPI is produced by Statistics Canada on a monthly basis. The CPI measures the retail prices of a shopping basket of about 300 goods and services including food, housing, transportation, clothing and recreation. The index is weighted to reflect typical household spending patterns. The change in a price index such as the CPI is a measure of inflation. Increases in the CPI are also referred to as increases in the cost of living.
Debt-to-GDP Ratio:
a measurement of the government’s debt as a percentage of the gross domestic product (GDP). It is a measure of the debt in relation to the economy and its capacity to carry and repay debt.
the amount by which government expenses exceed revenues in any given year.
Fiscal Year:
the Province of Ontario’s fiscal year runs from April 1 to March 31.
Greater Golden Horseshoe:
an Ontario geographic region encompassing the Greater Toronto Area and a large part of Central Ontario including Peterborough, Waterloo, Niagara and Simcoe.
Greater Toronto Area (GTA):
a geographical area consisting of the city of Toronto and the regional municipalities of Durham, Halton, Peel and York.
Gross Domestic Product (GDP):
the dollar value of all the goods and services produced within the economy in a year.
Input Tax Credits (ITCs):
a credit of Harmonized Sales Tax (HST) that registrants can claim to recover the tax they paid or owe on their supplies for goods or services they acquired to provide taxable goods and services.
Life Expectancy:
a statistical measure derived from the average number of years of life remaining for a person at a specific age if that person were to experience during his or her life the age-specific mortality rates observed in a given year.
Marginal Effective Tax Rate (METR):
a comprehensive measure of the tax that applies to an incremental dollar of income from new capital investment. It reflects the combined effect of federal and provincial corporate income taxes, rules related to depreciation, investment tax credits, and capital and sales taxes.
Median Age:
the age at which exactly one-half of the population is older and the other half is younger. This measure is often used to compare age structures between jurisdictions.
Natural Increase:
the annual number of births minus the number of deaths.
Net Migration (Ontario):
the difference between the number of people entering and the number of people leaving the province both from other countries and other provinces.
an amount expressed in dollar terms without adjusting for changes in prices (inflation or deflation).
Ontario Child Benefit (OCB):
an income-tested, non-taxable benefit announced in the 2007 Budget that is provided to low-income families with children in Ontario. In July 2008, OCB benefits started to flow monthly. The OCB consolidates social assistance benefits for children and the Ontario Child Care Supplement for Working Families (OCCS) into one benefit that is paid to all low-income families with children, regardless of the source of their income.
Participation Rate:
the share of the population that is in the labour force, whether employed or unemployed and looking for a job.
Population Aging:
in demographic terms, population aging refers to an increasing share of seniors (ages 65+) in the population.
Productivity Growth (Total Factor Productivity):
the difference between the growth in real output and the growth in combined production inputs in the economy (labour, capital and materials). It is an important measure of increasing prosperity in the economy.
Program Spending/Expense:
the expense related to operating and capital programs including amortization.
Real GDP:
a way to express gross domestic product or economic activity in volume terms so that the effects of changing prices are removed.
the amount by which revenues exceed government expenses in any given year.
a tax levied on another tax or a second tax levied on an amount that is already subject to tax.
Total Debt:
the Province’s total borrowings outstanding without taking into consideration any of the Province’s assets.
Total Expense:
the sum of program expense and interest on debt expense.
Value-Added Tax:
a multi-stage tax on consumptions that applies throughout the supply chain regardless of whether the purchase is for use by a business or consumer, but that allows most businesses to be reimbursed for the tax paid on their business inputs through the use of input tax credits.

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