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Archived - Fiscal Reference Tables
October 2006 : 9

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Table 53 
Total government liabilities and assets
National Accounts Basis (millions of dollars)
  1998 1999 2000 2001 2002 2003 2004 2005
Liabilities
   Currency and bank deposits 3,426 3,583 3,735 3,901 4,118 4,189 4,293 4,509
   Other deposits 2,444 2,665 2,592 2,620 2,606 0 0 0
   Trade payables 16,604 17,361 18,297 15,479 15,242 16,859 16,522 20,380
   Loans 13,005 14,849 14,862 14,216 14,986 15,840 16,826 16,146
   Canada short-term paper 97,253 98,203 84,362 99,729 107,050 118,941 118,787 129,632
   Other short-term paper 12,790 17,307 16,123 18,109 21,932 21,066 18,524 13,947
   Mortgages 3,997 4,000 2,773 2,144 2,095 2,054 2,036 2,029
   Canada bonds 360,273 359,966 355,308 339,262 331,079 314,716 295,056 285,530
   Provincial bonds 288,426 290,369 296,328 306,994 324,049 322,509 339,856 351,343
   Municipal bonds 36,108 33,265 35,950 35,805 36,268 37,081 38,959 39,706
   Other bonds 1,739 1,754 1,782 1,800 2,617 3,090 3,433 3,741
   Life insurance and pensions 169,262 176,572 182,473 168,178 179,647 180,722 186,921 190,528
   Government claims 9,416 19,431 20,847 19,851 20,582 21,674 20,164 15,194
   Other liabilities 141,764 151,477 147,110 177,831 163,540 171,557 176,174 212,287
   Total liabilities 1,156,507 1,190,802 1,182,542 1,205,919 1,225,811 1,230,298 1,237,551 1,284,972
 
Financial assets
   Currency and deposits 21,419 29,175 24,042 25,091 22,598 22,672 25,448 25,445
   Trade receivables 5,450 5,773 5,883 5,958 6,098 6,236 6,041 6,313
   Loans 19,227 19,457 22,336 26,003 29,900 35,519 40,795 44,976
   Canada short-term paper 3,538 3,442 4,882 6,900 7,115 7,647 7,873 9,166
   Other short-term paper 18,575 21,386 24,365 18,095 31,391 33,347 48,507 65,023
   Mortgages 5,401 5,985 6,701 5,871 5,893 7,045 7,672 7,303
   Canada bonds 22,678 24,241 24,204 28,518 26,321 30,532 28,546 28,470
   Provincial bonds 56,810 58,742 58,905 60,656 60,944 59,882 60,398 61,401
   Municipal bonds 9,870 8,656 8,172 7,991 7,817 7,682 7,740 8,631
   Other bonds 8,430 10,553 13,892 15,634 16,361 16,390 17,551 24,536
   Government claims 133,211 156,229 172,366 184,537 190,487 189,406 190,370 191,341
   Shares 35,077 46,993 54,367 64,520 64,634 71,252 70,644 74,947
   Foreign investments 4,132 3,709 4,395 6,167 7,729 8,112 7,526 7,050
   Other financial assets 63,911 50,596 58,139 73,591 61,913 70,594 72,062 109,216
   Total financial assets 407,729 444,937 482,649 529,532 539,201 566,316 591,173 663,818
Net financial assets -748,778 -745,865 -699,893 -676,387 -686,610 -663,982 -646,378 -621,154
 
Non-financial assets
   Residential structures 7,775 7,964 7,714 7,853 8,098 8,226 8,401 8,552
   Non-residential structures 278,898 285,052 298,231 303,460 313,018 326,067 347,920 363,374
   Machinery and equipment 22,281 23,633 25,294 27,635 30,252 29,939 30,779 31,324
   Inventories 347 408 409 396 301 370 406 261
   Land 75,573 77,580 81,228 82,660 85,560 89,727 96,985 101,896
   Total non-financial assets 384,874 394,637 412,876 422,004 437,229 454,329 484,491 505,407
   Total assets 792,603 839,574 895,525 951,536 976,430 1,020,645 1,075,664 1,169,225
 
Net worth -363,904 -351,228 -287,017 -254,383 -249,381 -209,653 -161,887 -115,747
Source: Statistics Canada, National Balance Sheet Accounts (Table 378-0004).
Note: Data in this table include Canada Pension Plan and Quebec Pension Plan liabilities and assets.

International Fiscal Comparisons

Table 54 
National Accounts Basis
Year Canada United States Japan United Kingdom Germany France Italy G7 average
1970 35.7 30.2 22.0 44.8 39.6 40.0 30.1 31.9
1971 36.3 29.7 23.0 42.8 40.8 39.3 30.7 31.8
1972 36.6 30.9 22.9 40.8 41.2 39.5 30.5 32.3
1973 36.6 31.0 23.8 39.5 43.3 39.5 29.9 32.6
1974 38.7 31.6 25.8 44.1 43.9 40.2 29.5 33.7
1975 37.6 29.8 25.4 44.4 44.1 41.6 29.8 32.9
1976 37.4 30.5 24.9 44.0 45.6 43.8 31.2 33.5
1977 37.3 30.8 26.0 42.8 46.1 43.4 32.5 33.8
1978 36.8 30.9 25.8 39.9 44.9 42.9 33.4 33.5
1979 36.6 31.2 27.6 39.7 44.5 44.7 32.9 34.0
1980 37.5 31.5 28.9 42.4 45.0 46.0 34.7 34.9
1981 39.6 32.3 30.2 44.7 44.8 46.4 34.8 35.7
1982 40.2 32.0 30.6 45.7 45.4 47.3 37.6 36.1
1983 39.7 31.3 30.7 44.8 44.7 47.7 39.5 35.8
1984 39.8 31.3 31.3 44.6 44.9 48.5 38.2 35.8
1985 39.5 31.8 31.5 43.9 45.1 48.6 38.0 36.0
1986 40.4 32.0 31.5 42.9 44.3 48.0 39.0 36.0
1987 40.6 32.7 32.9 41.8 44.0 48.5 38.8 36.6
1988 41.0 32.6 33.0 41.6 43.3 47.6 39.9 36.4
1989 41.2 32.9 32.8 41.3 44.1 47.2 40.7 36.7
1990 43.0 32.8 33.9 40.7 42.5 47.4 42.0 36.8
1991 43.9 32.9 33.4 40.9 43.3 48.2 43.2 37.0
1992 44.2 32.8 33.3 39.6 44.8 47.8 45.3 37.1
1993 43.5 33.0 32.0 38.1 45.3 48.6 46.7 37.1
1994 43.0 33.4 31.4 38.6 45.6 48.8 44.4 37.1
1995 43.2 33.8 31.4 39.1 45.1 49.0 45.1 37.3
1996 43.8 34.3 31.8 38.9 46.0 50.4 45.5 37.9
1997 44.5 34.6 31.9 39.3 45.6 50.7 47.6 38.2
1998 44.9 35.1 31.4 40.3 45.9 50.0 46.2 38.4
1999 44.3 35.2 31.3 40.7 46.7 50.9 46.5 38.5
2000 44.1 35.8 31.5 41.3 46.4 50.1 45.3 38.7
2001 42.6 34.9 32.3 41.6 44.7 50.0 44.9 38.2
2002 41.2 32.5 30.9 40.0 44.3 49.4 44.4 36.5
2003 40.9 31.8 30.5 40.0 44.3 49.4 44.7 36.1
2004 40.6 31.7 31.0 40.6 43.3 50.0 44.3 36.1
2005 41.0 32.8 31.7 41.9 43.5 51.4 44.0 37.0
Source: OECD Economic Outlook, No. 79 (June 2006).
Table 55 
National Accounts Basis
G7 general government total outlays (per cent of GDP)
Year Canada United States Japan United Kingdom Germany France Italy G7 average
1970 36.0 32.3 20.8 42.1 39.1 39.4 33.3 32.7
1971 37.3 32.4 22.2 41.4 40.6 38.8 35.4 33.2
1972 37.5 32.2 23.0 42.5 41.6 38.8 37.4 33.6
1973 36.0 31.2 23.5 43.1 42.1 38.8 36.3 33.1
1974 37.6 32.6 25.6 47.7 45.6 40.1 35.8 34.9
1975 41.1 35.0 27.4 48.9 49.9 43.9 40.1 37.6
1976 40.2 33.8 27.6 48.7 49.1 44.8 39.1 37.0
1977 41.4 32.9 28.8 46.1 48.7 44.4 39.5 36.6
1978 41.6 32.1 29.8 44.2 47.5 44.0 41.9 36.2
1979 40.0 32.1 31.1 43.3 47.2 44.7 41.2 36.3
1980 41.6 34.1 32.1 45.7 47.9 45.9 41.6 37.8
1981 42.5 34.5 33.0 49.1 48.8 48.4 45.7 39.0
1982 47.3 36.8 33.2 48.4 48.9 49.9 47.6 40.5
1983 47.9 36.9 33.3 48.1 47.7 50.1 49.7 40.7
1984 47.5 36.0 32.9 48.3 46.9 51.0 49.7 40.1
1985 48.3 36.8 32.1 46.8 46.3 51.2 50.4 40.3
1986 47.6 37.2 32.2 45.6 45.4 50.7 51.0 40.3
1987 46.1 37.0 32.6 43.6 45.8 50.2 50.4 40.1
1988 45.4 36.2 31.9 41.1 45.3 49.9 51.0 39.3
1989 45.8 36.1 31.1 40.5 44.0 48.8 52.1 39.0
1990 48.8 37.1 31.8 42.2 44.5 49.3 53.5 40.0
1991 52.3 37.8 31.6 44.0 46.1 50.5 54.6 40.9
1992 53.3 38.5 32.6 46.1 47.3 51.7 55.7 41.9
1993 52.2 38.0 34.3 46.1 48.3 54.3 56.7 42.2
1994 49.7 37.0 35.6 45.3 47.9 54.2 53.5 41.5
1995 48.5 37.0 36.5 45.0 48.3 54.4 52.5 41.6
1996 46.6 36.5 36.9 43.1 49.3 54.5 52.5 41.3
1997 44.3 35.4 36.0 41.5 48.3 53.7 50.2 40.1
1998 44.8 34.7 37.3 40.2 48.1 52.6 49.3 39.7
1999 42.7 34.3 38.8 39.7 48.2 52.6 48.2 39.6
2000 41.1 34.2 39.2 37.5 45.1 51.6 46.1 38.8
2001 42.0 35.3 38.7 40.9 47.5 51.5 48.0 39.9
2002 41.3 36.3 39.0 41.7 48.0 52.6 47.4 40.6
2003 40.9 36.7 38.5 43.3 48.3 53.6 48.2 41.0
2004 39.9 36.4 37.3 44.0 47.0 53.7 47.8 40.5
2005 39.3 36.6 36.9 45.1 46.8 54.4 48.2 40.6
Source: OECD Economic Outlook, No. 79 (June 2006).
Table 56 
National Accounts Basis
G7 general government financial balances (per cent of GDP)
Year Canada United States Japan United Kingdom Germany France Italy G7 average
1970 -0.4 -2.0 1.2 2.6 0.5 0.6 -3.2 -0.7
1971 -1.0 -2.7 0.8 1.5 0.2 0.5 -4.7 -1.4
1972 -1.0 -1.3 -0.1 -1.7 -0.4 0.7 -6.9 -1.3
1973 0.6 -0.2 0.4 -3.6 1.1 0.7 -6.4 -0.6
1974 1.1 -1.0 0.3 -3.6 -1.7 0.1 -6.3 -1.3
1975 -3.5 -5.2 -2.0 -4.5 -5.8 -2.3 -10.3 -4.8
1976 -2.8 -3.3 -2.7 -4.6 -3.5 -1.0 -7.9 -3.5
1977 -4.1 -2.1 -2.8 -3.3 -2.6 -1.0 -7.0 -2.7
1978 -4.8 -1.3 -4.0 -4.4 -2.6 -1.1 -8.5 -2.7
1979 -3.4 -0.9 -3.5 -3.6 -2.7 -0.1 -8.3 -2.3
1980 -4.1 -2.6 -3.2 -3.2 -2.9 0.1 -7.0 -2.9
1981 -2.8 -2.2 -2.8 -4.4 -4.0 -2.0 -10.9 -3.3
1982 -7.0 -4.8 -2.6 -2.7 -3.5 -2.6 -10.0 -4.5
1983 -8.2 -5.6 -2.7 -3.4 -2.9 -2.4 -10.1 -4.9
1984 -7.8 -4.7 -1.5 -3.6 -2.0 -2.6 -11.5 -4.3
1985 -8.9 -5.0 -0.6 -2.9 -1.1 -2.6 -12.4 -4.3
1986 -7.2 -5.2 -0.7 -2.6 -1.1 -2.7 -12.0 -4.3
1987 -5.4 -4.3 0.3 -1.8 -1.8 -1.7 -11.6 -3.5
1988 -4.3 -3.6 1.1 0.5 -2.0 -2.3 -11.1 -2.9
1989 -4.6 -3.2 1.8 0.8 0.1 -1.6 -11.4 -2.3
1990 -5.8 -4.2 2.1 -1.6 -2.0 -1.8 -11.5 -3.2
1991 -8.4 -4.9 1.8 -3.1 -2.8 -2.3 -11.4 -3.9
1992 -9.1 -5.8 0.8 -6.5 -2.5 -3.9 -10.4 -4.8
1993 -8.7 -4.9 -2.4 -7.9 -3.0 -5.8 -10.0 -5.1
1994 -6.7 -3.6 -4.2 -6.8 -2.3 -5.4 -9.1 -4.4
1995 -5.3 -3.1 -5.1 -5.8 -3.2 -5.5 -7.4 -4.2
1996 -2.8 -2.2 -5.1 -4.2 -3.3 -4.1 -7.0 -3.4
1997 0.2 -0.8 -4.1 -2.2 -2.6 -3.0 -2.7 -1.9
1998 0.1 0.4 -5.9 0.1 -2.2 -2.6 -3.1 -1.3
1999 1.6 0.9 -7.5 1.0 -1.5 -1.7 -1.8 -1.0
2000 2.9 1.6 -7.7 3.8 1.3 -1.5 -0.9 -0.1
2001 0.7 -0.4 -6.4 0.7 -2.8 -1.6 -3.1 -1.7
2002 -0.1 -3.8 -8.2 -1.7 -3.7 -3.2 -3.0 -4.1
2003 0.0 -5.0 -8.0 -3.3 -4.0 -4.2 -3.5 -4.8
2004 0.7 -4.7 -6.3 -3.3 -3.7 -3.7 -3.5 -4.4
2005 1.7 -3.8 -5.2 -3.2 -3.3 -2.9 -4.3 -3.7
Source: OECD Economic Outlook, No. 79 (June 2006).
Table 57 
National Accounts Basis
G7 general government net financial liabilities (per cent of GDP)
Year   Canada United 
States(1)		 Japan United Kingdom Germany France Italy G7 average
1970 12.6 33.6 -18.4 47.3 -9.6 0.8 - 17.5
1971 11.5 33.9 -20.4 46.5 -8.4 1.0 - 17.3
1972 10.5 32.1 -18.3 41.6 -6.9 2.0 - 16.6
1973 7.9 28.9 -17.1 38.3 -8.9 1.1 - 14.5
1974 5.6 28.2 -15.1 35.0 -6.9 0.2 - 14.2
1975 8.6 31.4 -5.9 33.1 -1.5 0.9 - 18.0
1976 9.6 31.6 5.3 32.4 1.9 -0.6 - 20.3
1977 10.4 30.4 15.3 37.1 4.1 -1.2 - 22.0
1978 12.3 28.4 31.6 32.9 6.1 0.0 - 23.8
1979 13.6 26.1 41.7 29.5 8.3 -1.7 - 24.2
1980 14.4 26.3 48.4 30.1 10.6 -4.3 - 25.5
1981 13.4 26.0 57.6 24.2 13.9 -0.2 - 27.2
1982 19.1 30.0 64.6 29.9 16.6 1.6 - 31.5
1983 25.5 33.3 72.8 30.4 18.4 3.9 - 35.3
1984 29.5 34.3 75.9 25.8 19.4 6.6 - 36.6
1985 35.2 36.7 73.8 26.5 19.9 9.4 - 38.0
1986 39.5 39.8 71.0 26.5 20.1 12.1 - 39.6
1987 39.1 41.6 59.0 25.8 21.1 12.9 - 38.6
1988 38.0 42.4 49.8 20.5 22.0 14.7 - 37.2
1989 40.9 42.3 40.7 15.6 20.5 15.3 - 35.2
1990 43.3 43.1 26.1 14.9 21.0 17.1 - 33.5
1991 50.0 46.3 13.3 15.5 19.7 18.5 - 33.3
1992 58.5 49.4 14.7 22.5 24.0 20.0 - 36.6
1993 64.4 51.7 18.1 32.3 27.4 26.8 - 40.3
1994 67.4 51.1 20.8 33.0 28.6 29.7 - 41.0
1995 69.3 50.3 25.0 38.9 38.7 37.5 98.3 47.6
1996 67.5 49.1 29.4 41.1 41.6 41.8 104.1 48.8
1997 63.5 45.9 35.1 43.1 42.4 42.2 104.9 48.3
1998 60.8 41.8 46.6 44.4 45.4 40.5 108.1 48.6
1999 55.1 36.7 54.1 39.9 44.8 33.6 102.2 45.7
2000 46.6 32.0 60.4 36.8 41.9 35.1 96.6 43.3
2001 42.8 30.5 66.1 33.4 43.4 36.7 97.3 43.4
2002 41.0 33.2 72.8 34.1 47.5 41.8 97.1 46.5
2003 35.3 36.1 77.3 34.7 50.4 44.2 96.2 48.8
2004 31.1 37.8 82.2 36.9 54.5 44.4 97.7 50.9
2005 26.3 38.7 86.3 40.6 58.4 44.0 98.6 52.5
Sources: OECD Economic Outlook, No. 79 (June 2006); Federal Reserve, Flow of Funds Accounts of the United States (June 2006); Department of Finance calculations.
(1) Adjusted to exclude certain government employee pension liabilities to improve comparability with other countries' debt measures.
Table 58 
National Accounts Basis
G7 general government gross financial liabilities (per cent of GDP)
Year Canada United 
States(1)		 Japan United Kingdom Germany France Italy G7 average
1970 54.1 46.6 12.0 81.0 17.9 39.9 - 40.1
1971 55.2 47.2 13.3 83.4 18.1 37.4 - 40.7
1972 53.4 45.6 17.6 74.9 18.4 35.1 - 39.7
1973 47.9 42.9 17.2 69.8 17.0 32.4 - 37.2
1974 45.7 42.0 18.1 66.5 18.0 30.7 - 36.5
1975 45.1 45.3 22.9 64.9 23.3 30.9 - 39.5
1976 43.5 45.5 29.3 61.5 25.4 29.3 - 40.4
1977 45.0 44.3 34.9 68.2 26.7 28.8 - 41.4
1978 47.9 43.2 44.1 60.6 28.1 29.8 - 42.2
1979 45.1 41.9 49.3 57.0 29.1 30.2 - 42.1
1980 45.5 42.5 55.0 56.0 31.1 29.8 - 43.5
1981 46.8 41.6 59.9 47.5 34.8 29.0 - 43.6
1982 52.5 46.4 64.0 51.7 37.7 32.9 - 48.0
1983 58.2 49.2 69.8 51.6 39.3 33.6 - 50.9
1984 61.5 50.7 72.3 51.4 40.1 35.3 - 52.5
1985 66.7 54.9 72.2 50.1 40.8 36.7 - 54.9
1986 70.8 57.9 75.9 49.7 40.7 37.7 - 57.3
1987 71.2 59.2 76.4 48.9 41.8 39.1 - 58.3
1988 70.9 59.6 74.1 42.8 42.3 38.9 - 57.6
1989 72.0 59.6 70.8 36.9 40.9 38.9 - 56.5
1990 74.5 60.9 68.6 33.0 41.5 38.6 - 56.7
1991 82.1 65.1 64.8 33.6 37.9 39.7 - 58.3
1992 89.9 67.3 68.6 39.8 41.0 43.9 - 61.5
1993 96.9 68.7 74.7 49.6 46.3 51.0 - 65.6
1994 98.2 67.7 80.2 47.8 46.7 60.2 - 66.7
1995 100.8 67.3 87.7 52.7 55.8 62.6 121.9 73.2
1996 100.3 66.2 95.3 52.5 58.9 66.3 128.3 75.0
1997 96.2 63.7 102.3 53.2 60.4 68.4 130.2 75.1
1998 93.9 60.4 114.9 53.7 62.2 69.9 132.5 76.0
1999 91.2 56.7 128.9 48.7 60.8 66.2 126.7 75.1
2000 82.7 50.9 137.1 45.7 59.9 65.0 121.6 72.5
2001 82.9 50.5 145.2 41.1 59.3 63.6 121.1 73.0
2002 80.5 52.7 154.0 41.3 61.6 66.7 120.0 75.8
2003 75.7 56.0 160.2 41.9 64.6 71.0 117.9 78.6
2004 72.2 56.7 168.1 44.1 67.9 73.4 119.4 80.9
2005 69.3 57.1 172.1 47.2 69.6 76.5 121.4 82.3
Sources: OECD Economic Outlook, No. 79 (June 2006); Federal Reserve, Flow of Funds Accounts of the United States (June 2006); 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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