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What is our current financial state?
($Millions) |
|||
2015-16 Budget |
2015-16 Update |
Variance | |
Revenue | 6,567.3 | 5,725.7 | (841.6) |
Net Income of Government Business Enterprises | 409.1 | 363.0 | (46.1) |
Total Revenue | 6,976.4 | 6,0887.7 | (887.7) |
Gross Expenses: | |||
Program Expenses | 7,182.0 | 7,229.8 | 47.8 |
Debt Servicing Expenses | 887.8 | 821.8 | (66.0) |
Total Expenses | 8,069.8 | 8,051.6 | (18.2) |
Deficit | (1,093.4) | (1,962.9) | (869.5) |
Where Does the Money Come From?
December 2015 Estimate ($Millions) |
||
Personal Income Tax | $1,299.4 | 21.3% |
Sales Tax | $1,000.7 | 16.4% |
Health and Social Transfers | $685.1 | 11.2% |
Other Taxes | $655.0 | 10.8% |
Other Provincial Resources | $559.0 | 9.2% |
Offshore Royalties | $551.8 | 9.1% |
Other Federal Sources | $451.8 | 7.4% |
Government Business Enterprises | $363.0 | 6.0% |
Corporate Income Tax | $352.5 | 5.8% |
Fees and Fines | $170.4 | 2.8% |
Where Does the Money Go?
December 2015 - Expenses by Sector ($Millions) |
||
Health Care Sector | $3,071.5 | 38% |
General Government Sector and Legislative Branch | $968.2 | 12% |
Education Sector | $892.4 | 11% |
Post-Secondary Education | $864.4 | 11% |
Debt Expenses | $821.8 | 10% |
Other Social Sector | $790.0 | 10% |
Resource Sector | $643.3 | 8% |
Where do the salary dollars go?
Fall Update 2015-15 ($Millions) |
||
Regional Health Authorities | $1,437.9 | 40% |
Core Government | $899.4 | 25% |
School Boards | $669.0 | 18% |
Memorial University | $439.8 | 12% |
College of the North Atlantic | $104.5 | 3% |
Other ABCs | $75.8 | 2% |
Fiscal Outlook
($Millions) |
||||||
2015-16 Update |
2017-18 Forecast |
2017-18 Forecast |
2018-19 Forecast |
2019-20 Forecast |
2020-21 Forecast |
|
Total Gross Revenue | 6,088.7 | 6,220.6 | 6,680.7 | 6,918.8 | 7,087.9 | 7,139.0 |
Gross Expenses: |
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Program Expenses | 7,229.8 | 7,645.9 | 7,486.6 | 7,584.2 | 7,668.2 | 7,718.2 |
Debt Servicing Expenses | 821.8 | 1,011.5 | 1,1149.5 | 1,267.3 | 1,338.7 | 1,387.2 |
Total Gross Expenses | 8,051.6 | 8,657.4 | 8,636.1 | 8,851.5 | 9,006.9 | 9,105.4 |
Deficit | (1,962.9) | (2,436.8) | (1,955.4) | (1,932.7) | (1,919.0) | (1,966.4) |
Net Debt | 12,436.2 | 15,056.0 | 17,199.3 | 19,215.4 | 21,078.5 | 22,947.6 |
Required Borrowing | 2,400.0 | 3,700.0 | 3,000.0 | 2,500.0 | 1,800.0 | 2,000.0 |
Required Borrowing?
2015-16 - 2020-21 ($Billions) |
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2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
Pension Promissory Notes | $187.7 | $323.7 | $323.3 | $323.3 | $323.3 | $323.3 |
Infrastructure | $597.3 | $607.4 | $521.1 | $434.6 | $325.8 | $301.5 |
Nalcor Equity | $760.0 | $1,331.9 | $666.9 | $208.4 | ($448.0) | ($467.3) |
Interest & Debt Repayment | $376.2 | $541.0 | $676.8 | $788.6 | $864.3 | $923.3 |
Other | $478.8 | $896.0 | $811.9 | $745.1 | $734.6 | $919.2 |
Net Debt Increases
($Billions) |
|
2014-15 | $10.5 |
2015-16f | $12.4 |
2016-17f | $15.1 |
2017-18f | $17.2 |
2018-19f | $19.2 |
2019-20f | $21.1 |
2020-21f | $22.9 |
Email: OurFiscalFuture@gov.nl.ca
Telephone - Toll-Free: 1.844.805.3494
Government Renewal Initiative
Executive Council
P.O. Box 8700 Main Floor, West Block Confederation Building
St. John's, NL A1B 4J6
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