Archived - Fiscal Reference Tables
October 2003 : 9

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Table 53 
Total government liabilities and assets (millions of dollars)
National Accounts Basis
  1995 1996 1997 1998 1999 2000 2001 2002
Liabilities
  Currency and bank deposits 2,627 3,237 3,342 3,426 3,583 3,735 3,901 4,118
  Other deposits 2,213 2,170 2,149 2,444 2,665 2,592 2,620 2,606
  Trade payables 16,318 16,130 17,594 16,604 17,361 18,314 15,557 14,983
  Loans 11,624 11,168 12,114 13,005 14,849 14,862 14,453 15,112
  Canada short-term paper 164,230 142,128 116,782 97,253 98,203 84,362 99,729 107,050
  Other short-term paper 18,173 16,946 14,762 12,790 17,306 16,123 17,432 15,132
  Mortgages 3,097 3,426 3,734 3,997 4,000 2,773 2,374 2,367
  Canada bonds 297,160 330,359 348,389 360,273 359,966 355,308 339,262 331,079
  Provincial bonds 268,963 274,068 280,838 296,934 300,285 309,004 319,460 330,803
  Municipal bonds 38,671 39,640 39,239 36,108 33,265 35,950 35,845 36,353
  Other bonds 1,474 1,389 1,435 1,739 1,754 1,782 1,800 1,818
  Life insurance and pensions 133,907 142,952 151,308 169,262 176,572 182,473 174,193 179,441
  Claims by associated enterprises 9,265 9,130 9,691 9,416 27,677 27,694 25,946 26,117
  Other liabilities 125,306 134,174 142,127 132,982 125,639 136,039 153,529 143,147
  Total liabilities 1,093,028 1,126,917 1,143,504 1,156,233 1,183,125 1,191,011 1,206,101 1,210,126
Financial assets
  Currency and deposits 20,437 18,458 21,342 21,419 29,176 24,042 25,088 22,439
  Trade receivables 5,384 5,229 5,324 5,450 5,774 5,883 6,021 6,162
  Loans 19,027 19,679 19,890 19,227 19,457 22,336 25,900 28,161
  Canada short-term paper 10,598 6,224 3,763 3,538 3,444 4,882 6,900 7,115
  Other short-term paper 12,848 14,884 16,861 18,575 21,386 24,365 18,095 24,208
  Mortgages 5,431 5,220 4,759 5,401 5,985 6,701 6,636 6,634
  Canada bonds 15,725 18,514 21,656 22,678 24,241 24,204 28,518 26,321
  Provincial government 61,291 63,258 58,391 56,810 58,738 58,905 60,656 60,944
  Municipal bonds 12,869 13,218 13,190 9,870 8,657 8,172 7,991 7,817
  Other 3,884 3,846 5,974 8,430 10,553 13,892 15,634 16,361
  Claims on associated enterprises 110,611 122,411 111,476 100,222 141,145 153,354 163,657 170,997
  Stocks 18,109 24,926 32,389 35,077 43,917 47,926 50,482 50,981
  Foreign investments 1,660 1,992 3,389 4,132 3,709 4,395 5,672 5,920
  Other financial assets 57,345 57,491 67,301 85,430 68,798 89,419 116,349 107,985
  Total financial assets 355,219 375,350 385,705 396,259 444,980 488,476 537,599 542,045
Net financial assets -737,809 -751,567 -757,799 -759,974 -738,145 -702,535 -668,502 -668,081
Non-financial assets
  Residential structures 7,763 8,010 8,000 7,829 7,965 7,761 7,965 8,049
  Non-residential structures 256,143 267,075 274,864 279,636 287,116 299,015 305,839 315,656
  Machinery and equipment 21,832 21,272 21,838 22,657 23,744 25,523 28,127 29,986
  Inventories 361 362 373 347 408 409 396 301
  Land 69,254 72,352 74,479 75,790 78,114 81,453 83,350 86,220
  Total non-financial assets 355,353 369,071 379,554 386,259 397,347 414,161 425,677 440,212
  Total assets 710,572 744,421 765,259 782,518 842,327 902,637 963,276 982,257
Net worth -382,456 -382,496 -378,245 -373,715 -340,798 -288,374 -242,825 -227,869
Source: Statistics Canada, National Balance Sheet Accounts (Table 378-0004).
Note: Data in this table include Canada and Quebec Pension Plan liabilities and assets.

International Fiscal Comparisons 

Table 54 
G-7 general government total tax and non-tax receipts (per cent of GDP)
National Accounts Basis
 Year  Canada United States  Japan United Kingdom  Germany  France  Italy G-7 average
1960 - 28.2 - - 36.4 - 28.2 -
1961 27.9 28.2 - - 37.5 - 27.6 -
1962 28.0 28.4 - - 37.9 - 28.4 -
1963 28.0 28.8 - - 38.1 38.3 29.0 -
1964 29.0 27.8 - - 37.7 39.3 30.0 -
1965 29.6 27.8 - - 37.1 39.7 29.5 -
1966 30.7 28.5 - - 37.6 39.7 29.4 -
1967 32.0 28.9 - - 38.1 39.6 30.3 -
1968 33.3 30.4 - - 39.0 40.2 30.9 -
1969 35.1 31.5 - - 40.4 41.2 30.0 -
1970 35.7 30.4 21.2 42.7 39.6 40.5 29.6 31.5
1971 36.3 29.8 22.1 40.8 40.8 39.7 30.3 31.4
1972 36.6 30.9 22.0 38.8 41.2 40.0 30.2 31.8
1973 36.6 31.1 22.9 37.7 43.3 40.0 29.6 32.1
1974 38.7 31.6 24.8 41.6 43.9 40.6 29.0 33.2
1975 37.6 29.9 24.4 42.1 44.1 42.1 29.6 32.5
1976 37.4 30.4 23.9 41.4 45.6 44.3 30.9 33.0
1977 37.3 30.6 24.9 40.2 46.1 44.0 31.9 33.3
1978 36.8 30.7 24.8 38.7 44.9 43.4 33.3 33.1
1979 36.6 31.0 26.5 39.1 44.5 45.2 32.8 33.6
1980 37.5 31.3 27.6 41.4 45.0 46.5 34.5 34.4
1981 39.6 31.9 29.0 43.9 44.8 47.1 34.4 35.2
1982 40.2 31.6 29.3 44.3 45.4 48.2 37.5 35.5
1983 39.7 31.1 29.5 43.5 44.7 49.0 39.6 35.4
1984 39.8 31.0 29.9 43.2 44.9 49.9 38.4 35.4
1985 39.5 31.4 30.4 43.0 45.1 50.3 38.2 35.7
1986 40.4 31.7 30.6 42.3 44.3 49.5 39.2 35.8
1987 40.6 32.4 32.0 41.8 44.0 49.9 39.0 36.3
1988 41.0 32.2 32.2 41.6 43.3 48.9 40.2 36.2
1989 41.2 32.4 32.3 41.3 44.1 48.6 41.1 36.4
1990 42.9 32.1 34.1 40.7 42.5 48.6 42.6 36.6
1991 43.9 32.2 33.7 40.9 44.1 49.1 43.8 36.9
1992 44.2 32.2 33.6 39.3 45.5 48.8 46.0 37.1
1993 43.5 32.5 32.2 37.7 46.2 49.3 47.4 37.1
1994 43.0 32.9 31.4 38.2 46.6 49.4 45.3 37.0
1995 43.2 33.3 31.4 38.9 46.1 49.7 45.8 37.2
1996 43.8 33.7 31.6 38.6 46.9 51.4 46.1 37.7
1997 44.5 33.9 31.6 38.9 46.6 51.9 48.4 38.0
1998 44.5 34.3 31.0 40.1 46.6 51.2 46.8 38.0
1999 44.1 34.4 30.9 40.3 47.3 51.8 47.1 38.2
2000 44.2 35.1 31.1 40.9 47.0 51.3 46.2 38.4
2001 43.5 34.4 31.9 41.1 45.5 51.4 45.8 38.1
2002 41.9 32.2 31.4 39.6 45.0 50.9 45.2 36.7
Source: OECD Economic Outlook No. 73 (June 2003); 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 (per cent of GDP)
National Accounts Basis
 Year  Canada United States  Japan United Kingdom  Germany  France  Italy G-7 average
1960 - 28.3 - - 33.4 - 29.2 -
1961 30.6 29.7 - - 34.8 - 28.5 -
1962 30.6 29.8 - - 36.5 - 29.6 -
1963 30.3 29.5 - - 37.2 38.9 30.3 -
1964 29.7 28.9 - - 37.0 38.8 30.9 -
1965 29.8 28.5 - - 37.7 39.1 33.7 -
1966 30.8 29.5 - - 37.7 39.3 33.6 -
1967 32.9 31.3 - - 39.5 39.5 32.7 -
1968 33.8 31.6 - - 39.8 41.1 33.9 -
1969 33.9 31.3 - - 39.4 39.9 33.4 -
1970 36.0 32.4 20.0 40.1 39.1 39.3 33.5 32.1
1971 37.3 32.5 21.3 39.3 40.6 38.7 35.9 32.7
1972 37.5 32.2 22.1 40.5 41.6 38.6 38.4 33.1
1973 36.0 31.3 22.6 41.0 42.1 38.5 37.2 32.7
1974 37.6 32.6 24.6 45.2 45.6 39.7 36.5 34.4
1975 41.1 35.1 26.4 46.5 49.9 43.7 42.0 37.3
1976 40.2 33.7 26.6 46.1 49.1 44.4 40.3 36.4
1977 41.4 32.8 27.7 43.5 48.7 44.0 40.3 36.0
1978 41.6 32.0 28.7 43.0 47.5 44.7 43.5 36.0
1979 40.0 31.9 29.9 42.2 47.2 45.3 42.7 36.0
1980 41.6 33.8 30.8 44.7 47.9 46.6 41.7 37.4
1981 42.5 34.2 31.7 47.8 48.8 49.4 45.5 38.5
1982 47.3 36.4 31.9 47.1 48.9 51.1 47.7 40.0
1983 47.9 36.7 32.1 46.8 47.7 51.8 50.0 40.3
1984 47.5 35.7 31.4 47.2 46.9 52.7 50.1 39.7
1985 48.3 36.5 31.0 45.9 46.3 53.3 50.9 40.0
1986 47.6 37.0 31.2 44.8 45.4 52.7 51.4 40.0
1987 46.1 36.7 31.7 43.6 45.8 51.9 50.8 39.8
1988 45.4 35.8 31.1 41.1 45.3 51.4 51.5 39.0
1989 45.8 35.6 30.5 40.5 44.0 50.4 52.9 38.7
1990 48.8 36.5 32.1 42.2 44.5 50.7 54.3 39.8
1991 52.3 37.2 31.8 44.0 47.1 51.5 55.5 40.8
1992 53.3 38.0 32.8 45.7 48.1 53.0 56.7 41.8
1993 52.2 37.5 34.7 45.7 49.3 55.3 57.7 42.2
1994 49.7 36.5 35.1 45.0 49.0 55.0 54.6 41.4
1995 48.5 36.4 36.1 44.6 49.4 55.2 53.4 41.4
1996 46.6 35.9 36.6 43.0 50.3 55.5 53.2 41.2
1997 44.3 34.8 35.4 41.1 49.3 55.0 51.1 40.0
1998 44.4 34.0 36.5 39.8 48.8 53.8 49.9 39.5
1999 42.3 33.7 38.1 39.1 48.8 53.6 48.9 39.4
2000 41.2 33.6 38.6 37.0 45.9 52.7 46.9 38.7
2001 41.7 34.9 38.0 40.4 48.3 53.0 48.5 39.8
2002 40.6 35.6 38.6 40.9 48.6 54.0 47.7 40.3
Source: OECD Economic Outlook No. 73(June 2003); 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 (per cent of GDP)
National Accounts Basis
 Year  Canada United States  Japan United Kingdom  Germany  France  Italy G-7average
1960 - -0.2 1.3 - 3.0 - -1.0 -
1961 -2.7 -1.5 1.8 - 2.7 - -0.9 -
1962 -2.6 -1.4 1.0 - 1.4 - -1.1 -
1963 -2.3 -0.6 0.7 - 0.9 -0.6 -1.3 -
1964 -0.7 -1.2 0.6 - 0.7 0.5 -0.9 -
1965 -0.2 -0.7 0.3 - -0.6 0.6 -4.2 -
1966 -0.1 -1.0 -0.2 - -0.2 0.4 -4.2 -
1967 -0.8 -2.5 0.6 - -1.4 0.2 -2.5 -
1968 -0.4 -1.3 0.6 - -0.8 -0.9 -3.1 -
1969 1.2 0.2 0.9 - 1.1 1.3 -3.4 -
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 -1.3
1972 -1.0 -1.3 -0.1 -1.7 -0.4 1.4 -8.2 -1.3
1973 0.6 -0.2 0.4 -3.3 1.1 1.4 -7.6 -0.5
1974 1.1 -0.9 0.3 -3.6 -1.7 0.9 -7.5 -1.2
1975 -3.5 -5.2 -2.0 -4.5 -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 -2.7
1978 -4.8 -1.2 -4.0 -4.3 -2.6 -1.3 -10.2 -2.9
1979 -3.4 -0.9 -3.4 -3.1 -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 -3.9 -4.0 -2.2 -11.1 -3.3
1982 -7.0 -4.8 -2.6 -2.8 -3.5 -2.9 -10.2 -4.5
1983 -8.2 -5.6 -2.6 -3.3 -2.9 -2.8 -10.3 -4.9
1984 -7.8 -4.7 -1.5 -4.0 -2.0 -2.8 -11.7 -4.3
1985 -8.9 -5.1 -0.6 -2.9 -1.1 -3.0 -12.7 -4.2
1986 -7.2 -5.3 -0.7 -2.6 -1.1 -3.2 -12.2 -4.2
1987 -5.4 -4.3 0.3 -1.8 -1.8 -2.0 -11.8 -3.4
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 -2.2
1990 -5.9 -4.3 2.0 -1.6 -2.0 -2.1 -11.8 -3.2
1991 -8.4 -5.0 1.8 -3.1 -3.0 -2.4 -11.7 -3.8
1992 -9.1 -5.9 0.8 -6.4 -2.6 -4.2 -10.7 -4.7
1993 -8.7 -5.0 -2.4 -7.9 -3.1 -6.0 -10.3 -5.1
1994 -6.7 -3.6 -3.7 -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 -5.0 -4.4 -3.4 -4.1 -7.1 -3.5
1997 0.2 -0.9 -3.8 -2.2 -2.7 -3.0 -2.7 -2.0
1998 0.1 0.3 -5.5 0.2 -2.2 -2.7 -3.1 -1.5
1999 1.7 0.7 -7.2 1.1 -1.5 -1.8 -1.8 -1.2
2000 3.1 1.4 -7.4 3.9 1.1 -1.4 -0.7 -0.3
2001 1.8 -0.5 -6.1 0.8 -2.8 -1.5 -2.7 -1.8
2002 1.3 -3.4 -7.1 -1.3 -3.6 -3.2 -2.5 -3.7
Source: OECD Economic Outlook No. 73 (June 2003); 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 (per cent of GDP)
National Accounts Basis
Year  Canada United States(1)  Japan United Kingdom  Germany  France  Italy G-7 average
1960 - 47.2 - - -15.3 - - -
1961 26.1 47.8 - - -17.1 - - -
1962 25.8 46.0 - - -17.3 - - -
1963 25.7 44.8 - - -17.2 - - -
1964 23.9 43.1 - - -16.5 - 25.2 -
1965 21.7 40.7 - - -14.5 - 28.5 -
1966 19.4 38.2 - - -13.5 - 32.3 -
1967 19.2 37.6 - - -12.3 - 32.3 -
1968 17.2 35.9 - - -10.8 - 34.9 -
1969 13.5 34.0 -14.7 - -10.7 - 34.7 -
1970 12.7 34.6 -17.3 52.3 -9.6 - 33.4 -
1971 11.5 34.8 -19.3 48.1 -8.4 - 35.3 -
1972 10.5 33.1 -17.3 44.3 -6.9 - 39.9 -
1973 7.9 30.0 -16.1 42.0 -8.9 - 43.8 -
1974 5.7 29.1 -14.2 42.1 -6.9 - 44.2 -
1975 8.7 32.4 -5.6 41.6 -1.5 - 53.4 -
1976 9.6 32.6 5.0 41.5 1.9 - 52.5 -
1977 10.5 31.4 14.5 39.6 4.1 -1.2 52.4 24.1
1978 12.3 29.4 29.8 38.1 6.1 0.0 57.2 26.6
1979 13.7 27.1 39.4 35.5 8.3 -1.7 55.9 27.2
1980 14.4 27.3 45.6 35.8 10.6 -4.3 53.6 28.4
1981 13.5 27.1 54.5 37.5 13.9 -0.2 56.9 30.8
1982 19.2 31.0 61.0 37.1 16.6 1.6 63.0 34.9
1983 25.6 34.3 68.6 37.3 18.4 4.0 67.8 38.8
1984 29.6 35.3 71.3 30.2 19.4 6.8 73.4 40.1
1985 35.3 37.8 69.7 30.8 19.9 9.7 80.4 42.0
1986 39.7 40.9 67.1 31.2 20.1 12.5 84.8 43.7
1987 39.3 42.5 55.7 29.5 21.1 13.3 89.2 42.7
1988 38.2 43.3 47.1 23.8 22.0 15.1 91.5 41.5
1989 41.0 43.2 38.6 19.1 20.5 15.7 94.4 39.8
1990 43.4 44.1 24.8 15.1 21.0 17.5 84.5 37.0
1991 50.1 47.4 12.7 15.3 20.2 18.8 89.4 37.0
1992 59.6 50.5 14.5 21.6 24.4 20.4 98.2 40.8
1993 64.0 52.1 17.9 30.9 27.9 27.1 106.4 44.4
1994 66.7 52.6 20.5 31.1 29.1 28.3 111.8 45.8
1995 68.0 52.0 24.8 36.9 39.6 38.9 109.8 48.5
1996 66.6 51.2 30.5 38.7 42.4 42.6 111.3 50.0
1997 64.3 48.9 35.3 40.1 43.4 43.3 107.4 49.6
1998 60.8 45.0 46.2 41.9 46.0 41.7 108.5 50.1
1999 55.5 40.5 52.8 36.7 44.8 33.6 103.9 47.6
2000 46.6 35.8 58.6 30.9 41.9 34.9 99.3 45.2
2001 43.6 34.5 63.7 28.7 44.3 37.7 97.2 45.5
2002 40.4 36.7 71.7 28.7 47.2 39.7 96.7 48.2
Source: OECD Economic Outlook No. 73 (June 2003); Federal Reserve, Flow of Funds Accounts of the United States (September 2003); Department of Finance calculations.
(1)
Adjusted to exclude certain government employee pension liabilities to improve comparability with other countries' debt measures.
Table 58 
G-7 general government gross financial liabilities (per cent of GDP)
National Accounts Basis
Year  Canada United States(1)  Japan United Kingdom  Germany  France  Italy G-7 average
1960 - 59.0 - - 16.7 - - -
1961 68.1 59.8 - - 16.0 - - -
1962 67.0 58.1 - - 15.6 - - -
1963 66.9 57.1 - - 16.4 - - -
1964 63.5 55.4 - - 16.4 - 35.4 -
1965 60.0 52.7 - - 17.0 - 38.3 -
1966 56.5 49.9 - - 17.5 - 38.6 -
1967 56.8 50.0 - - 20.2 - 38.2 -
1968 55.8 48.4 - - 20.8 - 42.2 -
1969 52.9 46.1 - - 18.9 - 42.9 -
1970 54.2 46.5 11.9 77.6 17.9 - 41.3 -
1971 55.2 47.1 13.2 74.2 18.1 - 46.4 -
1972 53.4 45.5 17.4 69.0 18.4 - 53.3 -
1973 47.9 42.8 17.1 64.7 17.0 - 55.8 -
1974 45.8 42.0 17.9 65.0 18.0 - 55.9 -
1975 45.2 45.4 22.7 61.8 23.3 - 62.3 -
1976 43.6 45.5 29.0 61.4 25.4 - 61.2 -
1977 45.0 44.2 34.5 60.4 26.7 29.1 61.3 41.8
1978 47.9 43.2 43.7 57.9 28.1 30.2 67.1 43.6
1979 45.2 41.9 48.8 54.5 29.1 30.5 66.4 43.6
1980 45.5 42.4 54.3 54.3 31.1 30.1 63.3 44.9
1981 46.9 41.6 59.3 54.9 34.8 29.4 65.5 46.0
1982 52.7 46.3 63.4 53.7 37.7 33.5 70.8 50.0
1983 58.4 49.2 68.9 53.7 39.3 34.6 76.1 53.2
1984 61.7 50.7 71.1 60.7 40.1 36.3 81.8 55.5
1985 66.9 55.0 71.4 59.2 40.8 38.0 89.1 58.4
1986 71.0 58.0 75.1 58.4 40.7 38.8 93.8 60.9
1987 71.5 59.2 75.5 56.1 41.8 40.1 98.3 61.9
1988 71.1 59.6 73.4 49.7 42.3 40.0 100.6 61.5
1989 72.3 59.6 70.4 43.0 40.9 39.9 103.7 60.6
1990 75.1 60.9 68.3 44.4 41.5 39.5 112.8 61.7
1991 82.8 65.2 64.5 44.3 38.8 40.3 116.8 63.4
1992 90.9 67.5 68.4 49.2 41.8 44.7 126.3 67.1
1993 96.2 68.8 74.3 58.1 47.4 51.6 128.2 70.9
1994 97.2 67.9 79.3 55.8 47.9 55.3 134.8 72.0
1995 99.9 67.3 86.6 60.6 57.1 62.9 133.9 75.0
1996 99.2 66.3 93.9 60.1 60.3 66.5 136.0 76.6
1997 97.5 63.5 99.9 60.5 61.8 68.2 133.3 76.5
1998 94.3 60.3 111.2 61.5 63.2 70.4 133.5 77.3
1999 92.5 57.1 124.9 56.3 61.2 66.2 128.0 77.0
2000 83.3 51.7 133.0 51.5 60.5 65.4 124.3 74.8
2001 83.2 51.3 141.5 50.4 60.2 65.0 121.7 75.9
2002 80.4 53.5 147.2 50.3 62.4 67.1 121.2 78.1
Source: OECD Economic Outlook No. 73 (June 2003); Federal Reserve, Flow of Funds Accounts of the United States (September 2003); Department of Finance calculations.
(1)
Adjusted to exclude certain government employee pension liabilities to improve comparability with other countries' debt measures.

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