Search results
- Net operating balance, Canadian general government, federal government and provincial, territorial and local governments, 2008 to 2021. Revenue goes up as gross domestic product surges.
- Federal government expenses by main categories, 2008 to 2021. PTLG revenues went up by $65.8 billion (+10.6%) compared with 2020. Tax revenues grew by 16.8%, mainly driven by higher personal income taxes (+$19.2 billion or +16.6%), taxes on goods and services (+$17.2 billion or +15.2%) and corporate income taxes (+$16.7 billion or +48.0%).
- Net operating balance, provincial, territorial and local governments, by province and territory, 2020 and 2021. Among the provinces, Quebec ($3.9 billion or 0.8% of GDP) and Nova Scotia ($0.4 billion or 0.8% of GDP) posted a surplus in 2021, while other provinces remained in deficit.
- Grant revenue per capita by province for consolidated provincial and local governments, 2020 and 2021. In the territories, federal grants amounted to $57,273 per capita in Nunavut, $44,028 in the Northwest Territories and $35,847 in Yukon.
- Note to Readers
- Report Highlights
- Revenues
- Expenses
- Federal Debt
- Financial Source/Requirement
- Condensed Consolidated Financial Statements of The Government of Canada
The financial results in this report are based on the audited consolidated financial statements of the Government of Canada for the fiscal year ended March 31, 2021, the condensed form of which is included in this report. For the 23rd consecutive year, the government has received an unmodified audit opinion from the Auditor General of Canada on the...
The government posted a budgetary deficit of $327.7 billion for the fiscal year ended March 31, 2021, compared to an estimated deficit of $354.2 billion in the April 2021 budget, mainly reflecting...The budgetary deficit before net actuarial losses was $312.4 billion for the fiscal year ended March 31, 2021. The budgetary balance before net actuarial losses is intended to supplement the tradit...Compared to the 2019–20 fiscal year:The federal debt (the difference between total liabilities and total assets) stood at $1,048.7 billion at March 31, 2021. The federal debt-to-GDP (gross domestic product) ratio was 47.6 per cent, u...Federal revenues can be broken down into five main categories: income tax revenues, other taxes and duties, Employment Insurance (EI) premium revenues, proceeds from the pollution pricing framework and other revenues. Within the income tax category, personal income tax revenues are the largest source of federal revenues, and accounted for 55.2 per ...
Federal expenses can be broken down into four main categories: transfer payments, which account for the majority of all federal spending, other direct program expenses, public debt charges, and net actuarial losses. Transfer payments are classified under five categories: 1. Major transfers to persons, which made up 31.1 per cent of total expenses (...
The federal debt (accumulated deficit) is the difference between the government's total liabilities and its total assets. With total liabilities of $1.7 trillion, financial assets of $502.4 billion and non-financial assets of $101.1 billion, the federal debt stood at $1,048.7 billion at March 31, 2021, up $327.4 billion from March 31, 2020. The $32...
The budgetary balance is the most comprehensive measure of the federal government's fiscal results. It is presented on an accrual basis of accounting, recording government expenses when they are incurred, regardless of when the cash payment is made, and recording tax revenues when earned, regardless of when the cash is received. In contrast, the fi...
The fundamental purpose of these condensed consolidated financial statements is to provide an overview of the financial affairs and resources for which the Government is responsible under authority granted by Parliament. Responsibility for the integrity and objectivity of these statements rests with the Government.
Dec 14, 2021 · Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the Economic and Fiscal Update 2021. The document provides Canadians with a transparent report of the nation’s finances and updates Canadians on the government’s plan to finish the fight against COVID-19, support Canadians and Canadian businesses, and ensure a strong recovery for everyone.
- Department of Finance Canada
Oct 31, 2022 · Put another way, the federal government accumulated $171,613.39 of new debt for every single minute of the 2021/2022 fiscal year. Budget highlights from the 2021/2022 edition of the Public ...
Highlights for 2021-22 . The Debt Management Report consists of three parts covering the main aspects of the Government of Canada's debt program. "Part I – 2021-22 Debt Management Context" focuses on the state of the accumulated deficit (i.e., federal debt), the year's financial requirements and the sources of borrowings used to raise funds, the federal government's credit ratings, and the ...
Mar 24, 2022 · While the 2020 federal deficit stood at $235.8 billion, preliminary data suggested that the deficit was cut in more than half in 2021 to stand at $110.8 billion. The reduction of the federal government's deficit is the result of lower spending on social benefits and subsidies, which are converging back to pre-pandemic levels.
People also ask
What happened to federal government debt in 2021?
How much money does Canada spend on debt in 2021?
What was the budget deficit in 2021?
How much debt does the government have in 2021-22?
Why did the federal government cut the deficit in 2021?
What happened to Canada's government deficit in 2021?
The composition of the federal government debt changed from 2020 to 2021. At the end of 2021, about two-fifths of the stock of federal government debt securities were in the form of bonds with an original maturity of more than 10 years. This proportion was much lower at the end of June 2020, at 30%.
