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Key numbers in Canada's provincial budgets

Newfoundland and Labrador becomes 10th province to unveil 2012 fiscal plan

Last Updated: April 24, 2012

Introduction

Here's a look at the 2012 provincial, territorial and federal budgets across the country.

To date, all regions have tabled their budget except for the Northwest Territories, which is slated to unveil its budget in May.

Use the navigation at the left to explore key figures by jurisdiction.



(Photo: Sean Kilpatrick/Canadian Press)

Budget information by region

Use the navigation on the left to read about the provincial and territorial budgets.

British Columbia

This stay-the-course budget designed to maintain B.C.'s triple-A credit rating intends to cap spending.

  • Budget balance: $968,000,000 deficit
  • Revenue (per cent change): +2.9
  • Revenue from federal transfers (per cent of total): 16.8
  • Program spending (per cent change): +3.7
  • Debt to GDP ratio: 26.2%
  • Real GDP growth (this year): 1.8%

Key policy initiatives: $10,000 tax refund to help first-time homeowners buy a newly built home in 2012; Liquor Distribution Branch warehousing and other "surplus assets" to be sold; grants to help seniors make renovations to stay in their homes longer.

CBC story

B.C. Premier Christy Clark, right, looks on as Minister Kevin Falcon delivers the provincial budget in Victoria, Feb. 21, 2012. (Darryl Dyck/Canadian Press)

Alberta

A growing population, rapidly increasing bitumen royalties, strong land sales and a rosy economic outlook allow record-level spending in a pre-election budget.

  • Budget balance: $886,000,000 deficit
  • Revenue (per cent change): +4.6
  • Revenue from federal transfers (per cent of total): 12.2
  • Program spending (per cent change): +3.5
  • Net financial assets to GDP ratio: 4.1%
  • Real GDP growth (this year): 3.8%

Key policy initiatives: Increased benefits for the severely disabled; increased income support for low-income Albertans; introduction of family care clinics.

CBC story

Alberta Finance Minister Ron Liepert tables the provincial budget in Edmonton, Feb. 9, 2012. (Ian Jackson/Canadian Press)

Saskatchewan

Increasing resource revenues, strong growth and low debt result in a budget surplus.

  • Budget balance: $95,000,000 surplus (before transfer to GFSF*)
  • Revenue (per cent change): +1.9
  • Revenue from federal transfers (per cent of total): 14.1
  • Program spending (per cent change): +1.6
  • Public debt to GDP ratio: 11.9%
  • Real GDP growth (this year): 2.8%

Key policy initiatives: Infrastructure spending increases by one third; first-time homebuyers' tax credit; income tax rebate for construction companies building rental housing; a post-secondary scholarship program.

*Growth and Financial Security Fund

CBC story

Saskatchewan Finance Minister Ken Krawetz tables the provincial budget in Regina, March 21, 2012. (Roy Antal/Canadian Press)

Manitoba

Finance Minister Stan Struthers introduced a tax-and-cut budget on April 17.

  • Budget balance: $460,156,000 deficit
  • Revenue (per cent change): +0.3
  • Revenue from federal transfers (per cent of total): 28.1
  • Program spending (per cent change): -1.0
  • Net debt to GDP ratio: 27.4%
  • Real GDP growth: 2.3% (2012)

Key policy initiatives: Taxes on fuel and cigarettes increase and PST will be applied to various services. The dividend tax credit is cut from 11 to 8 per cent. Government is being streamlined, MLA wage increases deferred and the strict rules on Sunday shopping hours will be relaxed.

CBC story

Manitoba Premier Greg Selinger, left, listens as Finance Minister Stan Struthers tables his budget on April 17, 2012. (John Woods/Canadian Press)

Ontario

Finance Minister Dwight Duncan presented a belt-tightening budget that includes a wage freeze.

  • Budget deficit: $15,300,000,000
  • Revenue (per cent change): +2.7
  • Revenue from federal transfers (per cent of total): 19.4
  • Program spending (per cent change): +2.5
  • Debt to GDP ratio: 37.2%
  • Real GDP growth (2012): 1.7%

Key policy initiatives: A wage freeze, mandatory if necessary, for doctors, teachers and provincial civil servants; reduce government contribution to employee pensions, make high-income seniors pay more of their prescription drug costs; reduce the rate of growth of health-care spending to an average of 2.1 per cent per year for three years; implement full-day kindergarten.

CBC story

Ontario Premier Dalton McGuinty, left, shakes hands with Finance Minister Dwight Duncan on March 27, 2012. (Nathan Denette/Canadian Press)

Quebec

Faced with the highest debt ratio of any province, the budget restricts program spending and anticipates gains from previously announced tax and fee increases.

  • Budget balance: $1,500,000,000 deficit
  • Revenue (per cent change): +5.9
  • Revenue from federal transfers (per cent of total): 22.8
  • Program spending (per cent change): +2.0
  • Debt to GDP ratio: 35.2%*
  • Real GDP growth (this year): 1.5%

Key policy initiatives: Payroll tax reduction for firms employing workers 65+; tax break for people who care for the elderly in their homes; $375 million for Montreal's 375th anniversary in 2017; and for the first time, Quebec is to take equity shares in natural resource extraction.

*Based on current accumulated deficits.

CBC story

Quebec Premier Jean Charest, right, applauds Finance Minister Raymond Bachand, centre, as he presents the budget in Quebec City on March 20. (Jacques Boissinot/Canadian Press)

New Brunswick

Program cuts, small revenue hikes, a continued wage freeze and attrition in the civil service are meant to produce a balanced budget in 2014-15.

  • Budget balance: $182,906,000 deficit
  • Revenue (per cent change): +5.2
  • Revenue from federal transfers (per cent of total): 36.8
  • Expenditures (per cent change): +1.3
  • Debt to GDP ratio: 34.1%
  • Real GDP growth: 1.3% (2012)

Key policy initiatives: The sale of $10 million in Crown assets; increases in the property transfer tax and the financial corporation capital tax; $10.3 million for affordable housing.

CBC story

New Brunswick Finance Minister Blaine Higgs tables the provincial budget at the legislature in Fredericton, March 27, 2012. (David Smith/Canadian Press)

New Brunswick

The New Brunswick budget will be tabled on March 27, 2012.

(Andrew Vaughan/Canadian Press)

Prince Edward Island

Finance Minister Wes Sheridan announced job and spending cuts and plans to implement a Harmonized sales tax in 2013.

  • Budget balance: $74,913,000 deficit
  • Revenue (per cent change): +1.3
  • Revenue from federal transfers (per cent of total): 39.9
  • Program spending (per cent change): +0.55
  • Net debt to GDP ratio: 35.6%
  • Real GDP growth: 1.4% (2012)

Key policy initiatives: The HST. Except for health (+4.1%) and education (+1.8%), all departments will see spending cut by 3 to 5 per cent.

CBC story

Province House in Charlottetown. (Andrew Vaughan/Canadian Press)

Nova Scotia

Finance Minister Graham Steele introduced modest tax breaks and initiatives for low-income Nova Scotians in his April 3 budget, which the government says will be its last deficit budget before an expected election.

  • Budget balance: $211,200,000 deficit
  • Revenue (per cent change): +4.3
  • Revenue from federal transfers (per cent of total): 32.1
  • Program spending (per cent change): +3.2
  • Net debt to GDP ratio: 34.8%
  • Real GDP growth: 1.7% (2012)

CBC story

Steele unveils the Nova Scotia budget in Halifax on April 3. (Andrew Vaughan/Canadian Press)

Newfoundland and Labrador

With federal transfers and oil revenues down, Finance Minister Tom Marshall introduced a steady-as-it-goes budget on April 24.

  • Budget balance: $258,400,000 deficit
  • Revenue (per cent change): -10.9
  • Revenue from federal transfers (per cent of total): 9.1
  • Program spending (per cent change): +1.7
  • Net debt to GDP ratio: 25%
  • Real GDP growth: 0.1% (2012)

Key policy initiatives: The government, now running a deficit, will undertake a spending review. Marshall did not announce any significant tax changes but many fees for seniors will drop by 35 per cent.

CBC story

Premier Kathy Dunderdale addresses the House of Assembly in St. John's on March 5, 2012. (Paul Daly/Canadian Press)

Northwest Territories

An increase in the debt ceiling, announced March 15, could fund infrastructure projects, but finance minister Michael Miltenberger said he will "maintain fiscal discipline" in a May budget.

  • Budget balance: $16,739,000 surplus
  • Revenue (per cent change): +2.9
  • Revenue from federal transfers (per cent of total): 76
  • Expenditures (per cent change): +3.4
  • Debt to GDP ratio: 16.4%
  • Real GDP growth: 1.2% (2011)

CBC story

(Chuck Stoody/Canadian Press)

Yukon

The highest population growth rate in Canada and an expanding mining sector have helped produce good economic growth and a budget surplus.

  • Budget balance: $80,009,000 surplus
  • Revenue (per cent change): +7.3
  • Revenue from federal transfers (per cent of total): 71.7
  • Expenditures (per cent change): +4.1
  • Real GDP growth: 3.9% (2011)%

Key policy initiatives: Land development and affordable housing; highway construction; Whitehorse airport improvements.

CBC story

(Chuck Stoody/Canadian Press)

Nunavut

The budget has a surplus despite the fact that spending is outpacing revenue growth.

  • Budget balance: $37,700,000 surplus
  • Revenue (per cent change): +8.0
  • Revenue from federal transfers (per cent of total): 92
  • Expenditures (per cent change): +17.4%
  • Debt exposure: $140,000,000
  • Real GDP growth (this year): 16%*

Key policy initiatives: Pilot treatment program for addictions; higher tobacco taxes ($1/cigarette pack).

*Budget uses Conference Board of Canada estimates.

CBC story

(Nathan Denette/Canadian Press)

Canada

Finance Minister Jim Flaherty tabled a budget on March 29 that promised to return the federal government's books to the black by 2015. The fiscal plan calls for a savings of $5.2 billion per year, with a total reduction of 19,200 public sector jobs.

CBC story

Flaherty delivers his budget in the House of Commons on March 29. (Chris Wattie/Reuters)



 



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