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Archived - Fiscal Reference Tables
October 2004 : 9

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Table 53
Total government liabilities and assets (millions of dollars)
 National Accounts Basis
  1996 1997 1998 1999 2000 2001 2002 2003
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 (per cent of GDP)
 National Accounts Basis
Year Canada United States Japan United Kingdom Germany France Italy G-7 average
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 (per cent of GDP)
 National Accounts Basis
Year Canada United States Japan United Kingdom Germany France Italy G-7
average
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 (per cent of GDP)
 National Accounts Basis
Year Canada United States Japan United Kingdom Germany France Italy G-7 average
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 (per cent of GDP) 
 National Accounts Basis
Year Canada United
States(1) 		Japan United Kingdom Germany France Italy G-7 average
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 (per cent of GDP) 
 National Accounts Basis
Year Canada United
States(1) 		Japan United Kingdom Germany France Italy G-7 average
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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Date Modified: 2000-01-01

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