The FAO produces regular reports analyzing the state of the Province's finances, trends in the provincial economy and estimates of the financial impact of bills or other proposals over which the Legislature has jurisdiction.
This report provides an assessment of Ontario’s current economic outlook and the state of the provincial government’s finances.
This report provides an updated financial assessment of the Province’s health sector and outlines the FAO’s medium-term projection for health spending in Ontario under current policies.
This report reviews the 2018-19 Expenditure Estimates and identifies key issues, including how the 2018-19 Expenditure Estimates compare to the government’s spending plan in the 2018 Ontario Economic Outlook and Fiscal Review. The report also reviews the largest programs funded through the Supply Bill and identifies spending trends and recent developments.
This commentary compares the Low-income Individuals and Families Tax (LIFT) credit to the cancelled minimum wage increase from $14 per hour to $15 per hour. The commentary estimates the change to the Province’s budget balance and reviews the impacts to individuals and families.
This commentary presents a list of all service fees charged by the Province’s ministries and agencies, and identifies which service fee rates changed in 2018-19. The commentary also identifies the most commonly paid service fees, discusses the growth rate of service fee revenue, and examines how cost recovery rates have changed from 2017-18 to 2018-19 for a selection of service fee categories.
This commentary provides an updated comparison of Ontario government revenue, spending, deficit and net debt with that of other provinces.
FAO backgrounders provide primarily descriptive information on issues of interest to Members of Provincial Parliament. Backgrounders are based on information that the FAO has received from the Province.
This backgrounder includes a list of 2017-18 service fee rate changes, a discussion of the growth rate of service fee revenue, and a review of the cost recovery ratios for a selection of service fee categories.
Ontario’s debt is rated by four principal international credit rating agencies, which typically publish an annual update of their view of the province’s finances and the quality of Ontario’s debt.
Following the tabling of Ontario’s 2016 Budget, each of the four rating agencies affirmed their current rating of Ontario’s debt, indicating that they believe the province has taken adequate steps on both revenues and expenditures to achieve its plan to restore fiscal balance by 2017-18.
However, if Ontario’s fiscal position deteriorates beyond 2017-18, either through an easing of expenditure restraint or unexpected revenue weakness, the agencies could be expected to lower Ontario’s credit rating, which could lead to higher borrowing costs and a more challenging fiscal position.
The Province forecasts that it will collect $2.74 billion in service fee revenue in 2016-17. This backgrounder provides a partial list of changes to Provincial service fee rates planned for 2016-17 and includes a discussion of the growth rate of service fee revenue. Service fee revenue has increased by an average of 6.8% a year since 2011-12, largely due to the increase in revenue from vehicle and driver registration fees.