Ontario Province Of 18-K Annual report (foreign governments)

Exhibit 99.2

ADDITIONAL INFORMATION RELATING TO THE PROVINCE ¹

	Page Number
Overview	3
Area and Population	3
Government	3
Constitutional Framework	3
Operational Framework	3
Implications for Provincial Financial Statements	3
Foreign Relations	4
The Budget and Quarterly Reporting	4
Public Finance	5
Revenue	5
Taxation	5
Non-tax	9
Public Debt	16
Publicly Held Debt Summary	16
Debt Issuances Since 2013-14 Fiscal Year End	17
Outstanding Debt Tables as at Fiscal Year End	20
SEC Registered Debt	38
Ontario Electricity Industry	40
Contingent Liabilities	42
Obligations Guaranteed by the Province of Ontario	42
Claims Against the Crown	44
Economic Data Tables	46
Ontario Economy
Ontario, Gross Domestic Product (GDP), 2000–2013	47
Ontario, Gross Domestic Product (GDP), Annual Change, 2000–2013	48
Ontario, Selected Economic Indicators, 2000–2013	49
Ontario, Selected Economic Indicators, Annual Change, 2000–2013	50
Ontario, Real Gross Domestic Product by Industry at Basic Prices, 2000–2013	51
Ontario, Real Gross Domestic Product by Industry at Basic Prices, Annual Change, 2000–2013	53
Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2000–2013	55
Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, Annual Change, 2000–2013	56
Ontario, Housing Market Indicators, 2000–2013	57
Selected Financial Indicators, 2000–2013	59
G20 Comparison
Ontario and the G20, Real Gross Domestic Product, Annual Change, 2000–2013	60
Ontario and the G20, Employment, Annual Change, 2000–2013	62

¹  Any dollar amounts in Exhibit 99.2 are expressed in Canadian dollars ($) unless otherwise specified or the context otherwise requires.

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Ontario and the G20, Unemployment Rates, 2000–2013	64
Ontario and the G20, CPI Inflation Rates, 2000–2013	66
Ontario, International Merchandise Trade
Ontario, International Merchandise Exports by Major Commodity, 2013	68
Ontario, International Merchandise Imports by Major Commodity, 2013	69
Ontario, International Merchandise Exports by Top 25 Trading Partners, 2013	70
Ontario, International Merchandise Imports by Top 25 Trading Partners, 2013	71
Demographic Characteristics
Ontario, Selected Demographic Characteristics, 2006–2014	72
Ontario, Components of Population Growth, 2004–05 to 2013–14	73
Ontario Labour Markets
Ontario, Labour Force, 2000–2013	74
Ontario, Employment, 2000–2013	75
Ontario, Unemployment, 2000–2013	76
Employment Insurance (EI) and Social Assistance, 2000–2013	77
Ontario, Labour Compensation, 2000–2013	78
Ontario, Employment by Occupation, 2000–2013	79
Ontario, Distribution of Employment by Occupation, 2002–2013	80
Ontario, Employment by Industry, 2000–2013	81
Ontario, Employment by Industry, Annual Change, 2000–2013	83
Ontario, Employment Level by Economic Regions, 2003–2013	84
Ontario, Employment Level by Industry for Economic Regions, 2013	85
Ontario Economic Regions	87
(Note: Data in the tables may not add to totals due to rounding.)

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OVERVIEW

Area and Population

The Province of Ontario covers an area of approximately 1,076,395 square kilometres (415,598 square miles), about 10.8% of Canada, and is about 11.0% as large as the United States. The estimated population of Ontario on July 1, 2014 was 13.7 million, or 38.5% of Canada’s population of 35.5 million. Since 1993, the populations of Ontario and Canada have increased at average annual rates of 1.2% and 1.0%, respectively. Although it constitutes only 12% of the area of the Province, southern Ontario is home to approximately 94.1% of its population (as of July 1, 2013). The population of the Greater Toronto Area, the largest metropolitan area in Canada, was estimated to be 6.5 million on July 1, 2013.

Government

Canada is a federation with a parliamentary system of government. Constitutional responsibilities are divided between the federal government, the 10 provinces and the 3 territories.

The Premier of the Province of Ontario (the “Premier”) is traditionally the leader of the political party with the greatest number of members elected to the Legislative Assembly. The Cabinet through the Lieutenant Governor, who represents the Crown, formally exercises executive power. Cabinet ministers are usually nominated from among members of the Premier’s party. The Legislative Assembly consists of 107 seats, each representing a specified territorial division of the Province, and is elected for a four-year term. A dissolution of the Legislative Assembly prior to the end of the four-year term may be requested by the Premier at the Premier’s own volition or if the government loses the confidence of the Legislative Assembly by being defeated on an important vote.

The last Provincial election was held on June 12, 2014. The Ontario Liberal Party currently has 58 seats in the Legislative Assembly, the Progressive Conservative Party of Ontario has 28 seats, the New Democratic Party of Ontario has 20 seats and there is 1 vacant seat. The current government of the Province is formed by the Ontario Liberal Party.

Constitutional Framework

Canada is a federation and its constitution (“Constitution”) establishes the division of responsibilities between the federal and provincial levels of government. Each provincial government and the federal government has supremacy within its respective sphere of assigned responsibilities. Jurisdiction over the establishment and operation of municipalities is granted exclusively to the provinces.

The federal government is empowered to raise money by any mode or system of taxation. It has exclusive jurisdiction over such matters as the regulation of trade and commerce, currency and coinage, banks and banking, national defence, foreign affairs, postal services, railways and navigation, as well as those areas not exclusively assigned to the provinces. Each province has authority to raise revenue through direct taxation within the province. Areas of provincial constitutional authority include health care, education, social services, municipal institutions, property and civil rights, and natural resources.

Operational Framework

Ontario administers its constitutional responsibilities through government ministries and provincially created bodies such as government-owned corporations (“Crown corporations”), agencies, boards, commissions, municipalities, school boards and hospital boards. The use of these quasi-independent bodies decentralizes the administration of provincial responsibilities. However, the Province has elected to centralize the financing of these bodies by retaining the major taxing and borrowing powers at the provincial level. Some municipalities borrow in their own names in various capital markets as did Ontario Hydro prior to its restructuring in April 1999.

Implications for Provincial Financial Statements

The provincial governments’ delivery of services in areas such as health, postsecondary education and social assistance has been supported by transfer payments from the federal government, often established through federal-provincial agreements. In fiscal year 2014-15, approximately 18.5% of the Province’s revenue is expected to come from federal transfers.

Federal-provincial funding arrangements can be complex and extensive, involving financial relationships between the Province, the federal government and provincially-created bodies. These financial interrelationships are important in understanding the revenue, expense and financing activity of the Province. Investing in provincially- created bodies has an impact on the reporting of assets. As at March 31, 2014, approximately 23.4% (2013, 23.4%) of the Financial Assets of the Province could be attributed to these intermediary activities.

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Foreign Relations

The Province has no direct diplomatic relations with foreign countries, but has developed a high degree of international activity in order to facilitate investment in Ontario.

The Budget and Quarterly Reporting

Traditionally, a Budget is tabled each year by the Ontario Minister of Finance in the Legislative Assembly, setting out the expense and revenue forecast for activities to be undertaken for Provincial purposes. In addition, the Fiscal Transparency and Accountability Act, 2004 (the “FTAA”) requires the Minister of Finance to release specified information to the public. In accordance with the FTAA, a publication entitled Ontario Finances provides a quarterly update to reflect in-year developments, budget performance and policy actions, and the Ontario Economic Outlook and Fiscal Review traditionally provides a more comprehensive update of second quarter numbers. The FTAA, among other things, also requires that quarterly information about Ontario’s economic accounts be released to the public.

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PUBLIC FINANCE

Revenue - Taxation

For the year ended March 31, 2014

This schedule summarizes the sources of the Province’s revenue by main classification.

	2014 $		2013 $
TAXATION
Personal Income Tax		26,928,850,454		25,573,836,197
Sales Tax		20,481,137,704		20,957,365,596
Corporations Tax		11,422,895,621		12,093,047,448
Education Property Tax		5,456,818,494		5,510,541,765
Employer Health Tax		5,282,545,110		5,137,107,267
Ontario Health Premium		3,128,109,437		3,066,623,565
Gasoline Tax		2,363,021,552		2,390,305,974
Land Transfer Tax		1,601,495,421		1,476,576,552
Tobacco Tax		1,110,166,339		1,141,960,327
Fuel Tax		718,076,869		709,862,784
Beer and Wine Tax		557,002,644		560,453,625
Electricity Payments-In-Lieu of Taxes		543,000,000		324,000,000
Corporation Preferred Share Dividend Tax		181,339,633		206,112,308
Estate Administration Tax		142,782,976		128,133,244
Gross Revenue Charge – Property Tax Component		19,040,811		18,160,362
Provincial Land Tax		12,024,676		7,222,129
Mining Profits Tax		11,728,509		110,479,545
Race Tracks Tax		4,227,018		4,540,538
Acreage Tax – The Mining Act		1,745,550		1,973,765
TOTAL TAXATION		79,966,008,818		79,418,302,991

Source: Ontario Ministry of Finance

For 2014, the Ontario Personal Income Tax rates are: 5.05% for taxable income of up to $40,120; 9.15% for taxable income over $40,120 and up to $80,242; 11.16% for taxable income over $80,242 and up to $150,000; 12.16% for taxable income over $150,000 and up to $220,000; and 13.16% for taxable income over $220,000. For 2013, the Ontario Personal Income Tax rates are: 5.05% for taxable income of up to $39,723; 9.15% for taxable income over $39,723 and up to $79,448; 11.16% for taxable income over $79,448 and up to $509,000; and 13.16% for taxable income over $509,000. For 2012, the Ontario Personal Income Tax rates are: 5.05% for taxable income of up to $39,020; 9.15% for taxable income over $39,020 and up to $78,043; 11.16% for taxable income over $78,043 and up to $500,000; and 12.16% for taxable income over $500,000. Ontario non-refundable tax credits are provided for individual and family circumstances (e.g., basic amount, spouse, medical expenses) at the rate of 5.05% (11.16% for charitable donations in excess of $200), before calculating the provincial surtax or Ontario Tax Reduction. Ontario non-refundable tax credit amounts are indexed annually.

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Higher-income earners are subject to a surtax. For 2014, the surtax is equal to 20% of Ontario income tax in excess of $4,331, plus 36% of Ontario income tax in excess of $5,543. For 2013, the surtax is equal to 20% of Ontario income tax in excess of $4,289, plus 36% of Ontario income tax in excess of $5,489. For 2012, the surtax is equal to 20% of Ontario income tax in excess of $4,213, plus 36% of Ontario income tax in excess of $5,392.

The Ontario Tax Reduction eliminates Ontario personal income tax if Ontario tax payable is below a threshold amount. If Ontario tax exceeds the taxfiler’s threshold amount, the individual may be eligible to pay a reduced amount of Ontario tax. For 2014, the basic threshold amount is $223 and the additional amount for each dependent child aged 18 and under and each disabled or infirm dependant is $413. For 2013, the basic threshold amount is $221 and the additional amount for each dependent child aged 18 and under and each disabled or infirm dependant is $409. For 2012, the basic threshold amount is $217 and the additional amount for each dependent child aged 18 and under, and each disabled or infirm dependant is $401.

The Harmonized Sales Tax (HST) is a single value-added sales tax based on the Federal Goods and Services Tax (GST). It is imposed under Federal legislation. The provincial portion of the HST is 8% and the federal portion is 5%, for a combined HST rate of 13%. Responsibility for the collection of the tax rests with the Federal Government. HST revenues are distributed to the Province based on a revenue allocation formula. Ontario also maintains an 8% sales tax on certain types of insurance and a 13% sales tax on private transfers of used vehicles. Ontario administers both the sales tax on insurance premiums and on private sales of used vehicles. The Sales Tax amounts reported by the Province are net of sales tax credits of $1,637,351,687 in 2013-14 and $1,602,163,031 in 2012-13.

Corporations Tax is comprised of the following taxes on income and insurance premiums. Details of these taxes follow. Ontario eliminated its corporate capital tax effective July 1, 2010.

Income tax: The general statutory Corporate Income Tax (CIT) rate of 14% was reduced to 12% on July 1, 2010 and to 11.5% on July 1, 2011. The general CIT rate was scheduled to be further reduced to 11% on July 1, 2012 and to 10% on July 1, 2013. However, the 2012 Ontario Budget and budget bills froze the general CIT rate at 11.5%. The Government announced that it would take steps to re-institute these CIT rate reductions when Ontario’s budget is balanced, which is anticipated in 2017-18. Active business income from manufacturing and processing (M&P), mining, logging, fishing and farming is subject to a lower CIT rate of 10%, effective July 1, 2010. Small Canadian-controlled private corporations (CCPCs) are also eligible for a lower CIT rate of 4.5%, effective July 1, 2010, on the first $500,000 of Ontario ‘active business income. Effective for taxation years ending after May 1, 2014 (prorated for taxation years, the lower CIT rate of 4.5% is phased out for large CCPCs (and associated groups of CCPCs) with more than $10 million in taxable capital employed in Canada in the previous year and is fully eliminated for large CCPCs (and associated groups of CCPCs) with taxable capital employed in Canada in the previous year in excess of $15 million. The Province also levies a Corporate Minimum Tax (“CMT”), on large corporations that effectively acts as a pre-payment of regular CIT. CMT is calculated as the amount by which 2.7% of adjusted net income for accounting purposes exceeds CIT payable.

Insurance premiums tax: Insurance companies that transact business in Ontario are subject to a 2% insurance premiums tax on accident and sickness and life insurance premiums, 3% on any other type of insurance premiums and an additional 1/2% on property insurance premiums. Other corporations are also subject to these same rates of insurance premiums tax on premiums paid to unlicensed insurers. All corporations are also subject to a 2% insurance premiums tax for payments made in respect of uninsured benefit arrangements.

Education property taxes are collected by municipalities in areas with municipal organization and areas deemed to be attached to the municipality. The Ministry of Finance collects the tax in areas without municipal organization. The taxes collected are transferred to school boards for the purposes of funding education. Under the Education Act, the Minister of Finance sets the property tax rate for each property class. These rates are set annually. Rates the commercial, industrial and pipeline property classes vary across the Province. The rate for the residential property class is the same across the Province. For 2014 the rate was 0.203%. The Education Property Tax amounts shown are net of $1,071,091,728 in property tax credits and grants in 2013-14 and $946,345,000 in 2012-13. The amounts also reflect a number of rebates, reductions and exemptions available across the Province.

The Employer Health Tax is paid by employers on their Ontario payroll. Employers with annual Ontario payroll of $200,000 or less calculate tax payable at 0.98% of their taxable annual Ontario payroll; employers with annual Ontario payroll over

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$200,000 and up to $400,000 calculate tax payable at graduated rates that apply to their taxable annual Ontario payroll starting at 1.101% through to 1.829%; and employers with annual Ontario payroll in excess of $400,000 calculate tax payable at 1.95% of their taxable annual Ontario payroll. A private sector employer does not pay tax on the first $400,000 of the employer’s Ontario payroll. Private sector employers who are associated with one another are required to share this exemption. Beginning January 1, 2014, the exemption amount was increased from $400,000 to $450,000. In addition, if an employer has an Ontario payroll in excess of $5,000,000 or if the employer together with all the employers who are associated with the employer have a combined Ontario payroll in excess of $5,000,000, the exemption amount for the employer is nil Registered charities continue to claim the tax exemption at all payroll sizes.

Gasoline Tax is levied on gasoline, aviation fuel and propane used in a licensed motor vehicle. The tax rate for gasoline is 14.7 cents per litre. The tax rate for propane used in licensed motor vehicles is 4.3 cents per litre. For aviation fuel, the tax rate is as follows:

• 2.7 cents per litre for fuel purchased after December 31, 1991 and before September 1, 2014

• 3.7 cents per litre for fuel purchased after August 31, 2014 and before April 1, 2015

• 4.7 cents per litre for fuel purchased after March 31, 2015 and before April 1, 2016

• 5.7 cents per litre for fuel purchased after March 31, 2016 and before April 1, 2017

• 6.7 cents per litre for fuel purchased after March 31, 2017

The majority of tax is collected for the Province by Ministry designated gasoline, propane, and aviation fuel wholesalers.

Land Transfer Tax is payable on the transfer of land or an interest of land in Ontario. One-half of 1% is levied on the value of consideration for the conveyance up to and including $55,000; 1.0% on the value of consideration exceeding $55,000 up to and including $250,000; 1.5% on the value of consideration exceeding $250,000; and, where the value of the consideration exceeds $400,000 and the property contains one or two single family residences, an additional tax of one-half of 1% applies on the value of consideration exceeding $400,000. First time home buyers who purchase newly constructed homes or resale homes are eligible to receive a refund of land transfer tax of up to $2,000.

Tobacco Tax covers all forms of tobacco products. As of May 2, 2014 the specific tax rate per cigarette and per gram or part gram of fine cut tobacco and all other tobacco products except cigars is 13.975 cents. The rate of tax on cigars is 56.6% of the taxable price. The majority of tax is collected for the Province by Ministry designated tobacco and cigar wholesalers.

Fuel Tax is levied on every purchaser of clear middle distillate fuel used in internal combustion engines. The fuel tax rate is 14.3 cents per litre, unless the fuel is used in railway equipment, in which case the rate is 4.5 cents per litre. The majority of tax is collected for the Province by Ministry designated wholesalers.

Beer and Wine Taxes were effective July 1, 2010. These taxes replaced certain alcohol charges and were revenue neutral for the Ontario Government. Taxes apply on every purchaser of beer from a beer manufacturer’s on-site store, The Beer Store, or a licensed establishment. Taxes are also imposed on purchasers of draft beer made by a brew pub and wine and wine coolers from a winery retail store.

Electricity payments in lieu of taxes (PILs) are made by OPG, HOI and municipal electric utilities to the Ontario Electricity Financial Corporation (OEFC). OEFC is the Ontario Hydro successor company that is responsible for servicing and retiring the debt and certain other liabilities of the former Ontario Hydro. All PILs received by OEFC are used to service and retire its obligations. The amount of PILs replicates the amount of tax that would be payable under the Income Tax Act (Canada) and Taxation Act, 2007 (Ontario) if these publicly owned corporations were not exempt from federal and provincial corporate taxes. These corporations also make payments in lieu of additional property taxes.

The federal government remits to the Province 35% of the net taxes that it collects with respect to preferred share dividends paid by corporations with operations in Ontario.

The Estate Administration Tax is payable by the estate of a deceased person in respect of the value of the person’s estate. The amount of tax is equal to $5 for each $1,000, or part thereof, of the first $50,000 of the value of the estate and $15 for each $1,000, or part thereof, of the value of the estate exceeding $50,000. If the value of the estate does not exceed $1,000, the estate is exempt from this tax.

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The Gross Revenue Charge (GRC) is payable to the Ministry of Finance by hydro-electric generating stations owners and water power leaseholders. Effective January 1, 2001, the existing property taxes and water rental charges paid by hydro-electric generating station owners and water power leaseholders were replaced with taxes and charges on the gross revenues of hydro-electric generating stations. The Property Tax component is included as taxation for the Province and the Water Rental component of the GRC is included under Other Revenue – Royalties.

Provincial Land Tax is levied on land in areas without municipal organization at the rates prescribed by regulation. The rate that applies depends on which property class the land is classified and whether the land is in a locality as defined by the Assessment Act.

Ontario levies a mining tax on profits in excess of $500,000 derived from Ontario mining operations (excluding diamond-mining). The tax rate applied to non-remote mines is 10%. An exemption is available for up to $10 million of profit earned in the first 3 years by a new non-remote mine or a major expansion of an existing non-remote mine. Remote mines are eligible for a reduced mining tax rate of 5%. An exemption is available for up to $10 million of profit earned in the first 10 years by a new mine opened in a remote Ontario location. Diamonds are excluded from mining tax and are subject to a royalty on the value of a diamond mine’s output. The royalty rate is the lesser of 13% and the amount calculated on the value of output according to a graduated rate scale.

The Race Tracks Tax, which is collected by the operators of race meets and remitted to the Province, is levied at the rate of 0.5% on all wagers.

The Acreage Tax is a tax levied on patented mining rights at a rate of 50 cents per acre per year with a minimum payment of $1 in organized municipalities and $4 in unorganized municipalities.

The Ontario Health Premium is paid by individuals and is calculated based on and individual’s taxable income. The Ontario Heath Premium for individuals is nil for individuals with taxable income of $20,000 or less. For individuals with taxable income over $20,000 the Ontario Health premium is calculated as follows:

• if an individual’s taxable income is more than $20,000 but not more than $25,000 the premium is 6% of the individual’s taxable income that exceeds $20,000.

• if an individual’s taxable income is more than $25,000 but not more than $36,000, the premium is $300.

• if an individual’s taxable income is more than $36,000 but not more than $38,500 the premium is $300 plus 6% of the individual’s taxable income that exceeds $36,000.

• if an individual’s taxable income is more than $38,500 but not more than $48,000, the premium is $450.

• if an individual’s taxable income is more than $48,000 but not more than $48,600 the premium is $450 plus 25% of the individual’s taxable income that exceeds $48,000 .

• if an individual’s taxable income is more than $48,600 but not more than $72,000, the premium is $600.

• if an individual’s taxable income is more than $72,000 but not more than $72,600, the premium is $600 plus 25% of the individual’s taxable income that exceeds $72,000.

• if an individual’s taxable income is more than $72,600 but not more than $200,000, the premium is $750.

• if an individual’s taxable income is more than $200,000 but not more than $200,600, the premium is $750 plus 25% of the individual’s taxable income that exceeds $200,000.

• if an individual’s taxable income is more than $200,600, the premium is $900.

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Revenue - Non-tax

For the year ended March 31, 2014

	2014 $		2013 $
GOVERNMENT OF CANADA
Canada Health Transfer		11,940,375,000		11,315,154,000
Canada Social Transfer		4,688,634,000		4,590,792,000
Equalization		3,169,357,000		3,260,666,000
Labour Market Development Agreement		622,514,780		607,074,327
Social Housing Agreement		474,114,712		482,694,567
Indian Welfare Services Agreement		226,737,744		220,250,058
Labour Market Agreement		192,529,000		189,935,784
Infrastructure Programs		122,893,336		116,438,044
Wait Times Reduction Fund		96,281,000		96,823,000
Bilingualism Development		85,154,040		88,135,338
Labour Market Agreement for Persons with Disabilities		76,411,477		76,411,478
Youth Criminal Justice Act		52,433,204		65,544,142
Legal Aid – Criminal		51,336,853		50,277,124
Growing Forward		35,079,488		34,306,398
Student Assistance		23,948,215		23,754,755
Immigration Holds Agreement		21,233,740		17,445,914
Targeted Initiative for Older Workers		11,669,804		13,467,365
Electronic Medical Record (EMR) Project		11,055,500		13,248,500
Bridge Training Program		6,240,000		10,000,000
Interoperable Electronic Health Record Project (iEHR/HIAL)		5,152,686		4,005,899
Police Officers Recruitment Fund		0		31,360,000
Other		363,467,833		353,063,330
TOTAL GOVERNMENT OF CANADA		22,276,619,412		21,660,848,023

Source: Ontario Ministry of Finance

The Canada Health Transfer (“CHT”) is a federal block cash transfer that supports health care spending in the provinces and territories. The CHT is allocated among provinces and territories based on population and the value of personal and corporate income tax points transferred to provinces in 1977-78. To receive CHT cash transfers, provinces and territories must comply with the principles of the Canada Health Act.

The Canada Social Transfer (“CST”) is a federal block cash transfer that supports provincial and territorial expenditures on postsecondary education, social assistance and other social programs. Since 2007-08, the CST has been allocated to provinces and territories on an equal per capita cash basis. To receive CST cash transfers, provinces and territories cannot impose residency requirements in determining eligibility for social assistance.

Equalization is the federal government’s transfer program for addressing fiscal disparities among provinces. Equalization payments are unconditional – receiving provinces are free to spend the funds according to their own priorities.

On November 23, 2005 the Government of Ontario and the Government of Canada entered into a Labour Market Development Agreement (“LMDA”), which provides for the transfer to Ontario of labour market development programs and services

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previously run by the federal government. LMDA funding supports Ontario’s skills and employment training programs, particularly for those who are eligible for Employment Insurance (“EI”) benefits. The LMDA is funded under the legislative authority of Part II of the Employment Insurance Act.

Social Housing reimbursements are the federal portion of the cost of subsidizing low-rental housing programs. The Province receives funding from the Canada Mortgage and Housing Corporation (“CMHC”) to administer social housing in Ontario.

Indian Welfare Services Agreement payments assist the Province in providing welfare services and programs to persons living on Indian reserves. Under the agreement, the welfare services and programs that are provided on reserves are equal to those available to persons living in other communities.

On February 21, 2008 the Government of Ontario and the Government of Canada signed the Canada-Ontario Labour Market Agreement (“LMA”). The LMA provides funding for labour market programs and services that focus on skills development for unemployed individuals who are not eligible for Employment Insurance benefits and employed individuals who do not have a high school diploma or recognized certification, or who have low levels of literacy and essential skills.

Infrastructure funding to Ontario is provided through the Building Canada Fund, the Agreement for Investment in Affordable Housing, and other agreements that support construction, renewal, improvement and expansion of the Province’s physical capital, including roads, bridges, public transit and water systems.

The Wait Times Reduction Fund was established at the September 2004 First Ministers’ Meeting to assist provinces and territories in reducing medical wait times by investing in key activities in areas of training and hiring of health professionals, capacity building for regional centres of excellence and backlog clearance.

Bilingualism Development reimbursements are the federal government’s portion of the cost of providing services in both official languages and of providing adequate educational facilities for teaching the second official language. The federal government also contributes to Ontario’s initiatives in French-language schools, such as the establishment of administrative structures in new French-language school boards, and initiatives designed to improve the achievements of French-language students.

Under the Labour Market Agreement for Persons with Disabilities (“LMAPD”), the federal government provides contributions to the Province to support measures that will enhance the economic participation in the labour market of working age adults with disabilities by helping them prepare for, attain and retain employment.

Youth justice transfer payment programs are ongoing, and mandated under the Youth Criminal Justice Act. The federal government cost shares a portion of the Youth Justice Services expenditures.

Legal Aid payments are the federal government’s contribution to assist in providing legal aid services to economically disadvantaged people in serious criminal matters and proceedings under the Youth Criminal Justice Act. They also help ensure that certain minimum standards of legal aid are maintained in accordance with the Agreement Respecting Legal Aid in Criminal Law, the Youth Criminal Justice Act and immigration and refugee matters.

Growing Forward is a federal-provincial-territorial initiative that supports agriculture business risk management and non-business risk management programs. The Growing Forward Framework Agreement supports the development of a profitable, innovative agri-food sector that is adept at managing risk and responsive to market demands.

Student Assistance includes Canada Study Grants and the administration of Canada Student Loans. Canada Study Grants are provided to students with dependants, high-need part-time students, students with disabilities, and women in doctoral studies.

The Immigration Holds Agreement represents reimbursement by the federal government for the cost of detaining people awaiting an immigration examination, inquiry or removal.

The federal government provides support through the Targeted Initiative for Older Workers (“TIOW”) for employment assistance services and employability improvement activities, such as skills upgrading and work experience, to assist unemployed workers aged 55 to 64 with their return to work.

Funding is received from Canada Health Infoway to support efforts to increase the number of clinicians adopting and using an electronic medical record (“EMR”) system.

The Government of Canada provides funding to the Province for the Ontario Bridge Training Program. The funding supports programs in Ontario that help skilled newcomers get their license or certificate in their profession or trade, so that they can enter the labour market and find employment that matches their education and skills.

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Canada Health Infoway’s Interoperable Electronic Health Record (“iEHR”) investment program supports jurisdictional projects that will build interoperable EHR systems. Federal funding to Ontario is provided under the Interoperable Electronic Health Record/Health Information Access Layer (“iEHR/HIAL”) Agreement. These solutions will enable authorized health care providers to view and, in some cases, update a patient’s essential health information.

The federal government announced the creation of the Police Officers Recruitment Fund in the 2008 federal budget to support the efforts of provinces and territories in recruiting additional front-line police officers nationwide who can target local crimes and make communities safer. Funding was allocated to provinces and territories over five years, 2008-09 to 2012-13, on a per capita basis.

Other payments from the federal government included:

a) Annual subsidies of $8,824,387 under the Constitution Act, 1907; and

b) Interest of $83,479 on the Common School Fund.

	2014 $		2013 $
INCOME FROM GOVERNMENT ENTERPRISES
Ontario Lottery and Gaming Corporation		2,009,034,000		1,815,991,000
Liquor Control Board of Ontario		1,723,031,000		1,721,054,000
Ontario Power Generation Incorporated		809,000,000		136,000,000
Hydro One Incorporated		796,000,000		796,000,000
TOTAL INCOME FROM GOVERNMENT ENTERPRISES		5,337,065,000		4,469,045,000

Source: Ontario Ministry of Finance

Income from Government Enterprises represents amounts received by the Province from government business enterprises.

The Ontario Lottery and Gaming Corporation (“OLG”) conducts and manages lottery games resort casinos, casinos, and slots on behalf of the Province of Ontario. The Province consolidates the net income from OLG’s lotteries, commercial casinos, casinos and slots. The net income also includes 20% of gross gaming revenue from Caesars Windsor, Casino Niagara, Niagara Fallsview Casino Resort and Casino Rama as well as 20% of gross gaming revenue from its slots at the Great Blue Heron Charity Casino.

In 2013-14 the proceeds from OLG lotteries, casinos and slots were allocated by the Province of Ontario to the following Ministries and programs: $115 million to the Ontario Trillium Foundation for grants to charities and not-for-profit organisations, $39 million to the Ministry of Health and Long-Term Care to support problem gambling and related programs for prevention, treatment and research, $10 million to the Ministry of Tourism, Culture and Sport for direct financial support to Ontario high-performance athletes and enhanced coaching development, with the balance being applied to the Ministry of Health and Long-Term Care for the operation of hospitals.

In 2013-14 the proceeds from OLG commercial casinos were allocated by the Province of Ontario to general government priorities such as health care, education and public infrastructure.

Liquor Control Board of Ontario (“LCBO”) profits are generated from the sale of beer, wine, coolers, and spirits.

Hydro One Incorporated (“Hydro One”) and Ontario Power Generation Incorporated (“OPG”) were created as part of the restructuring of the former Ontario Hydro. Net income from these two corporations is consolidated in the Province’s finances. OPG revenue is derived primarily from the sale of electricity from its generating stations. Hydro One revenue is derived primarily from the transmission and distribution of electricity.

11

	2014 $		2013 $
OTHER REVENUE
Sales and Rentals		1,159,545,300		1,187,926,122
Fees, Licences and Permits:
Vehicle and Driver Registration Fees		1,248,496,871		1,125,000,811
Other fees and licences:
Local registrars		50,131,898		51,964,891
Personal Property Security Act		42,477,696		40,765,082
Drive Clean		28,244,163		27,784,039
Companies – Incorporations		21,630,744		22,086,798
Gaming Revenues		17,568,745		18,839,928
Other		598,486,402		607,054,999
Total Fees, Licences and Permits		2,007,036,519		1,893,496,548
Royalties:
Gross Revenue Charge – Water Rental Component		118,704,628		114,215,043
Crown Charges – Forestry		33,016,382		27,566,017
Teranet – Polaris Royalties		33,000,000		33,000,000
Other		57,663,758		50,994,057
Total Royalties		242,384,768		225,775,117
Recovery of Prior Years’ Expenditures		788,471,658		677,855,242
Reimbursement of Expenditures		961,984,924		932,365,323
Fines and Penalties		59,516,241
Miscellaneous:
Power Supply Contract Recoveries		1,296,000,000
Electricity Debt Retirement Charge		954,000,000
Net Reduction of Power Purchase Contracts		243,000,000
Independent Electricity System Operator Revenue		159,573,988
Other		460,066,181
Total Miscellaneous		3,112,640,169
TOTAL OTHER REVENUE		8,331,579,579

Source: Ontario Ministry of Finance

12

Sales and Rentals includes proceeds from the disposal of real property, supplies and equipment, rental of real property, leasing of Crown land and sales of goods and services provided by Provincial institutions.

Vehicle and Driver Registration fees include vehicle registration, carrier, and driver fees. Vehicle registration fees are for the authorization to operate a motor vehicle on a public road. For commercial vehicles the latest fee ranges from $174 to $4,330. The latest fees for passenger vehicles and light commercial vehicles weighing 3,000 kilograms or less used for personal purposes are $90 per year in Southern Ontario and $45 per year in Northern Ontario. Fees for motorcycles and mopeds are $42 and $12 per year respectively in Southern Ontario and $21 and $12 per year respectively in Northern Ontario. Driver fees consist primarily of driver license renewals.

The registrar’s fees consist of fees collected by the Ontario Court (General Division) in estates matters as set by O.Reg. 393/90 made under the Administration of Justice Act and the issuing, signing and filing fees for court related documents in civil matters.

Personal Property registration service fees are remittances for the registration and searches of personal property pledged as collateral to secure a loan. The fees are collected at the time of registration or search.

The modernized Drive Clean program was implemented effective January 1, 2013. Fees for the program are chargeable to the public for vehicle emissions testing, known as a “Drive Clean Emissions test.

Companies’ service fees are remittances for registration, searches and certificates pertaining to incorporations, limited partnerships and business names. The fees are collected at the time of registration or search.

Gaming-related fees collected by the Alcohol and Gaming Commission of Ontario include fees for registering commercial suppliers and gaming employees of charitable gaming events, casinos, charity casinos and slot machine facilities. Also included are fees for issuing licences to conduct and manage lottery schemes such as raffles.

Effective January 1, 2001, persons who by virtue of an agreement, lease or other writing are entitled to occupy public lands are required to pay a water rental charge calculated at a rate of 9.5% on gross revenues from the annual generation from hydro-electric-generating stations. This is the Gross Revenue Charge - Water Rental component.

Crown Charges – Timber royalties are remittances for the harvesting of Crown timber on Crown land or when timber rights are reserved to the Crown on patent land. Crown charges are typically charged on a per cubic metre basis related to the tree species, end products produced and harvest volume. A base price per cubic metre, adjusted annually, is established as a minimum price. The minimum price for most harvested timber during 2013-2014 was set at zero (bioproducts only), $4.32, or $0.59 per cubic metre depending on the tree species and commodity group. The $0.59 per cubic metre reflects the rate for several underutilized species and the economic volatility in the forest industry. A residual value price, based on a percentage of the difference between the cost of manufacturing and the selling price of the forest product, is also assessed. This component based on commodity market prices is adjusted monthly and varied from $0.00 to $20.20 per cubic metre.

Beginning in 2006, funds for the Forest Resource Inventory (“FRI”) have been collected through the stumpage system. In 2013-2014 the FRI rate was set at either $2.50 or $0.59, depending on species group and end-use, and set aside in the Forestry Futures Trust fund account for FRI expenses until a $10 million balance in the FRI account was achieved. After reaching the $10 million level, the FRI charge is set to zero, which occurred for this fiscal year in October 2013. The FRI collection results in no net effect to the forest industry with respect to stumpage charges, as the minimum price is reduced an equivalent amount to FRI charges, while FRI charges are being collected.

13

Teranet – Polaris Royalties - The Province completed the sale of its 50% ownership in Teranet in 2003-04. As part of this transaction, the Province agreed to suspend royalties from Teranet for a period of 13.67 years to March 31, 2017 in exchange for a lump sum payment of $205 million. The $205 million represents deferred royalties to be earned by the Province in future years and have been recognized in the Province’s accounts as deferred revenue. The deferred revenue is amortized to revenue over the life of the royalty suspension agreement. The annual amortization is $15 million throughout 2016-17.

In 2010-11 the Province negotiated an extension to the original Teranet agreement, resulting in a 50 year extension beyond the original amortization schedule. $1 billion in cash was received in 2010-11, and this amount represents deferred royalties to be amortized over a 56 year period from fiscal 2011-12 to 2066-67. The annual amortization for the extension is $18 million, for a combined total of $33 million per year for the years 2011-12 through 2016-17.

Recovery of Prior Years’ Expenditures represents monies recovered subsequent to the fiscal year-end in which the related expenditures were made. These receipts represent amounts, which, except for the timing of the recovery, would have been classified as expenditure refunds.

Reimbursements of expenditures are repayments of expenses incurred by the government under formal agreement, understanding or arrangement that the expenses will be recovered in whole or in part.

Fines and Penalties are remittances for infractions of laws, regulations and rules.

Revenues under “Power Supply Contract Recoveries” arise from the reselling of power and recovery from electricity consumers of the cost of power purchased from and payments made to electricity generators under power purchase contracts and the cost of other supply agreements with the Ontario Electricity Financial Corporation (“OEFC”), the legal continuation of the former Ontario Hydro.

Power supply contracts were entered into by the former Ontario Hydro with non-utility generators (NUGs) located in Ontario. As the legal continuation of Ontario Hydro, as of April 1, 1999, the OEFC is the counterparty to these contracts. The contracts provide for the purchase of power at prices that were expected to be in excess of market prices. Accordingly, a power purchase contract liability was recorded. Under legislated reforms to the electricity market, OEFC began receiving actual contract prices for power from ratepayers, effective January 1, 2005, and no longer incurs losses on these power purchase contracts. At that time, the Ministry of Finance estimated that the bulk of the liability would be eliminated over 12 years, as existing electricity contracts expire. As a result OEFC is amortizing the bulk of the liability to revenue over that period. In addition, effective January 1, 2009, OEFC entered into a support contract with Ontario Power Generation (OPG) whereby OPG agreed to maintain the reliability and availability of Lambton and Nanticoke coal-fired stations following implementation of a greenhouse gas emissions-reduction strategy up to the end of December 31, 2014. Under the contract, OEFC agreed to ensure OPG would recover the actual costs of operating the stations after implementing this strategy. Any costs to OEFC under this agreement are fully recovered from ratepayers. As at December 31, 2013 OEFC triggered an early termination clause in the contract to reflect the advanced closure of these plants by one year to the end of 2013. OPG is allowed to recover actual costs that cannot reasonably be avoided or mitigated during the period from the early shut down date until December 31, 2014 consistent with the original end date of the contract.

The Electricity Debt Retirement Charge (“DRC”) is paid by electricity consumers based on consumption of electricity. The Electricity Act, 1998 allows for the DRC to be in place until the residual stranded debt is retired. Residual stranded debt originated from the restructuring of Ontario Hydro. On April 23, 2014, the government announced that it intends to remove the DRC from residential users’ electricity bills, after December 31, 2015.

The Reduction of Power Purchase Contracts represents the effective elimination over time of the power purchase contract liability. The amount of change reflects the deduction for estimated in-year losses used to calculate the liability prior to the legislated reforms to the electricity market that effectively eliminated over time the power purchase liability.

The Independent Electricity System Operator (“IESO”) is a corporation without share capital licensed by the Ontario Energy Board. Created as part of the restructuring of Ontario Hydro, the IESO directs the operation and maintains the reliability of the Province’s power system. The IESO balances demand for electricity against available supply through the wholesale market and directs the flow of electricity across the transmission system. IESO’s revenue is derived primarily from fees approved by the Ontario Energy Board for each megawatt of electricity withdrawn from the IESO-controlled grid. Effective January 1, 2015, the IESO and Ontario Power Authority (“OPA”) will merge, with the newly amalgamated agency to be called the Independent Electricity System Operator (“IESO”). The OPA was established in 2004, and is responsible for coordinating province-wide conservation efforts, planning the electricity system for the long-term and contracting for electricity resources.

	2014		2013
TOTAL REVENUES	$	115,911,272,809	$	113,369,189,083

14

PUBLIC DEBT

Publicly Held Debt Summary

Publicly held debt is debt issued to the general public. As at March 31, 2014, the total publicly held debt issued was $282,835 million, $215,004 million of which was issued in Canadian dollars (includes $12,297 million of treasury bills), $54,282 million in U.S. dollars (includes $8,657 million in U.S. commercial paper), $6,795 million in euros, $3,029 million in Swiss francs and $3,725 million in other currencies.

From April 1, 2014 through December 19, 2014, the Province announced public offerings of bonds and notes totaling approximately $27.0 billion of which $25.6 billion were for provincial purposes and $1.5 billion was debt incurred for the OEFC. The tables below provide a summary of the publicly held debt issued by the Province from April 1, 2014 through December 19, 2014 for provincial purposes.

15

Debt Issuances Since 2013-14 Fiscal Year End

(from April 1, 2014 to December 19, 2014)

DEBT ISSUED BY THE PROVINCE FOR PROVINCIAL PURPOSES

Series	Issue (Settlement) Date		Maturity Date		Coupon (%+bp)		Funds		Principal (in millions)		References
DMTN223		April 2, 2014		June 2, 2024		3.50		Canadian$		750.0		(2)(4)
DMTN223		May 12, 2014		June 2, 2024		3.50		Canadian$		400.0		(2)(4)
G66		May 16, 2014		May 16, 2024		3.20		US$		1,250.0		(2)(9)
DMTN220		May 20, 2014		June 2, 2045		3.45		Canadian$		500.0		(2)(5)
EMTN110		May 21, 2014		May 21, 2024		1.875		EUR		1,750.0		(3)(10)
DMTN223		May 27, 2014		June 2, 2024		3.50		Canadian$		650.0		(2)(4)
DMTN220		May 30, 2014		June 2, 2045		3.45		Canadian$		600.0		(2)(5)
DMTN225		June 5, 2014		September 8, 2019		2.10		Canadian$		1,150.0		(2)(6)
DMTN223		June 9, 2014		June 2, 2024		3.50		Canadian$		750.0		(2)(4)
DMTN220		June 11, 2014		June 2, 2045		3.45		Canadian$		1,000.0		(2)(5)
OSB2014		June 21, 2014		Various		Various		Canadian$		549.0		(13)
DMTN223		July 2, 2014		June 2, 2024		3.50		Canadian$		650.0		(2)(4)
DMTN220		July 28, 2014		June 2, 2045		3.45		Canadian$		600.0		(2)(5)
DMTN223		August 6, 2014		June 2, 2024		3.50		Canadian$		650.0		(2)(4)
ADI3		August 22, 2014		August 22, 2024		4.25		AUD		225.0		(2)(11)
DMTN226		August 26, 2014		August 26, 2019		3 CBA*+9.0bp		Canadian$		1,921.0		(1)(7)
DMTN223		September 2, 2014		June 2, 2024		3.50		Canadian$		900.0		(2)(4)
G67		September 11, 2014		September 10, 2021		2.50		US$		2,000.0		(2)(12)
DMTN220		September 12, 2014		June 2, 2045		3.45		Canadian$		600.0		(2)(5)
DMTN223		September 29, 2014		June 2, 2024		3.50		Canadian$		550.0		(2)(4)
G68		October 9, 2014		October 9, 2018		1.75		Canadian$		500.0		(2)(8)
DMTN220		October 14, 2014		June 2, 2045		3.45		Canadian$		800.0		(2)(5)
DMTN220		October 24, 2014		June 2, 2045		3.45		Canadian$		800.0		(2)(5)
DMTN223		October 28, 2014		June 2, 2024		3.50		Canadian$		650.0		(2)(4)
DMTN225		October 31, 2014		September 8, 2019		2.10		Canadian$		1,250.0		(2)(6)
ADI3		November 3, 2014		August 22, 2024		4.25		AUD		75.0		(2)(11)
DMTN223		November 12, 2014		June 2, 2024		3.50		Canadian$		700.0		(2)(4)
DMTN220		November 12, 2014		June 2, 2045		3.45		Canadian$		750.0		(2)(5)
DMTN220		November 24, 2014		June 2, 2045		3.45		Canadian$		600.0		(2)(5)
DMTN223		November 26, 2014		June 2, 2024		3.50		Canadian$		600.0		(2)(4)
ADI3		December 5, 2014		August 22, 2024		4.25		AUD		50.0		(2)(11)
DMTN220		December 8, 2014		June 2, 2045		3.45		Canadian$		600.0		(2)(5)
DMTN218		December 12, 2014		September 8, 2018		2.10		Canadian$		750.0		(2)(14)

Province:

* 3 CBA is 3-month Canadian Bankers’ Acceptances Rate

(1) Interest is paid quarterly.

(2) Interest is paid semi-annually.

(3) Interest is paid annually.

16

(4) DMTN223: During the fiscal year 2014-15, the Series DMTN223 was re-opened, bringing the total issue size to $11,550 million, including $1,550 million for OEFC.

(5) DMTN220: During the fiscal year 2014-15, the Series DMTN220 was re-opened, bringing the total issue size to $16,050 million, including $525 million for OEFC.

(6) DMTN225: During the fiscal year 2014-15, the Series DMTN225 was issued for a total of $2,500 million, including $100 million for OEFC.

(7) DMTN226: During the fiscal year 2014-15, the Series DMTN226 was issued for a total of $1,921 million.

(8) G68: During the fiscal year 2014-15, the Series G68 was issued for a total of $500 million.

(9) G66: The Province entered into currency exchange agreements that effectively converted 1,250 million of these US dollar obligations to Canadian dollar obligations at an exchange rate of 1.10345.

(10) EMTN110: The Province entered into currency exchange agreements that effectively converted 1,750 million of these EURO obligations to Canadian dollar obligations at an exchange rate of 1.54340.

(11) ADI3: The Province entered into currency exchange agreements that effectively converted 350 million of these Australian dollar obligations to Canadian dollar obligations at an exchange rate of 0.99993.

(12) G67: The Province entered into currency exchange agreements that effectively converted 2,000 million of these US dollar obligations to Canadian dollar obligations at an exchange rate of 1.10046.

(13) Ontario Savings Bonds Series 2014 were available in various types, maturities and interest rates. This was the twentieth issue of provincial savings bonds. The total proceeds from this issue were $549 million.

(14) DMTN218: During the fiscal year 2014-15, the Series DMTN218 was re-opened, bringing the total issue size to $7,250 million, including $372 million for OEFC.

17

DEBT ISSUED BY THE PROVINCE FOR ONTARIO ELECTRICITY FINANCIAL CORPORATION (“OEFC”)

Series

Date of Issue

Date of Maturity

Interest Rate %

Funds

Principal

References

(in millions)

DMTN223

May 12, 2014

June 2, 2024

3.50

Canadian$

350.0

(1)(2)

DMTN220

May 20, 2014

June 2, 2045

3.45

Canadian$

100.0

(1)(3)

DMTN223

May 27, 2014

June 2, 2024

3.50

Canadian$

100.0

(1)(2)

DMTN225

June 5, 2014

September 8, 2019

2.10

Canadian$

100.0

(1)(4)

DMTN223

July 2, 2014

June 2, 2024

3.50

Canadian$

100.0

(1)(2)

DMTN223

August 6, 2014

June 2, 2024

3.50

Canadian$

100.0

(1)(2)

DMTN223

September 2, 2014

June 2, 2024

3.50

Canadian$

100.0

(1)(2)

DMTN223

September 29, 2014

June 2, 2024

3.50

Canadian$

200.0

(1)(2)

DMTN223

October 28, 2014

June 2, 2024

3.50

Canadian$

100.0

(1)(2)

DMTN223

November 12, 2014

June 2, 2024

3.50

Canadian$

50.0

(1)(2)

DMTN223

November 26, 2014

June 2, 2024

3.50

Canadian$

150.0

(1)(2)

OEFC:

(1) Interest is paid semi-annually.

(2) DMTN223: During the fiscal year 2014-15, the Series DMTN223 was re-opened, bringing the total issue size to $11,550 million, including $1,550 million for OEFC.

(3) DMTN220: During the fiscal year 2014-15, the Series DMTN220 was re-opened, bringing the total issue size to $16,050 million, including $525 million for OEFC.

(4) DMTN225: During the fiscal year 2014-15, the Series DMTN225 was issued for a total of $2,500 million, including $100 million for OEFC.

18

Outstanding Debt as at March 31, 2014 Fiscal Year End

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
DEBT ISSUED FOR PROVINCIAL PURPOSES
NON-PUBLIC DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
To Canada Pension Plan Investment Board:
Year ending March 31
2016		2008		CPP		4.68		42,300,000
2017		2008		CPP		4.08 to 4.88		91,896,000
2019		1999		CPP		5.81 to 5.84		45,270,000
2020		2000		CPP		5.50 to 6.91		869,889,000
2021		2001		CPP		6.33 to 6.67		609,834,000
2022		2002		CPP		6.22 to 6.47		330,994,000
2024		2004		CPP		5.26 to 5.97		688,007,000
2025		2005		CPP		5.15 to 5.79		1,133,182,000
2026		2006		CPP		4.67 to 5.19		574,612,000
2031		2009		CPP		4.79		43,880,000
2032		2009		CPP		4.75		52,000,000
2036		2006-2014		CPP		3.41 to 4.73		725,953,000
2037		2007		CPP		4.50 to 4.76		351,269,000
2038		2008		CPP		4.63 to 4.68		241,756,000
2039		2009		CPP		4.70 to 5.48		493,439,000
2040		2010-2012		CPP		4.36 to 5.03		1,179,395,000
2041		2011		CPP		4.20 to 4.86		799,613,000
2042		2012		CPP		4.23 to 4.56		954,179,000
2043		2013		CPP		3.36 to 3.62		775,272,000
								10,002,740,000		(3)
To Public Service Pension Fund:
Year ending March 31 2015		1997		OPB		11.19		225,469,353
								225,469,353		(4)
To Public Service Employees’ Union Pension Fund:
Year ending March 31 2015		1997		OPPT		11.19		107,110,257
								107,110,257		(4)

19

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
To Ontario Immigrant Investor Corporation:
Year ending March 31
2015		2010		OIIC 118-129		Zero		273,768,875
2016		2011		OIIC 130-138		Zero		230,062,447
								503,831,322
Less: Unamortized Discount								12,222,742
								491,608,580
2017		2012-2013		OIIC 139-143		1.917 to 2.501		19,823,105
2018		2013		OIIC 144-145		2.04 to 2.21		14,277,402
2019		2014		OIIC 146-156		2.02 to 2.53		57,095,610
								91,196,117
Total Ontario Immigrant Investor Corporation								582,804,697		(5)
To Canada Mortgage and Housing Corporation:
Year ending March 31
2000-2015		1975		CMHC		7.50 to 10.375		740,120
2000-2016		1976		CMHC		5.375 to 10.75		3,350,862
2000-2017		1977		CMHC		7.625 to 10.75		3,562,075
2000-2018		1977-1978		CMHC		7.625 to 13.00		12,137,601
2000-2019		1977-1980		CMHC		7.625 to 15.25		16,278,847
2000-2020		1977-1980		CMHC		7.625 to 15.75		28,886,989
2000-2021		1979-1981		CMHC		9.50 to 15.75		15,382,958
2000-2022		1982		CMHC		9.75 to 15.75		680,494
								81,019,946		(6)
TOTAL NON-PUBLIC DEBT								10,999,144,253

20

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PUBLICLY HELD DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
September 8, 2014		June 30, 2009		DMTN197		3.25		3,500,000,000
October 28, 2014		November 3, 2009		DMTN198		3M CBA + 0.25		1,965,000,000		(7)
November 19, 2014		January 22, 2010		DMTN199		3M CBA + 0.14		115,000,000		(7)
December 2, 2014		December 2, 2004		MW		6.80		11,450,000		(7)
March 8, 2015		March 9, 2005		DMTN135		4.50		2,500,000,000
May 12, 2015		May 12, 2010		DMTN203		3M CBA + 0.18		40,000,000		(7)
September 1, 2015		September 1, 2000		DMTN1		6.25		34,000,000		(7)
September 8, 2015		March 9, 2010		DMTN201		3.15		2,150,000,000
October 5, 2015		October 5, 2010		DMTN205		3M CBA + 0.23		1,121,000,000		(7)
March 8, 2016		February 14, 2006		DMTN163		4.40		1,250,000,000
April 12, 2016		April 12, 2011		DMTN209		3M CBA + 0.125		1,090,000,000		(7)
June 2, 2016		June 29, 2005		DMTN149		Step-up		200,000,000		(8)
June 24, 2016		June 24, 2009		DMTN196		3M CBA + 0.62		275,000,000		(7)
June 27, 2016		May 27, 2011		DMTN210		3M CBA + 0.18		1,000,000,000		(7)
September 8, 2016		February 16, 2011		DMTN208		3.20		807,000,000
September 14, 2016		July 14, 2011		DMTN211		3M CBA + 0.15		1,050,000,000		(7)
December 2, 2016		December 7, 2004		DMTN132		4.875		200,000,000
December 2, 2016		August 22, 2005		DMTN152		Step-up		300,000,000		(9)
March 8, 2017		January 25, 2007		DMTN173		4.30		3,100,000,000		(7)
September 8, 2017		January 20, 2012		DMTN213		1.90		6,350,000,000
September 22, 2017		February 22, 2013		DMTN219		3M CBA + 0.19		1,119,500,000		(7)
November 23, 2017		November 23, 2012		DMTN217		3M CBA + 0.25		750,000,000		(7)
March 8, 2018		March 10, 2008		DMTN183		4.20		1,560,000,000
May 30, 2018		May 30, 2013		DMTN221		3M CBA + 0.12		775,000,000		(7)

21

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
June 2, 2018		August 28, 2003		DMTN79		5.50		605,000,000		(7)
August 28, 2018		August 28, 2013		DMTN222		3M CBA + 0.16		600,800,000		(7)
September 8, 2018		January 15, 2013		DMTN218		2.10		6,128,000,000
December 3, 2018		December 3, 2013		DMTN224		3M CBA + 0.15		937,000,000		(7)
June 2, 2019		April 19, 2004		DMTN105		5.35		100,000,000		(7)
June 2, 2019		April 17, 2009		DMTN195		4.40		7,050,000,000		(7)
June 2, 2020		February 22, 2005		DMTN140		4.85		562,000,000
June 2, 2020		February 23, 2010		DMTN200		4.20		8,875,000,000
September 4, 2020		September 4, 1998		LY		6.30		15,000,000
June 2, 2021		December 27, 2007		DMTN180		4.50		75,000,000		(7)
June 2, 2021		January 12, 2011		DMTN207		4.00		8,915,000,000
June 2, 2022		November 8, 2011		DMTN212		3.15		10,271,700,000
July 13, 2022		July 13, 1992		HC		9.50		1,590,438,000
June 2, 2023		November 6, 2012		DMTN215		2.85		8,207,500,000
September 8, 2023		September 8, 1993		HP		8.10		940,570,000
September 8, 2023		July 31, 2007		DMTN177		4.95		75,000,000
June 2, 2024		November 25, 2013		DMTN223		3.50		3,500,000,000
June 2, 2025		December 20, 1994		JE		9.50		460,000,000
December 2, 2025		October 5, 1995		JQ		8.50		1,000,000,000
February 6, 2026		February 6, 1996		JY		8.00		12,500,000
June 2, 2026		December 21, 1995		JU		8.00		1,000,000,000
December 2, 2026		February 13, 1997		KR		8.00		386,500,000
December 2, 2026		January 20, 1999		MH		7.00		124,584,000		(10)
February 3, 2027		August 5, 1997		KN		7.50		58,220,000
February 3, 2027		August 5, 1997		KT		6.95		8,726,000
February 3, 2027		April 1, 1998		KY		7.50		11,549,000
February 3, 2027		December 4,1998		LA		7.50		5,507,000
February 4, 2027		February 4, 1998		KQ		7.375		990,000
June 2, 2027		October 17, 1996		KJ		7.60		4,734,700,000
August 25, 2028		February 25, 1998		LQ		6.25		2,020,000
March 8, 2029		January 8, 1998		LK		6.50		4,727,000,000
January 13, 2031		September 8, 1995		JN		9.50		125,000,000
June 2, 2031		March 27, 2000		NF		6.20		3,000,000,000
June 2, 2031		November 25, 2010		DMTN206		5.20		133,300,000
March 8, 2033		February 17, 2003		DMTN61		5.85		4,674,610,000
March 8, 2033		April 29, 2004		DMTN110		5.85		188,000,000
March 8, 2033		July 23, 2004		DMTN116		5.85		100,000,000		(11)
July 13, 2034		September 21, 2005		DMTN157		5.00		47,500,000		(12)
November 3, 2034		November 3, 1994		HY		9.75		248,800,000

22

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding			Reference
					%		$
January 10, 1995 to January 10, 2035		November 30, 1994		HZ		9.4688		2,315,904			(13)
January 10, 1995 to January 10, 2035		November 30, 1994		JA		9.4688		3,880,974			(13)
January 10, 1995 to January 10, 2035		November 30, 1994		JB		9.4688		8,482,324			(13)
January 10, 1995 to January 10, 2035		November 30, 1994		JC		9.4688		4,764,354			(13)
January 10, 1995 to January 10, 2035		November 30, 1994		JD		9.4688		3,171,134			(13)
January 12, 2035		January 12, 2007		JG		9.50		110,950,000
February 8, 2035		February 8, 1995		JJ		9.875		32,000,000
June 2, 2035		August 25, 2004		DMTN119		5.60		6,882,300,000
June 2, 2035		January 12, 2005		DMTN133		Step-up		150,000,000			(14)
June 20, 2036		June 28, 1996		KC		8.25		98,984,000
December 1, 2036		March 8, 2006		DMTN158		2.00 Real Return		2,426,126.721			(15)
June 2, 2037		February 22, 2006		DMTN164		4.70		8,700,000,000
December 2, 2037		February 1, 2005		DMTN138		5.20		100,000,000
June 2, 2038		July 28, 2004		DMTN117		10.00		75,000,000			(16)
June 20, 2038		September 16, 1996		KG		8.10		120,000,000
July 13, 2038		July 29, 1998		LS		5.75		50,000,000
August 25, 2038		August 17, 1998		LT		6.00		86,500,000
June 2, 2039		January 15, 2008		DMTN182		4.60		9,600,000,000
July 13, 2039		February 2, 1999		MK		5.65		232,200,000
December 2, 2039		February 25, 2000		NE		5.70	��	1,489,000,000
July 13, 2040		April 18, 2002		DMTN44		6.20		100,000,000
June 2, 2041		June 15, 2010		DMTN204		4.65		11,368,000,000
December 2, 2041		August 15, 2001		DMTN10		6.20		340,000,000
March 8, 2042		December 4, 2001		DMTN29		6.00		41,000,000
June 2, 2042		January 18, 2002		DMTN33		6.00		240,000,000
June 2, 2043		February 24, 2003		DMTN62		5.75		75,000,000
June 2, 2043		January 31, 2012		DMTN214		3.50		11,000,000,000
June 2, 2044		September 13, 2006		DMTN169		4.60		27,000,000
January 10, 2045		May 25, 1995		JL		8.435		35,531,176			(17)
March 1, 2045		March 1, 1995		JK		9.50		150,000,000
June 2, 2045		August 31, 2005		DMTN153		4.50		175,000,000
June 2, 2045		May 10, 2013		DMTN220		3.45		8,675,000,000
June 2, 2046		May 24, 2006		DMTN166		4.85		154,700,000
June 2, 2047		February 28, 2007		DMTN176		4.50		158,000,000
June 2, 2048		May 6, 2008		DMTN184		4.70		50,000,000
June 2, 2054		July 22, 2008		DMTN185		4.60		40,000,000
June 2, 2062		November 8, 2012		DMTN216		3.25		475,000,000
								174,076,370,587
CPI adjustment to Real Return Swap								(41,242,614	)		(15)
								174,035,127,973

23

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
ONTARIO SAVINGS BONDS
June 21, 2014		June 21, 2007		Annual		Variable		16,804,900
June 21, 2014		June 21, 2007		Compound		Variable		23,454,500
June 21, 2014		June 21, 2009		Annual		Step-up		444,091,500
June 21, 2014		June 21, 2009		Compound		Step-up		250,803,100
June 21, 2014		June 21, 2009		Annual		3.00		29,544,400
June 21, 2014		June 21, 2009		Compound		3.00		29,080,900
June 21, 2014		June 21, 2011		Annual		Variable		4,037,100
June 21, 2014		June 21, 2011		Compound		Variable		4,394,500
June 21, 2014		June 21, 2011		Annual		2.15		26,065,200
June 21, 2014		June 21, 2011		Compound		2.15		22,438,100
June 21, 2015		June 21, 2008		Annual		Variable		12,770,700
June 21, 2015		June 21, 2008		Compound		Variable		13,690,600
June 21, 2015		June 21, 2010		Annual		Step-up		344,569,900
June 21, 2015		June 21, 2010		Compound		Step-up		186,947,900
June 21, 2015		June 21, 2012		Annual		Variable		1,962,300
June 21, 2015		June 21, 2012		Compound		Variable		3,996,600
June 21, 2015		June 21, 2012		Annual		1.50		6,899,900
June 21, 2015		June 21, 2012		Compound		1.50		5,544,900
June 21, 2016		June 21, 2009		Annual		Variable		6,206,900
June 21, 2016		June 21, 2009		Compound		Variable		7,153,000
June 21, 2016		June 21, 2011		Annual		Step-up		210,672,600
June 21, 2016		June 21, 2011		Compound		Step-up		102,780,100
June 21, 2016		June 21, 2013		Annual		Variable		8,479,400
June 21, 2016		June 21, 2013		Compound		Variable		8,317,200
June 21, 2016		June 21, 2013		Annual		1.50		5,602,400
June 21, 2016		June 21, 2013		Compound		1.50		5,735,600
June 21, 2017		June 21, 2010		Annual		3.75		9,761,600
June 21, 2017		June 21, 2010		Compound		3.75		8,748,100
June 21, 2017		June 21, 2012		Annual		Step-up		330,362,700
June 21, 2017		June 21, 2012		Compound		Step-up		245,131,900
June 21, 2018		June 21, 2011		Annual		3.20		6,669,100
June 21, 2018		June 21, 2011		Compound		3.20		6,381,300
June 21, 2018		June 21, 2013		Annual		Step-up		210,167,600
June 21, 2018		June 21, 2013		Compound		Step-up		98,905,000
June 21, 2020		June 21, 2010		Annual		4.25		42,676,100
June 21, 2020		June 21, 2010		Compound		4.25		30,700,200
June 21, 2021		June 21, 2011		Annual		3.80		11,890,400
June 21, 2021		June 21, 2011		Compound		3.80		13,281,700
June 21, 2022		June 21, 2012		Annual		2.80		4,034,600
June 21, 2022		June 21, 2012		Compound		2.80		5,372,100
June 21, 2023		June 21, 2013		Annual		3.10		10,855,800
June 21, 2023		June 21, 2013		Compound		3.10		7,173,700
Active Series								2,824,156,100		(18)
Matured Series								55,962,700		(19)
TOTAL ONTARIO SAVINGS BONDS								2,880,118,800
TOTAL PAYABLE IN CANADA IN CANADIAN DOLLARS								176,915,246,773

24

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN GLOBAL MARKET IN CANADIAN DOLLARS
February 7, 2024		February 7, 1994		HS		7.50		1,106,700,000
TOTAL PAYABLE IN GLOBAL MARKET IN CANADIAN DOLLARS								1,106,700,000
PAYABLE IN EUROPE IN CANADIAN DOLLARS
October 21, 2015		October 21, 2005		EMTN73		3M CBA+0.03		250,000,000		(7)
July 13, 2034		July 13, 1994		EMTN5		9.40		300,000,000
TOTAL PAYABLE IN EUROPE IN CANADIAN DOLLARS								550,000,000
Foreign Currency Debt										(20)
PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS
September 29, 2020		September 29, 2010		AUD2		6.25		500,000,000
TOTAL PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS								500,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.01231								506,154,720		(20a)
PAYABLE IN EUROPE IN EURO
April 23, 2019		April 23, 2009		EMTN97		4.75		1,500,000,000
December 3, 2019		December 3, 2009		EMTN100		4.00		1,750,000,000
September 28, 2020		September 28, 2010		EMTN107		3.00		1,250,000,000
TOTAL PAYABLE IN EUROPE IN EURO								4,500,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.42435								6,409,595,209		(20b)
PAYABLE IN GLOBAL MARKET IN EURO
January 9, 2018		January 9, 2009		PU		3M Euribor +1.39		120,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN EURO								120,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.7180								206,160,000		(20c)

25

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN EUROPE IN HONG KONG DOLLARS
April 11, 2014		April 20, 2009		EMTN96		2.94		300,000,000
June 7, 2015		June 7, 2010		EMTN103		3M Hibor +0.04		1,550,000,000
TOTAL PAYABLE IN EUROPE IN HONG KONG DOLLARS								1,850,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.13632								252,200,923		(20a)
PAYABLE IN JAPAN IN JAPANESE YEN
July 28, 2014		July 28, 2003		YL015		0.76		5,000,000,000
August 8, 2018		August 8, 2008		YL016		1.675		8,000,000,000
TOTAL PAYABLE IN JAPAN IN JAPANESE YEN								13,000,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.009965								129,548,277		(20d)
PAYABLE IN EUROPE IN JAPANESE YEN
June 8, 2015		June 7, 2010		EMTN104		0.93		95,700,000,000
June 8, 2020		June 7, 2010		EMTN105		1.65		36,900,000,000
TOTAL PAYABLE IN EUROPE IN JAPANESE YEN								132,600,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.010751								1,425,603,827		(20d)
PAYABLE IN GLOBAL MARKET IN NEW ZEALAND DOLLARS
June 16, 2015		June 16, 2005		PG		6.25		718,450,000
TOTAL PAYABLE IN GLOBAL MARKET IN NEW ZEALAND DOLLARS								718,450,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.89505								643,050,875		(20a)
PAYABLE IN EUROPE IN NORWEGIAN KRONER
June 11, 2015		June 11, 2010		EMTN106		3.25		1,350,000,000
January 20, 2016		December 23, 2010		EMTN108		3.375		750,000,000
TOTAL PAYABLE IN EUROPE IN NORWEGIAN KRONER								2,100,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.16936								355,661,864		(20a)

26

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN EUROPE IN SOUTH AFRICAN RAND
August 17, 2015		August 17, 2005		EMTN71		7.75		300,000,000
September 20, 2016		September 20, 2006		EMTN78		9.00		60,000,000
TOTAL PAYABLE IN EUROPE IN SOUTH AFRICAN RAND								360,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.18808								67,708,404		(20a)
PAYABLE IN EUROPE IN SWISS FRANCS
September 8, 2014		September 8, 2005		PH		2.00		200,000,000
December 2, 2014		December 2, 2008		EMTN88		2.645		50,000,000
December 4, 2014		December 4, 2009		EMTN98		1.625		400,000,000
June 29, 2015		June 29, 2005		PF		2.125		200,000,000
December 1, 2015		December 1, 2008		EMTN84		3.375		225,000,000
July 30, 2018		July 30, 2008		EMTN82		3.75		225,000,000
July 30, 2018		August 14, 2009		PY		2.525		100,000,000
December 14, 2018		August 14, 2009		PZ		2.59		100,000,000
April 29, 2019		April 29, 2009		EMTN95		3.375		225,000,000
December 4, 2019		December 4, 2009		EMTN99		2.50		275,000,000
May 7, 2020		May 7, 2010		EMTN101		2.375		400,000,000
TOTAL PAYABLE IN EUROPE IN SWISS FRANCS								2,400,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.09642								2,631,406,570		(20e)
PAYABLE IN CANADA IN U.S. DOLLARS
November 18, 2014		November 18, 2004		DMTN131		4.50		300,000,000
December 21, 2016		December 21, 2006		DMTN171		4.95		100,000,000
TOTAL PAYABLE IN CANADA IN U.S. DOLLARS								400,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.22113								488,450,000		(20f)
PAYABLE IN UNITED STATES IN U.S. DOLLARS
April 1, 2015		February 29, 2012		USMTN1		3M USD Libor+0.15		750,000,000
November 23, 2017		November 23, 2012		USMTN2		3M USD Libor+0.25		250,000,000
TOTAL PAYABLE IN THE UNITED STATES IN U.S. DOLLARS								1,000,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.08266								1,082,663,250		(20g)

27

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS
June 16, 2014		June 16, 2009		PX		4.10		4,000,000,000
February 3, 2015		February 3, 2005		PE		4.50		500,000,000
February 5, 2015		February 5, 2010		G47		2.95		3,000,000,000
May 26, 2015		May 24, 2012		G57		0.95		3,500,000,000
June 16, 2015		June 16, 2010		G50		2.70		2,500,000,000
August 13, 2015		February 7, 2013		G61		3M Libor+0.05		500,000,000
September 15, 2015		September 15, 2010		G51		1.875		1,250,000,000
January 19, 2016		January 18, 2006		PJ		4.75		950,000,000
April 27, 2016		April 27, 2006		PK		5.45		900,000,000
May 10, 2016		May 10, 2011		G54		2.30		3,000,000,000
July 22, 2016		July 23, 2013		G64		1.00		2,500,000,000
September 21, 2016		September 21, 2011		G56		1.60		2,000,000,000
November 28, 2016		November 28, 2006		PM		4.95		891,000,000
October 25, 2017		October 25, 2012		G60		1.10		2,250,000,000
December 15, 2017		December 15, 2010		G52		3.15		1,250,000,000
February 14, 2018		February 14, 2013		G62		1.20		705,000,000
July 16, 2018		July 14, 2011		G55		3.00		1,000,000,000
September 27, 2018		September 27, 2013		G63		2.00		1,750,000,000
January 30, 2019		January 30, 2014		G65		2.00		2,000,000,000
September 27, 2019		September 27, 2012		G59		1.65		1,250,000,000
October 7, 2019		October 7, 2009		G44		4.00		2,000,000,000
April 14, 2020		April 14, 2010		G48		4.40		2,000,000,000
June 29, 2022		June 29, 2012		G58		2.45		1,000,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS								40,696,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.05985								43,131,569,207		(20h)

28

Date of Maturity	Date of Issue		Series	Interest Rate		Outstanding			Reference
				%		$
TOTAL BONDS							235,901,719,899
UNAMORTIZED FOREIGN EXCHANGE GAINS/(LOSSES)							20,108,649
TOTAL BONDS NET OF UNAMORTIZED FOREIGN EXCHANGE GAIN/(LOSS)							235,921,828,548
TREASURY BILLS							11,594,426,000
U.S. COMMERCIAL PAPER (in U.S. Dollars)							7,833,000,000			(21)
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.10526							8,657,497,175
TOTAL PUBLICLY HELD DEBT							256,173,751,723
TOTAL NON-PUBLIC AND PUBLIC DEBT							267,172,895,976
SCHOOL BOARD TRUST DEBT
Year ending March 31 2037		2004			5.90		891,000,000
Less: Sinking Fund							(173,347,937	)
							717,652,063			(22)
TOTAL DEBT ISSUED FOR PROVINCIAL PURPOSES							267,890,548,039

29

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding			Reference
			%	$
CONSOLIDATION ADJUSTMENTS – OTHER GOVERNMENT ORGANIZATIONS
NON-PUBLIC DEBT ISSUED BY AGENCIES:
Ontario Mortgage and Housing Corporation					419,607,944
Ontario Immigrant Investor Corporation					1,139,227,694			(5)
PUBLIC DEBT ISSUED BY AGENCIES:
Infrastructure Ontario					1,603,745,374
Niagara Parks Commission					36,629,849
Ontario Northland Transportation Commission					17,045,292
ORNGE					288,730,974
Ottawa Convention Centre					2,109,653
ONTARIO SECURITIES HELD BY AGENCIES:
Bonds					(907,133,697	)
Treasury Bills					(878,574,984	)
TOTAL CONSOLIDATION ADJUSTMENTS					1,721,388,099			(23)
TOTAL PROVINCIAL PURPOSE DEBT AFTER CONSOLIDATION ADJUSTMENTS					269,611,936,138

30

Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
DEBT ISSUED FOR ONTARIO ELECTRICITY FINANCIAL CORPORATION (OEFC)
NON-PUBLIC DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
Canada Pension Plan Investment Board:
2021		2001		CPP		6.08		19,375,000
2022		2002		CPP		6.17 to 6.29		172,961,000
2023		2003		CPP		6.16		38,130,000
TOTAL NON-PUBLIC DEBT								230,466,000		(3)
PUBLICLY HELD DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
September 8, 2014		October 9, 2009		DMTN197		3.25		150,000,000
November 19, 2014		January 22, 2010		DMTN199		3M CBA + 0.14		135,000,000		(7)
March 8, 2015		January 24, 2005		DMTN135		4.50		500,000,000
September 8, 2015		December 10, 2010		DMTN201		3.15		100,000,000
October 5, 2015		November 26, 2010		DMTN205		3M CBA + 0.23		50,000,000		(7)
March 8, 2016		February 14, 2006		DMTN163		4.40		1,800,000,000
September 8, 2016		February 16, 2011		DMTN208		3.20		193,000,000
March 8, 2017		January 12, 2007		DMTN173		4.30		2,300,000,000
November 23, 2017		November 23, 2012		DMTN217		3M CBA + 0.25		205,000,000
March 8, 2018		March 10, 2008		DMTN183		4.20		1,440,000,000
June 2, 2018		June 6, 2005		DMTN79		5.50		110,000,000
September 8, 2018		July 22, 2013		DMTN218		2.10		372,000,000
June 2, 2019		April 27, 2009		DMTN195		4.40		800,000,000
June 2, 2020		February 22, 2005		DMTN140		4.85		29,000,000
June 2, 2020		April 22, 2010		DMTN200		4.20		675,000,000
June 2, 2021		April 15, 2011		DMTN207		4.00		85,000,000
June 2, 2022		May 3, 2012		DMTN212		3.15		478,300,000
June 2, 2023		November 6, 2012		DMTN215		2.85		2,642,500,000
September 8, 2023		November 29, 2004		HP		8.10		50,000,000
June 2, 2024		November 25, 2013		DMTN223		3.50		300,000,000
June 2, 2027		February 11, 2000		KJ		7.60		100,500,000
August 25, 2028		April 13, 1999		LQ		6.25		78,600,000
December 1, 2036		October 4, 2005		DMTN158		2.00 Real Return		803,866,000		(15)
June 2, 2037		September 1, 2006		DMTN164		4.70		400,000,000
June 2, 2039		July 10, 2009		DMTN182		4.60		100,000,000
June 2, 2041		March 9, 2011		DMTN204		4.65		282,000,000
June 2, 2043		May 15, 2012		DMTN214		3.50		200,000,000
June 2, 2045		October 1, 2013		DMTN220		3.45		425,000,000
TOTAL PAYABLE IN CANADA IN CANADIAN DOLLARS								14,804,766,000

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Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN EUROPE IN CANADIAN DOLLARS
July 8, 2014		July 8, 2004		EMTN63		3M CBA+0.07		500,000,000
February 17, 2015		February 17, 2005		EMTN69		4.50		200,000,000
TOTAL PAYABLE IN EUROPE IN CANADIAN DOLLARS								700,000,000
Foreign Currency Debt										(20)
PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS
November 30, 2016		November 30, 2006		AUD1		6.00		300,000,000
TOTAL PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS								300,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.87509								262,525,500		(20i)
PAYABLE IN GLOBAL MARKET IN EURO
October 9, 2017		January 9, 2009		PU		3M Euribor+1.39		105,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN EURO								105,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.70800								179,340,000		(20i)
PAYABLE IN EUROPE IN HONG KONG DOLLARS
December 29, 2015		December 29, 2008		EMTN94		3.30		515,000,000
TOTAL PAYABLE IN EUROPE IN HONG KONG DOLLARS								515,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $0.16034								82,572,774		(20i)
PAYABLE IN EUROPE IN SWISS FRANCS
May 27, 2016		May 27, 2008		EMTN80		3.375		200,000,000
July 30, 2018		December 29, 2008		EMTN82		3.75		125,000,000
TOTAL PAYABLE IN EUROPE IN SWISS FRANCS								325,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.22449								397,958,739		(20i)

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Date of Maturity	Date of Issue		Series		Interest Rate		Outstanding		Reference
					%		$
PAYABLE IN EUROPE IN U.S. DOLLARS
December 18, 2018		December 18, 2008		EMTN93		4.28		60,000,000
TOTAL PAYABLE IN EUROPE IN U.S. DOLLARS								60,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.22750								73,650,000		(20i)
PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS
February 3, 2015		February 3, 2005		PE		4.50		500,000,000
February 14, 2018		February 14, 2013		G62		1.20		295,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS								795,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.06654								847,900,000		(20i)
TOTAL BONDS								17,348,713,013
UNAMORTIZED FOREIGN EXCHANGE GAINS/(LOSS)								28,181,789
TOTAL BONDS NET OF UNAMORTIZED FOREIGN EXCHANGE GAIN/(LOSS)								17,376,894,802
TREASURY BILLS								1,581,221,000
TOTAL PUBLICLY HELD DEBT								18,958,115,802
TOTAL DEBT ISSUED BY THE PROVINCE FOR OEFC								19,188,581,802
DIRECT OEFC DEBT								6,957,619,000
TOTAL OEFC DEBT								26,146,200,802
TOTAL CONSOLIDATED DEBT								295,758,136,940
DEBT ISSUED FOR INVESTMENT PURPOSES*
ONTARIO POWER GENERATION INC								5,126,000,000
HYDRO ONE INC								3,759,000,000
TOTAL DEBT ISSUED FOR INVESTMENT PURPOSES								8,885,000,000

* Debt for Investment Purposes, as a result of a debt for equity swap between the Province and Ontario Power Generation Inc. and Hydro One Inc., is eliminated upon consolidation.

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References:

1. All debt issues are non-callable, except as stated in the notes below. Debt is payable at a fixed rate, or a floating rate with reference to a stated index, reset usually every three months (3M). These floating rate indices are CBA - Canadian Bankers’ Acceptance Rate, Euribor - Euro Interbank Offered Rate, Hibor - Hong Kong Interbank Offered Rate, and Libor - London Interbank Offered Rate.

2. The following debt series are issued for Provincial purposes and for OEFC: DMTN197, DMTN199, DMTN135, DMTN201, DMTN205, DMTN163, DMTN208, DMTN173, DMTN217, DMTN183, DMTN79, DMTN218, DMTN195, DMTN140, DMTN200, DMTN207, DMTN212, DMTN215, HP, DMTN223, KJ, LQ, DMTN158, DMTN164, DMTN182, DMTN204, DMTN214, DMTN220, PE, G62, PU and EMTN82.

3. The Canada Pension Plan Investment Board (CPPIB) invests funds in the Province of Ontario’s non-marketable securities. Effective July 1, 2005, under a side-letter agreement signed between the CPPIB and the Province, CPPIB offered the Province upon maturity of the debentures held to the credit of the Canada Pension Plan Investment Fund (CPPIF) that were issued before January 1, 1998, an option of issuing new replacement debentures to the CPPIB with a maximum term of 30 years (minimum term of 5 years and with subsequent roll over options subject to the 30 years maximum from the date of issue of the first replacement debenture) at a rate based on the capital market rates at the time of roll over. These debentures are not negotiable or transferable and are assignable only to a wholly-owned subsidiary of the Canada Pension Plan Investment Board. On April 1, 2007, all debentures held to the credit of the CPPIF or purchased by the Minister of Finance of Canada in accordance with Section 110 of the Canada Pension Plan were transferred to the CPPIB.

4. OPB & OPPT: Pursuant to the Ontario Public Service Employees’ Pension Act 1994 and the Asset Transfer Agreement of December 12, 1994, the Province was obligated to re-split the debentures between the Public Service Pension Fund (“PSPF”) and the Ontario Public Service Employees’ Union Pension Plan Trust Fund (“OPSEU Fund”). On June 13, 1997 a Restated Sponsorship Amendment and Asset Transfer Agreement was signed, replacing the 1994 agreement and which resulted in the existing split after debt payment. The terms of these debentures require that the principal be repaid in 12 equal monthly payments in the year preceding the date of maturity.

5. OIIC: Total outstanding amount is $1,139 million, including $492 million of zero coupon bonds, $91 million of compound fixed rate bonds and $556 million of bonds held by Infrastructure Ontario.

6. CMHC: The terms of these debentures require that equal payments be made each year until their maturity. Each payment consists of blended principal and interest.

7. The Province entered into interest rate agreements for certain Canadian bonds to effectively convert their interest rate obligations according to the Province’s risk management strategy. These bonds and effective rates are: DMTN198 3.02%, DMTN199 2.75%, MW 3M CBA rate – 0.05%, DMTN203 3.39%, DMTN1 3M CBA rate – 0.02%, DMTN205 2.61%, DMTN209 2.83%, DMTN196 3.73%, DMTN210 2.77%, DMTN211 2.31%, DMTN173 3M CBA rate – 0.279% ($210 million), DMTN219 1.95%, DMTN217 1.88%, DMTN79 3M CBA – 0.02% ($125 million), DMTN105 4.94%, DMTN195 3M CBA rate + 0.58% ($600 million), DMTN180 4.52%, DMTN221 2.19% ($475 million), DMTN222 2.52% ($531 million), DMTN224 2.14% and EMTN73 4.34%.

8 DMTN149: Bonds are extendible at the option of the bondholders on the initial maturity date of June 2, 2016 to the final maturity date of June 2, 2035 and, if extended, are exchangeable at the option of the bondholders on June 13, 2016 for Series DMTN119. Interest is payable semi-annually at 3.6% until June 2, 2016 and 4.8% thereafter, if extended. In addition, the Province entered into interest rate agreements that effectively converted the interest rate on this obligation to a rate of 4.67%.

9. DMTN152: Bonds are extendible at the option of the bondholders on the initial maturity date of December 2, 2016 to the final maturity date of June 2, 2035 and, if extended, are exchangeable on December 14, 2016 for Series DMTN119 at par. Interest is payable semi-annually at 3.75% until the initial maturity date and thereafter at 4.75%, if extended. In addition, the Province entered into interest rate agreements that effectively converted the interest rate on this obligation to a rate of 4.76%.

10. MH: The terms of these debentures require that a special one-time interest payment of $31.1 million be made at maturity.

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11. DMTN116: Bonds are extendible at the option of the bondholders on the initial maturity date of September 8, 2013 to the final maturity date of March 8, 2033. Interest is payable semi-annually at 4.625% until the initial maturity date and at 5.85% if extended. On September 8, 2013, the bondholders exercised the option to extend the maturity date to March 8, 2033 with interest payable at 5.85%. In addition, the Province entered into interest rate agreements that effectively converted the interest rate on this obligation to a rate of 4.22%.

12. DMTN157: Interest is payable semi-annually at 15.0% until January 13, 2006 and thereafter at 5.0%.

13. Series HZ, JA, JB, JC, JD: These are zero coupon bonds which require unequal payments consisting of principal and interest to be made at predetermined irregular intervals. During the fiscal year 2013-14, principal repaid was $1.9 million. By January 10, 2035, the principal and interest to be repaid on these bonds will be $230 million.

14. DMTN133: Bonds are retractable at the option of the bondholders on December 2, 2014 or exchangeable for Series DMTN119 at par on December 15, 2014. Interest is payable at 4.0% until December 2, 2014 and thereafter at 5.35% until final maturity date. In addition, the Province entered into interest rate agreements that effectively converted the interest rate on this obligation to a rate of 5.26%.

15. DMTN158: This Real Return Bond bears interest to the index adjusted principal in relation to All-Items Consumer Price Index for Canada (the “CPI”), issued with a base index of 127.54839 on March 8, 2006. Consequent to the change of official time base reference period from 1992 to 2002 by the Bank of Canada on June 19, 2007, the base index has been changed to 107.18352. Total issue size is $2,844 million in principal, of which $700 million has been on-lent to OEFC, and $300 million has been swapped effectively to a nominal debt paying a fixed rate of 4.66%. The amount outstanding represents the indexed value of the principal.

16. DMTN117: The bond was issued at a high premium in 2004 to offer a yield of 5.74%.

17. JL: The terms of these debentures require unequal payments, consisting of both principal and interest, to be made at predetermined irregular intervals with the final payment on January 10, 2045. The total principal and interest to be payable over the life of the debenture is $1,325 million.

18. OSB: Ontario Savings Bonds are redeemable at the option of the holders on June 21 and December 21 and for 14 calendar days following the redemption date of June 21 and December 21, with the exception of Fixed-Rate bonds which are redeemable at maturity only. Starting in 2009, Variable Rate Bonds are redeemable annually only on June 21. All current outstanding OSBs may be redeemed upon the death of the beneficial owner.

OSB — Fixed Rate:

In 2009, fixed rate bonds were issued for a term of two, three and five years. In 2010 and 2011, fixed rate bonds were issued for a term of three, seven and ten years. In 2012 and 2013, fixed-rate bonds were issued for a term of three and ten years only.

OSB — Step-up Rate:

2009 Series: Interest is payable at 0.75%, 1.5%, 2.5%, 3.5% and 4.5%,

2010 Series: Interest is payable at 1.0%, 2.0%, 3.0%, 3.75%, and 4.25%,

2011 Series: Interest is payable at 1.25%, 1.5%, 2.0%, 2.5%, and 3.75%,

2012 Series: Interest is payable at 1.25%, 1.5%, 1.75%, 2.0%, and 2.25%,

2013 Series: Interest is payable at 1.25%, 1.5%, 1.75%, 2.0%, and 2.25%, in year 1, 2, 3, 4 and 5 respectively.

OSB – Variable Rate only:

For bonds issued prior to 2009, the Minister of Finance resets the interest rate every six months. Starting in 2009, the interest rate is reset yearly, on June 21 only. On June 21, 2013 and December 21, 2013, the interest rate was reset at 1.3%.

19. OSB: The outstanding amount represent bonds matured but not yet presented for redemption. No interest is payable on these bonds.

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20. All foreign currency debt has been converted into Canadian dollar equivalents at the rates of the currency exchange agreements if the debt was hedged, or at year end exchange rates if unhedged. 98.0 per cent of foreign currency debt is hedged as at March 31, 2014. The exchange rates of foreign currencies to Canadian dollars as at March 31, 2014 are: Australian dollar 1.02430, euro 1.52164, Hong Kong dollar 0.14241, Japanese yen 0.010703, New Zealand dollar 0.95791, Norwegian krone 0.184475, South African rand 0.10492, Swiss franc 1.24955, United States dollar 1.1046, U.K. pound sterling 1.84153.

In addition, the Province entered into interest rate agreements that effectively converted these interest rate obligations in accordance with the Province’s risk management strategies. These bonds and effective rates are:

(a) Australia in AUD 3.82%, EMTN in HKD 3.33%, Global in NZD 4.24%, EMTN in NOK 3.01%, EMTN in ZAR 4.36%,

(b) EMTN in Euro: 4.65% ($4,665 million), 3M CBA + 1.43% ($1,744 million)

(c) Global in Euro: 4.00%

(d) Japan in Yen: 3.38%, EMTN in Yen: 1.93% ($1,031 million)

(e) EMTN in CHF: 4.12% ($1,823 million), 5.15% ($246 million, mixed rate)

(f) Canada in USD 4.47%

(g) US in USD: 1.84% ($254 million), 1.24% ($829 million mixed rate)

(h) Global in USD: 3.46% ($28,240 million), 3M CBA + 0.34% ($12,377 million), 1.47% ($2,514 million)

The OEFC also entered into interest rate agreements that effectively converted these interest rate obligations in accordance with the OEFC’s risk management strategies. These bonds and effective rates are:

(i) Australia in AUD 4.24%, Global in Euro 4.0%, EMTN in HKD 4.13%, EMTN in CHF 5.27%, EMTN in USD 4.22%, Global in USD: 5.02% ($553 million), 3M CBA + 0.32% ($295 million).

21. U.S. Commercial Paper issues are discount notes with maturities up to 270 days.

22 SBT: A School Board Trust was created in June 2003 to permanently refinance debt incurred by 55 school boards. The Trust issued 30-year sinking fund debentures amounting to $891 million and $882 million of the proceeds was provided to the 55 school boards in exchange for the irrevocable right to receive future transfer payments from the Province. An annual transfer payment is made by the Ministry of Education to the Trust’s sinking fund under the School Board Operating Grant program to retire the debt over 30 years.

23. Total consolidation adjustments include third party debt issued by other government organizations and the elimination of provincial debt held by these organizations. The following are the provincial debt held by other government organizations (in millions):

Ontario Bonds:

AgriCorp: $18m DMTN132, $10.1m DMTN135, $20m DMTN173, $3m DMTN197 and $3m MW.

Forest Renewal Trust: $2.5m DMTN173, $1.6m DMTN195.

Infrastructure Ontario: $15m DMTN197, $2.6m DMTN214, $66m DMTN215, $100.7m DMTN218 and $6.9m DMTN220.

Ontario Energy Board: $2.8m DMTN173, $0.9m DMTN201 and $1m DMTN208.

Ontario Trillium Foundation: $11.5m DMTN135, $11.4m DMTN163, $11.5m DMTN173, $11.8m DMTN197, $11.9m DMTN201, and $12m DMTN208.

Ontario Immigrant Investor Corporation: $582.8 m OIIC 118-156.

Treasury Bills:

Northern Ontario Heritage Fund Corporation: $162m, Ontario Capital Growth Corporation: $112m, Ontario Immigrant Investor Corporation: $69m, Infrastructure Ontario: $496m, Ontario Trillium Foundation: $38m and Forest Renewal Trust: $2m.

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SEC Registered Debt Outstanding for Province of Ontario

Date of Maturity	Date of Issue		Series		Interest Rate (%)		Issuing Currency		Outstanding
February 3, 2015		February 3, 2005		PE		4.50		USD		500,000,000
February 5, 2015		February 5, 2010		G47		2.95		USD		3,000,000,000
April 1, 2015		February 29, 2012		USMTN1		3M LIBOR + 0.15		USD		750,000,000
May 26, 2015		May 24, 2012		G57		0.95		USD		3,500,000,000
June 16, 2015		June 16, 2005		PG		6.25		NZD		718,450,000
June 16, 2015		June 16, 2010		G50		2.70		USD		2,500,000,000
August 13, 2015		February 7, 2013		G61		3M LIBOR + 0.05		USD		500,000,000
September 15, 2015		September 15, 2010		G51		1.875		USD		1,250,000,000
January 19, 2016		January 18, 2006		PJ		4.75		USD		950,000,000
April 27, 2016		April 27, 2006		PK		5.45		USD		900,000,000
May 10, 2016		May 10, 2011		G54		2.30		USD		3,000,000,000
July 22, 2016		July 23, 2013		G64		1.00		USD		2,500,000,000
September 21, 2016		September 21, 2011		G56		1.60		USD		2,000,000,000
November 28, 2016		November 28, 2006		PM		4.95		USD		891,000,000
October 25, 2017		October 25, 2012		G60		1.10		USD		2,250,000,000
November 23, 2017		November 23, 2012		USMTN2		3M LIBOR + 0.25		USD		250,000,000
December 15, 2017		December 15, 2010		G52		3.15		USD		1,250,000,000
January 9, 2018		January 9, 2009		PU		3M EURIBOR + 1.39		EUR		120,000,000
February 14, 2018		February 14, 2013		G62		1.20		USD		705,000,000
July 16, 2018		July 14, 2011		G55		3.00		USD		1,000,000,000
September 27, 2018		September 27, 2013		G63		2.00		USD		1,750,000,000
October 9, 2018		October 9, 2014		G68		1.75		CAD		500,000,000
January 30, 2019		January 30, 2014		G65		2.00		USD		2,000,000,000
September 27, 2019		September 27, 2012		G59		1.65		USD		1,250,000,000
October 7, 2019		October 7, 2009		G44		4.00		USD		2,000,000,000
April 14, 2020		April 14, 2010		G48		4.40		USD		2,000,000,000
September 10, 2021		September 11, 2014		G67		2.50		USD
										2,000,000,000
June 29, 2022		June 29, 2012		G58		2.45		USD		1,000,000,000
February 7, 2024		February 7, 1994		HS		7.50		CAD		1,106,700,000
May 16, 2024		May 16, 2014		G66		3.20		USD		1,250,000,000

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SEC Registered Debt Outstanding Issued by the Province for Ontario Electricity Financial Corporation (“OEFC”)

Date of Maturity	Date of Issue		Series		Interest Rate (%)		Issuing Currency		Outstanding
February 3, 2015		February 3, 2005		PE		4.50		USD		500,000,000
October 9, 2017		January 9, 2009		PU		3M EURIBOR + 1.39		EUR		105,000,000
February 14, 2018		February 14, 2013		G62		1.20		USD		295,000,000

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Ontario Electricity Industry

Ontario Electricity Financial Corporation (“OEFC”), a Crown agency, is the legal continuation of Ontario Hydro and is responsible for the management of that corporation’s debt and other liabilities that were not transferred to successor companies as part of the restructuring of Ontario Hydro in 1999, including the administration of certain power purchase agreements with non-utility generators. As at March 31, 2014, OEFC had total debt of $26.1 billion (2013, $27.4 billion). $19.2 billion of OEFC’s debt as at March 31, 2014 (2013, $19.4 billion) is held by the Province and included in total debt and other liabilities.

Ontario Hydro’s successor companies include Ontario Power Generation Inc. (“OPG”), a generation business, and Hydro One Inc. (“Hydro One”), a transmission and distribution business, both of which are wholly owned by the Province. In addition, the Independent Electricity System Operator (“IESO”) is the electricity system and market operator and the Electrical Safety Authority is responsible for electricity safety inspection. Pursuant to various transfer orders (“Transfer Orders”), assets of the former Ontario Hydro were transferred to OPG, Hydro One and the IESO in exchange for debt. The Province assumed a portion of OPG’s and Hydro One’s debt in exchange for equity, in order to provide them with commercially acceptable capital structures. As of March 31, 2014, OEFC held notes receivable in the amount of $4.0 billion from OPG, $122 million from the IESO and $8.9 billion from the Province. Note that effective January 1, 2015, the IESO and Ontario Power Authority (“OPA”) will merge, with the newly amalgamated agency to be called the IESO.

Subject to a deductible of $10 million, OEFC has agreed to indemnify Hydro One in respect of (i) the failure of the Transfer Orders to transfer any asset, right or thing, or any interest therein related to its business; (ii) any adverse claims or interests, including those of the Crown, subject to certain exclusions, or any deficiency or lack of title in respect of any asset, right or thing or any interest therein, which was intended to be transferred; and (iii) the creation, treatment, payment to or from or other dealing with any equity account of Ontario Hydro, including with respect to certain litigation relating thereto. The Province has guaranteed the obligations of OEFC under the indemnity.

The Electricity Act, 1998 (“Electricity Act”) defines “stranded debt” as the amount of OEFC’s debt and other liabilities that, in the opinion of the Minister of Finance, cannot reasonably be serviced and retired in a competitive electricity market. As of April 1, 1999, the Ministry of Finance estimated the stranded debt to be approximately $20.9 billion. OEFC’s unfunded liability is the net deficiency of OEFC’s assets over its liabilities. The opening unfunded liability of $19.4 billion as at April 1, 1999 represented the stranded debt adjusted for $1.5 billion of additional assets transferred to OEFC. OEFC’s unfunded liability at March 31, 2014 was $9.8 billion.

As part of the restructuring of the electricity sector, a long-term plan provides for certain dedicated revenue streams to service and retire OEFC’s debt and other liabilities. These revenue streams are established under the Electricity Act and include payments-in-lieu of property taxes and federal and provincial corporate income taxes paid by OPG, Hydro One and the municipal electricity utilities.

The Province, as shareholder, is eligible to receive dividend payments on its shares in OPG and Hydro One. Pursuant to the government’s commitment to keep electricity income in the electricity sector, the cumulative combined net income of OPG and Hydro One in excess of the Province’s cumulative interest expenditure on its investment in the companies is allocated to OEFC for purposes of debt retirement (“electricity sector dedicated income”).

As at April 1, 1999, the present value of future payments-in-lieu of taxes and electricity sector dedicated income was estimated at $13.1 billion. Subtracting the $13.1 billion from stranded debt of $20.9 billion resulted in a difference of $7.8 billion, the initial estimated residual stranded debt. The Electricity Act allows for a DRC of 0.7 cents per kilowatt hour to be levied on Ontario electricity users. This charge, collected by the IESO, distributors and retailers, is payable to OEFC. On April 23, 2014, the Ontario government announced that it would remove the DRC cost from residential users’ electricity bills after December 31, 2015. The DRC would remain on all other electricity users’ bills until the residual stranded debt is retired.

In accordance with Ontario Regulation 89/12, the Minister of Finance determined the residual stranded debt to be $2.6 billion as at March 31, 2014. The residual stranded debt determination as at March 31, 2014, is based on a stranded debt amount of $9.8 billion, reduced by the estimated present value of future dedicated revenues to OEFC of $7.2 billion. As reported in the 2014 Ontario Economic Outlook and Fiscal Review, the estimate for when the residual stranded debt will likely be retired is by the end of 2018.

39

The Electricity Act and the Ontario Energy Board Act, 1998 set out the legislative framework for Ontario’s electricity market and restructuring of Ontario Hydro. Open, non-discriminatory access to transmission and distribution systems commenced May 1, 2002. Since 2005, electricity prices payable by consumers reflect a blend of contract prices, regulated prices for OPG’s output from its price-regulated nuclear and hydroelectric plants, and market prices. OPG’s previously unregulated and non-contracted hydroelectric plants were prescribed for rate regulation, effective July 1, 2014. Regulated prices for OPG are approved by the Ontario Energy Board (“OEB”). The OEB also sets the commodity price payable by low volume and certain other specified consumers under the Regulated Price Plan (“RPP”). The OPA finances any differences between prices under the RPP and the actual supply cost of electricity, with any shortfall or surplus to be recovered or returned through the setting of RPP prices in the following period. Note that effective January 1, 2015, the IESO and Ontario Power Authority (“OPA”) will merge, with the newly amalgamated agency to be called the Independent Electricity System Operator (“IESO”).

The Province, OPG and certain subsidiaries of OPG are parties to the Ontario Nuclear Funds Agreement (“ONFA”), which governs the establishment, funding and management of segregated funds to ensure sufficient funds are available to pay the costs of nuclear station decommissioning and nuclear used fuel waste management.

Under ONFA, the Province is liable to make payments should the cost estimate for nuclear used fuel waste management rise above specified thresholds, for a fixed volume of used fuel. The likelihood and amount by which the cost estimate could rise above these thresholds cannot be determined at this time. The cost estimate will be updated periodically to reflect new developments in the management of nuclear used fuel waste.

As well, under ONFA, the Province guarantees a return of 3.25 per cent over the Ontario Consumer Price Index for the portion of the nuclear used fuel waste management segregated fund related to the fixed volume of used fuel. If the earnings on assets in that fund related to the fixed volume exceed the guaranteed rate, the Province is entitled to the excess.

Two agreements are in place to satisfy the Canadian Nuclear Safety Commission (CNSC) licensing requirements for financial guarantees in respect of OPG’s nuclear station decommissioning and nuclear waste management obligations. One agreement gives the CNSC access (in prescribed circumstances) to the segregated funds established under ONFA. The other agreement between the Province and the CNSC provides a direct provincial guarantee to the CNSC on behalf of OPG. This guarantee, for up to $1.551 billion, effective January 1, 2013, relates to the portion of the decommissioning and waste management obligations not funded by the estimated value of ONFA funds as at January 1, 2013. In return, the Province receives from OPG an annual fee equal to 0.5 per cent of the value of the guarantee. The current provincial guarantee is in effect through the end of 2017.

40

CONTINGENT LIABILITIES

OBLIGATIONS GUARANTEED BY THE PROVINCE OF ONTARIO

For the year ended March 31, 2014

LOANS GUARANTEED

	Year of Issue	Rate of Interest	Outstanding March 31, 2014		References
		%	$
MINISTRY OF AGRICULTURE, FOOD / RURAL AFFAIRS
Commodity Loan Guarantee Program	Ongoing	Various		22,514,465		(1)
Feeder Cattle Loan Guarantee Program	Ongoing	Various		69,405,059		(2)
FarmPlus Rural Loan Pool Program	Pre-2006	Various		1,653,161
TOTAL MINISTRY OF AGRICULTURE, FOOD / RURAL AFFAIRS				93,572,685
MINISTRY OF ECONOMIC DEVELOPMENT, TRADE AND EMPLOYMENT / RESEARCH AND INNOVATION
MaRS Phase 2 Debt Service Guarantee	2011	None		105,642,563
TOTAL MINISTRY OF ECONOMIC DEVELOPMENT, TRADE AND EMPLOYMENT / RESEARCH AND INNOVATION				105,642,563
MINISTRY OF INFRASTRUCTURE
Pan Am Athletes’ Village – Project Co.	2013-14	15		243,000,000
TOTAL MINISTRY OF INFRASTRUCTURE				243,000,000
MINISTRY OF NATURAL RESOURCES
Olav Haavaldsruud Timber Company Ltd. – sawmill	2011	7		4,430,000
Olav Haavaldsruud Timber Company Ltd. – co-gen project	2011	7.5		17,800,000
Global Sticks Inc. – Loan # 2	2009	6		1,606,256
Global Sticks Inc. – Loan # 4	2010	6.5%		1,316,744
TOTAL MINISTRY OF NATURAL RESOURCES				25,153,000
MINISTRY OF TRAINING, COLLEGES AND UNIVERSITIES
Ontario Student Loan Plan:
Class “A”	Various	Prime		3,134,873
Class “B”	Various	Prime+1		293,396
Class “C”	Various	Prime+1		53,306,786
TOTAL MINISTRY OF TRAINING, COLLEGES AND UNIVERSITIES				56,735,055
TOTAL LOANS GUARANTEED				524,103,303

41

OTHER GUARANTEES

	Year of Issue	Rate of Interest	Outstanding March 31, 2014		References
		%	$
MINISTRY OF FINANCE
Loan Facility by United Communities Credit Union Ltd. To Pelee Island Co-operative Association	2010	4.75		561,115		(3)
Credit Facility by The Royal Bank of Canada to Ontario College of Trades	2011	Prime–0.75		352,500
Loan guarantees under Aboriginal Loan Guarantee Program	2011	Various		129,950,000		(4)
TOTAL MINISTRY OF FINANCE				130,848,904
TOTAL OTHER GUARANTEES				130,848,904
TOTAL LOANS AND OTHER GUARANTEES				654,952,207

FINANCIAL GUARANTEES – MINISTRY OF FINANCE:

Two agreements are in place to satisfy the Canadian Nuclear Safety Commission (CNSC) licensing requirements for financial guarantees in respect of OPG’s nuclear station decommissioning and nuclear waste management obligations. One agreement gives the CNSC access (in prescribed circumstances) to the segregated funds established under ONFA. The other agreement between the Province and the CNSC provides a direct Provincial guarantee to the CNSC on behalf of OPG. This guarantee, for up to $1.551 billion, effective January 1, 2013, relates to the portion of the decommissioning and waste management obligations not funded by the estimated value of ONFA Funds as at January 1, 2013 and will remain effective until the end of 2017. In return, the Province receives from OPG an annual fee equal to 0.5 per cent of the value of the guarantee.

References:

1. The Province’s maximum liability for the program is $120,000,000.

2. The Province’s maximum liability for the program is $130,000,000.

3. The Province has guaranteed the repayment of loan facility made by United Communities Credit Union Limited to Pelee Island Cooperative Association for a period beginning May 11, 2010 and ending at the earliest of April 1, 2015 or repayment of all the amounts borrowed. The maximum amount guaranteed is $ 0.6 million plus any unpaid interest, costs and expenses thereon.

4. The Province has provided four loan guarantees under Aboriginal Loan Guarantee Program: two in the fiscal year 2011-12 and two others in the fiscal year 2013-14 for a combined total of $129.95 million. These guarantees will mature in the fiscal year 2025-26 and 2029-30. Borrowers pay the Province an annual loan guarantee fee of 0.15% of the guaranteed amount. The Aboriginal Loan Guarantee Program provides loan guarantees to support Aboriginal equity participation in renewable energy generation and transmission projects and has a maximum program envelope of $400 million.

42

CLAIMS AGAINST THE CROWN

As at March 31, 2014

Of the claims outstanding against the Crown in right of Ontario as at March 31, 2014, 56 (2013, 62) were for amounts over $50 million as reported in Note 12 to the Province’s Consolidated Financial Statements, contained in the 2013-2014 Public Accounts of Ontario. These claims arise from legal action, either in progress or threatened, in respect of aboriginal land claims, breach of contract, damages to persons and property and like items.

The amounts claimed have not been specified, but in each case are expected to exceed $50 million.

1. Mary Lou LaPratte, Roland LaPratte, Sheila Horrell, Arthur Horrell et al. v. HMQRO.

2. Monaghan, John Richard v. HMQRO et al.

3. Twain, Jim Chief v. HMQRO.

4. Chuang, David v. HMQRO.

5. Greenfield Ethanol (formerly Commercial Alcohols Inc.) v. HMQRO.

6. Dr. Jeffrey Lipsitz v. HMQRO.

7. Magnotta Winery Corporation et al. v. AGCO et al.

8. Mayotte, Michael v. HMQRO.

9. Keatley Surveying Ltd. v Teranet Inc.

10. W. Ross Macdonald School for the Blind v. HMQRO.

11. Trillium Power Wind Corporation v. HMQRO.

12. George Stifel v. HMQRO.

13. Janice Cerra et al. v. Corporation of the City of Thunder Bay.

14. Northern Superior Resources Inc. v. HMQRO.

15. SkyPower CL 1 LP, et al v. HMQRO and the Ontario Power Authority.

16. Quinte, Elaine, et al v Algoma Central Properties – Elliot Lake Algo Mall Collapse.

17. Papassay, Holly v HMQRO.

18. Johnson, Glenn, et al v. HMQRO: Draft class action claim for damages contemplated by a class comprised of inmates incarcerated at the EMDC between January 1, 2010 and August 25, 2013.

19. StandardBred Breeders of Ontario Association v. HMQRO and OLG.

20. Ontario Schedule 1 Facilities Adult Occupational Centre, Edgar and D’Arcy Place McIntyre, Marlene v. HMQRO.

21. Northern Diamond Gaming Services Limited and Diamond Gaming Services Inc. et al. v. HMQRO.

22. The Chippewas of Sarnia, the Chippewas of Kettle Point et al. v. HMQRO, Polysar Hydrocarbons Limited et al.

23. Clifford Meness et al., for themselves and all other members of the Algonquins of Golden Lake Band of Indians v. HMQRO.

24. Roger Southwind on behalf of the Lac Seul Indian Band v. HMQRO.

25. Moose Factory First Nation et al. v. Spruce Falls Power and Paper Company Limited.

26. New Post First Nation et al. v. Spruce Falls Power and Paper Company Limited.

27. Missanabie Cree First Nation v. HMQRO and HMQRC.

28. Six Nations of the Grand River Band v. HMQRO.

29. Wikwemikong Indian Band v. HMQRO.

30. Chippewas of Sarnia Band v. HMQRO.

31. Mississauga of Alderville, Beausoleil, Chippewas of Georgia Island, Mnjikaning (Rama), Curve Lake Hiawatha, and Scugog Island First Nation v. HMQRO.

32. Wesley Big George on behalf of seven Lake of the Woods First Nations v. HMQRO.

33. Big Grassy (Mishkosiimiiniiziibing) First Nation and Ojibways of Onigaming First Nations adjacent to the Lake of the Woods and Winnipeg River area who are signatories to Treaty 3 v. HMQRO.

34. Wauzhushk Onigum First Nation and Ochiichagwe’babig o’ining First Nation and Washagamis Bay First Nations v. HMQRO.

35. Walpole Island First Nations v. HMQRO.

36. The Begetikong Anishnabe First Nation (aka the Ojibways of Pic River) Chief Roy Michano, Councilor Duncan Michano and Councilor Arthur H. Fisher v. HMQRO.

37. Long Lake No. 58 First Nation v. HMQRO.

38. Biinjitiwaabik Zaaging Anishinabek First Nation (Rocky Bay Band) v. HMQRO.

39. Sand Point First Nation v. HMQRO.

40. Pic Mobert First Nation v. HMQRO.

41. Pays Plat First Nation v. HMQRC and HMQRO.

42. Whitesand First Nation v. HMQRO.

43. Moose Deer Point First Nation v. HMQRO.

43

44. Kinew, Tobasonakwut v. HMCRC and HMQRO.

45. Garden River First Nation Reserve No. 14 v. HMQRO.

46. Sinclare, Alfred v. HMQRO.

47. Agency One Damages v. HMQRO.

48. Atikameksheng Anishnawbek v. HMQRO and HMQRC, et al.

49. Kapuskasing Cree First Nation v. HMQRO, Ontario Power Generation et al.

50. Wahgoshig First Nations v. Solid Gold and HMQRO.

51. Aundeck OMNI Kaning First Nation et al.

52. Northwest Angle No. 33 First Nation: Claim for flooding and related damages and a declaration of fiduciary duty to the plaintiffs.

53. Inter-Leasing Inc. v. Minister of Revenue: Tax appeals under the Corporations Tax Act claiming a refund of corporate income tax reassessed in connection with a tax planning arrangement involving a BVI financing company.

54. Proceedings before the Copyright Board of Canada.

55. North American Free Trade Agreement (NAFTA) Chapter 11: Mesa Power Group claims that Canada breached obligations under the NAFTA as a result of the actions of the Province of Ontario Power Authority (OPA) in allocating transmission capacity and awarding Feed-in-Tariff (FIT) contracts in the Bruce Region.

56. North American Free Trade Agreement (NAFTA) Chapter 11: Windstream Energy alleges that Canada breached its obligations under NAFTA as a result of measures and actions taken by Ontario in relation to the deferral on the development of an offshore wind energy policy framework and the Feed-in-Tariff (FIT) Program.

* Updated for changes up to date of release of Public Accounts. 56 of the above claims were assessed as “not determinable”.

As at December 19, 2014

There were 102 claims outstanding against the Crown in right of Ontario, which were for amounts over $50 million each. The cost to the Province, if any, cannot be determined because the outcome of these actions is uncertain.

44

Economic Data Tables

The following tables present a comprehensive review of Ontario’s economy including, GDP information, G20 comparison, imports and exports, demographics and labour markets between 2000-2013.

45

Ontario, Gross Domestic Product (GDP), 2000-2013	Table 1
	($ Billions)
	2000		2001		2002		2003		2004		2005		2006
Real GDP (chained $2007)		513.3		522.3		539.1		546.1		562.0		579.5		590.3
Household Consumption		260.6		267.0		277.2		285.9		293.5		304.0		313.5
Government		106.6		110.7		114.2		119.6		124.7		127.1		133.2
Residential Construction		29.6		32.5		35.7		36.2		38.0		38.6		39.0
Non-residential Construction		13.7		13.5		13.9		13.5		13.4		13.6		15.3
Machinery and Equipment		22.9		21.6		19.9		21.3		23.1		26.0		28.2
Exports		316.9		306.6		312.0		312.6		328.4		335.7		338.1
Imports		261.7		249.5		255.2		263.5		281.8		290.7		302.2
Nominal GDP		449.2		465.5		490.1		505.5		530.2		552.8		574.3
Table 1 (continued)	($ Billions)
	2007		2008		2009		2010		2011		2012		2013
Real GDP (chained $2007)		597.8		596.9		578.5		598.2		613.8		624.4		632.4
Household Consumption		324.9		332.9		333.2		344.6		350.6		355.9		363.4
Government		136.3		142.6		149.7		157.5		153.9		154.2		153.6
Residential Construction		40.0		38.4		35.9		38.7		40.2		42.0		41.1
Non-residential Construction		16.3		15.4		14.5		14.8		18.1		19.6		18.5
Machinery and Equipment		28.0		28.3		21.8		24.0		24.4		23.8		21.8
Exports		339.2		317.2		274.3		298.6		313.1		323.4		329.1
Imports		313.7		306.9		272.8		304.3		317.5		323.1		323.4
Nominal GDP		597.8		604.3		595.4		629.5		658.6		679.6		695.7
Source: Statistics Canada.

46

Ontario, Gross Domestic Product (GDP), Annual Change, 2000–2013	Table 2
	(Per Cent Change)
	2000			2001			2002			2003			2004			2005			2006
Real GDP (chained $2007)		6.3			1.8			3.2			1.3			2.9			3.1			1.9
Household Consumption		4.8			2.5			3.8			3.1			2.7			3.6			3.1
Government		3.8			3.8			3.1			4.8			4.3			1.9			4.8
Residential Construction		7.0			9.9			9.9			1.3			5.0			1.7			0.9
Non-residential Construction		(12.6	)		(0.9	)		2.6			(2.8	)		(1.2	)		2.1			11.9
Machinery and Equipment		5.7			(5.5	)		(7.6	)		7.0			8.3			12.5			8.5
Exports		8.0			(3.2	)		1.7			0.2			5.0			2.2			0.7
Imports		7.5			(4.7	)		2.3			3.2			7.0			3.2			3.9
Nominal GDP		7.9			3.6			5.3			3.1			4.9			4.2			3.9
Table 2 (continued)	(Per Cent Change)
	2007			2008			2009			2010			2011			2012			2013
Real GDP (chained $2007)		1.3			(0.1	)		(3.1	)		3.4			2.6			1.7			1.3
Household Consumption		3.6			2.5			0.1			3.4			1.8			1.5			2.1
Government		2.4			4.6			5.0			5.2			(2.3	)		0.2			(0.4	)
Residential Construction		2.6			(4.0	)		(6.4	)		7.8			3.7			4.7			(2.3	)
Non-residential Construction		6.9			(5.5	)		(5.7	)		1.4			23.0			7.8			(5.2	)
Machinery and Equipment		(0.8	)		1.0			(22.7	)		10.0			1.7			(2.8	)		(8.2	)
Exports		0.3			(6.5	)		(13.5	)		8.8			4.9			3.3			1.8
Imports		3.8			(2.2	)		(11.1	)		11.5			4.4			1.8			0.1
Nominal GDP		4.1			1.1			(1.5	)		5.7			4.6			3.2			2.4
Source: Statistics Canada.

47

Ontario, Selected Economic Indicators, 2000–2013	Table 3
	2000		2001		2002		2003		2004		2005		2006
Retail Sales ($ Billions)		111.5		114.3		121.0		125.1		128.9		135.1		140.6
Housing Starts – Units (000s)		71.5		73.3		83.6		85.2		85.1		78.8		73.4
Compensation of Employees ($ Billions)		236.4		243.0		251.2		262.1		276.9		289.8		304.3
Primary Household Income ($ Billions)		302.6		311.5		319.4		330.4		347.6		363.5		382.7
Net Operating Surplus – Corporations ($ Billions)		53.1		54.3		64.6		67.4		69.7		73.7		71.7
Consumer Price Index (2002 = 100)		95.1		98.0		100.0		102.7		104.6		106.9		108.8
Labour Force (000s)		6,169		6,322		6,493		6,675		6,766		6,823		6,884
Employment (000s)		5,815		5,921		6,029		6,212		6,308		6,371		6,449
Unemployment Rate (%)		5.7		6.3		7.2		6.9		6.8		6.6		6.3
Table 3 (continued)
	2007		2008		2009		2010		2011		2012		2013
Retail Sales ($ Billions)		146.0		151.7		148.1		156.3		161.9		164.5		168.3
Housing Starts – Units (000s)		68.1		75.1		50.4		60.4		67.8		76.7		61.1
Compensation of Employees ($ Billions)		317.3		326.6		324.5		336.5		352.1		364.5		374.4
Primary Household Income ($ Billions)		402.0		413.0		413.2		425.1		444.3		460.1		473.7
Net Operating Surplus – Corporations ($ Billions)		75.3		68.8		58.4		76.0		84.3		83.8		83.8
Consumer Price Index (2002 = 100)		110.8		113.3		113.7		116.5		120.1		121.8		123.0
Labour Force (000s)		7,013		7,133		7,147		7,237		7,302		7,357		7,441
Employment (000s)		6,564		6,666		6,502		6,610		6,731		6,784		6,879
Unemployment Rate (%)		6.4		6.5		9.0		8.7		7.8		7.8		7.5
Sources: Statistics Canada and Canada Mortgage and Housing Corporation.

48

Ontario, Selected Economic Indicators, Annual Change, 2000–2013	Table 4
	(Per Cent Change)
	2000			2001			2002			2003		2004			2005			2006
Retail Sales		6.6			2.5			5.9			3.4		3.0			4.8			4.0
Housing Starts		6.4			2.5			14.1			1.9		(0.1	)		(7.4	)		(6.8	)
Compensation of Employees		9.9			2.8			3.4			4.3		5.6			4.7			5.0
Primary Household Income		7.7			2.9			2.5			3.4		5.2			4.6			5.3
Net Operating Surplus – Corporations		6.9			2.1			19.0			4.4		3.5			5.7			(2.7	)
Consumer Price Index		2.9			3.0			2.0			2.7		1.9			2.2			1.8
Labour Force		2.5			2.5			2.7			2.8		1.4			0.8			0.9
Employment		3.2			1.8			1.8			3.0		1.5			1.0			1.2
Table 4 (continued)	(Per Cent Change)
	2007			2008			2009			2010		2011			2012			2013
Retail Sales		3.8			3.9			(2.4	)		5.5		3.6			1.6			2.3
Housing Starts		(7.2	)		10.2			(32.9	)		20.0		12.2			13.2			(20.4	)
Compensation of Employees		4.3			3.0			(0.6	)		3.7		4.6			3.5			2.7
Primary Household Income		5.0			2.7			0.0			2.9		4.5			3.6			2.9
Net Operating Surplus – Corporations		5.0			(8.6	)		(15.1	)		30.3		10.8			(0.6	)		0.0
Consumer Price Index		1.8			2.3			0.4			2.5		3.1			1.4			1.0
Labour Force		1.9			1.7			0.2			1.2		0.9			0.8			1.1
Employment		1.8			1.6			(2.5	)		1.7		1.8			0.8			1.4
Sources: Statistics Canada and Canada Mortgage and Housing Corporation.

49

Ontario, Real Gross Domestic Product by Industry at Basic Prices, 2000–2013	Table 5
	($2007 Chained Millions)
	2000		2001		2002		2003		2004		2005		2006
Goods Producing Industries		145,223		141,545		145,034		145,839		147,080		148,703		146,641
Primary		13,717		13,706		12,875		12,803		13,179		13,688		12,760
Utilities		9,329		9,086		9,385		9,329		9,604		9,966		10,044
Construction		24,228		26,245		27,588		28,484		28,914		29,512		30,280
Manufacturing1		97,938		93,025		95,364		95,411		95,664		95,914		93,630
Services Producing Industries		335,113		346,655		355,834		363,639		376,039		388,608		401,818
Wholesale Trade		26,721		26,976		27,890		29,321		30,063		32,123		33,540
Retail Trade		22,544		23,579		25,216		26,234		27,164		27,701		28,843
Transportation and Warehousing		18,244		18,855		18,704		18,427		19,283		20,195		20,548
Information and Cultural (incl. Telecommunications)		15,785		17,247		17,517		17,634		19,383		20,054		20,689
Finance and Insurance		40,065		41,850		41,955		42,715		44,620		45,988		49,028
Real Estate and Leasing		56,388		59,144		61,181		62,249		63,828		66,277		67,330
Professional and Administrative Services		43,198		43,945		45,358		46,897		48,139		49,735		51,541
Management of Companies and Enterprises		2,949		3,389		3,670		3,725		3,703		3,768		3,927
Education		24,366		24,544		25,089		25,623		26,580		28,002		29,209
Health Care and Social Services		30,332		30,655		31,174		32,282		33,277		33,970		34,945
Arts, Entertainment and Recreation		3,975		4,213		4,220		4,251		4,409		4,448		4,479
Accommodation and Food		10,233		10,327		10,618		9,792		10,000		10,007		10,042
Other Services		9,159		9,625		10,023		10,195		10,531		10,692		10,831
Public Administration		31,341		32,030		32,866		34,233		34,796		35,309		36,709
Total Production		481,448		488,537		501,434		509,891		523,383		537,515		548,616

50

Table 5 (continued) Ontario, Real Gross Domestic Product by Industry at Basic Prices, 2000–2013
	($2007 Chained Millions)
	2007		2008		2009		2010		2011		2012		2013
Goods Producing Industries		142,641		136,490		120,807		128,684		131,880		134,409		133,222
Primary		12,233		13,442		10,257		11,170		12,629		12,910		13,494
Utilities		10,283		11,056		10,996		11,274		11,269		11,216		11,713
Construction		31,247		30,282		30,839		32,694		32,712		33,478		32,434
Manufacturing1		88,878		81,743		67,991		72,842		74,698		76,225		75,013
Services Producing Industries		414,466		419,637		417,406		427,984		438,326		444,921		453,307
Wholesale Trade		35,018		33,750		32,142		35,217		37,565		38,216		38,133
Retail Trade		29,426		30,236		29,281		30,192		30,488		30,946		31,735
Transportation and Warehousing		20,799		21,601		20,301		21,203		21,915		21,902		21,978
Information and Cultural (incl. Telecommunications)		20,753		20,933		21,227		21,654		21,748		22,140		22,607
Finance and Insurance		51,319		50,270		49,213		50,345		52,018		53,187		55,430
Real Estate and Leasing		69,127		70,192		71,893		73,605		75,973		77,734		79,551
Professional and Administrative Services		53,648		53,630		51,450		52,202		53,514		54,327		55,185
Management of Companies and Enterprises		4,313		4,691		4,640		4,506		4,532		4,509		4,559
Education		30,163		31,228		31,863		32,638		32,528		33,099		33,951
Health Care and Social Services		36,277		37,384		38,160		38,480		39,196		39,856		40,418
Arts, Entertainment and Recreation		4,581		4,579		4,633		4,472		4,342		4,265		4,370
Accommodation and Food		10,103		10,254		10,339		10,281		10,583		10,913		11,237
Other Services		11,225		11,513		11,382		11,071		11,155		11,109		11,506
Public Administration		37,715		39,394		40,867		42,153		42,886		42,893		42,866
Total Production		557,107		556,219		538,494		556,962		570,508		579,634		586,874

¹  See Table 7 for detailed manufacturing industries.

Source: Statistics Canada.

51

Ontario, Real Gross Domestic Product by Industry at Basic Prices, Annual Change, 2000–2013	Table 6
	(Per Cent Change)
	2000			2001			2002			2003			2004			2005		2006
Goods Producing Industries		6.3			(2.5	)		2.5			0.6			0.9			1.1		(1.4	)
Primary		2.0			(0.1	)		(6.1	)��		(0.6	)		2.9			3.9		(6.8	)
Utilities		(0.3	)		(2.6	)		3.3			(0.6	)		2.9			3.8		0.8
Construction		3.3			8.3			5.1			3.2			1.5			2.1		2.6
Manufacturing1		8.2			(5.0	)		2.5			0.0			0.3			0.3		(2.4	)
Services Producing Industries		5.9			3.4			2.6			2.2			3.4			3.3		3.4
Wholesale Trade		7.7			1.0			3.4			5.1			2.5			6.9		4.4
Retail Trade		7.2			4.6			6.9			4.0			3.5			2.0		4.1
Transportation and Warehousing		3.2			3.4			(0.8	)		(1.5	)		4.6			4.7		1.7
Information and Cultural (incl. Telecommunications)		9.2			9.3			1.6			0.7			9.9			3.5		3.2
Finance and Insurance		8.1			4.5			0.3			1.8			4.5			3.1		6.6
Real Estate and Leasing		4.5			4.9			3.4			1.7			2.5			3.8		1.6
Professional and Administrative Services		12.9			1.7			3.2			3.4			2.6			3.3		3.6
Management of Companies and Enterprises		13.1			14.9			8.3			1.5			(0.6	)		1.8		4.2
Education		(0.3	)		0.7			2.2			2.1			3.7			5.3		4.3
Health Care and Social Services		3.7			1.1			1.7			3.6			3.1			2.1		2.9
Arts, Entertainment and Recreation		5.8			6.0			0.2			0.7			3.7			0.9		0.7
Accommodation and Food		1.2			0.9			2.8			(7.8	)		2.1			0.1		0.3
Other Services		5.6			5.1			4.1			1.7			3.3			1.5		1.3
Public Administration		2.3			2.2			2.6			4.2			1.6			1.5		4.0
Total Production		6.0			1.5			2.6			1.7			2.6			2.7		2.1

52

Table 6 (continued)	Ontario, Real Gross Domestic Product by Industry at Basic Prices, Annual Change, 2000–2013
	(Per Cent Change)
	2007			2008			2009			2010			2011			2012			2013
Goods Producing Industries		(2.7	)		(4.3	)		(11.5	)		6.5			2.5			1.9			(0.9	)
Primary		(4.1	)		9.9			(23.7	)		8.9			13.1			2.2			4.5
Utilities		2.4			7.5			(0.5	)		2.5			0.0			(0.5	)		4.4
Construction		3.2			(3.1	)		1.8			6.0			0.1			2.3			(3.1	)
Manufacturing1		(5.1	)		(8.0	)		(16.8	)		7.1			2.5			2.0			(1.6	)
Services Producing Industries		3.1			1.2			(0.5	)		2.5			2.4			1.5			1.9
Wholesale Trade		4.4			(3.6	)		(4.8	)		9.6			6.7			1.7			(0.2	)
Retail Trade		2.0			2.8			(3.2	)		3.1			1.0			1.5			2.5
Transportation and Warehousing		1.2			3.9			(6.0	)		4.4			3.4			(0.1	)		0.3
Information and Cultural (incl. Telecommunications)		0.3			0.9			1.4			2.0			0.4			1.8			2.1
Finance and Insurance		4.7			(2.0	)		(2.1	)		2.3			3.3			2.2			4.2
Real Estate and Leasing		2.7			1.5			2.4			2.4			3.2			2.3			2.3
Professional and Administrative Services		4.1			0.0			(4.1	)		1.5			2.5			1.5			1.6
Management of Companies and Enterprises		9.8			8.8			(1.1	)		(2.9	)		0.6			(0.5	)		1.1
Education		3.3			3.5			2.0			2.4			(0.3	)		1.8			2.6
Health Care and Social Services		3.8			3.0			2.1			0.8			1.9			1.7			1.4
Arts, Entertainment and Recreation		2.3			0.0			1.2			(3.5	)		(2.9	)		(1.8	)		2.5
Accommodation and Food		0.6			1.5			0.8			(0.6	)		2.9			3.1			3.0
Other Services		3.6			2.6			(1.1	)		(2.7	)		0.8			(0.4	)		3.6
Public Administration		2.7			4.5			3.7			3.1			1.7			0.0			(0.1	)
Total Production		1.5			(0.2	)		(3.2	)		3.4			2.4			1.6			1.2

¹  See Table 8 for detailed manufacturing industries.

Source: Statistics Canada.

53

Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2000–2013	Table 7
	($2007 Chained Millions)
	2000		2001			2002		2003		2004		2005		2006
Manufacturing		97,938		93,025			95,364		95,411		95,664		95,914		93,630
Food, Beverage and Tobacco Products		12,039		12,210			11,812		11,705		11,955		12,480		12,443
Textile, Clothing and Leather Products		—		—			—		—		—		—		—
Wood Products and Furniture		5,045		5,140			5,213		4,828		4,974		4,711		4,569
Paper Products and Printing		6,858		7,170			7,066		6,937		6,870		6,998		6,381
Chemical and Petroleum Products		8,760		9,577			10,260		10,416		9,785		8,703		8,880
Plastic and Rubber Products		5,460		5,192			5,582		5,579		5,512		5,595		5,315
Primary Metal and Fabricated Metal Products		14,426		13,993			15,060		15,137		14,681		14,845		14,373
Machinery		7,589		7,010			7,067		6,897		6,844		6,589		6,379
Electrical and Electronic Products		9,395		7,298			6,810		6,416		7,245		7,375		7,234
Transportation Equipment		21,422		19,232			20,035		20,937		21,409		22,350		21,862
Other Manufacturing		4,106		4,257			4,424		4,476		4,568		4,626		4,735
Table 7 (continued)	($2007 Chained Millions)
	2007		2008			2009		2010		2011		2012		2013
Manufacturing		88,878		81,743			67,991		72,842		74,698		76,225		75,013
Food, Beverage and Tobacco Products		11,551		11,734			11,484		11,522		11,112		11,094		11,371
Textile, Clothing and Leather Products		1,287		1,107			950		940		942		890		841
Wood Products and Furniture		4,204		3,812			2,896		2,960		2,837		2,886		3,012
Paper Products and Printing		6,147		5,927	��		4,868		4,839		4,790		4,671		4,639
Chemical and Petroleum Products		8,487		8,182			7,639		7,753		7,677		8,049		7,851
Plastic and Rubber Products		5,140		4,589			3,637		3,889		4,110		4,272		4,465
Primary Metal and Fabricated Metal Products		13,624		12,095			8,661		10,267		11,055		11,190		11,000
Machinery		6,343		6,053			4,865		4,755		5,483		5,474		5,166
Electrical and Electronic Products		6,656		6,786			6,510		6,618		6,423		5,377		4,869
Transportation Equipment		20,851		17,007			12,560		15,477		16,392		18,797		17,878
Other Manufacturing		4,589		4,415			3,802		3,953		4,109		3,883		4,238

Source: Statistics Canada.

54

Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, Annual Change, 2000–2013	Table 8
	(Per Cent Change)
	2000			2001			2002			2003			2004			2005			2006
Manufacturing		8.2			(5.0	)		2.5			0.0			0.3			0.3			(2.4	)
Food, Beverage and Tobacco Products		1.0			1.4			(3.3	)		(0.9	)		2.1			4.4			(0.3	)
Textile, Clothing and Leather Products		—			—			—			—			—			—			—
Wood Products and Furniture		18.0			1.9			1.4			(7.4	)		3.0			(5.3	)		(3.0	)
Paper Products and Printing		15.0			4.5			(1.5	)		(1.8	)		(1.0	)		1.9			(8.8	)
Chemical and Petroleum Products		(0.8	)		9.3			7.1			1.5			(6.1	)		(11.1	)		2.0
Plastic and Rubber Products		15.6			(4.9	)		7.5			(0.1	)		(1.2	)		1.5			(5.0	)
Primary Metal and Fabricated Metal Products		12.5			(3.0	)		7.6			0.5			(3.0	)		1.1			(3.2	)
Machinery		17.0			(7.6	)		0.8			(2.4	)		(0.8	)		(3.7	)		(3.2	)
Electrical and Electronic Products		21.8			(22.3	)		(6.7	)		(5.8	)		12.9			1.8			(1.9	)
Transportation Equipment		(2.4	)		(10.2	)		4.2			4.5			2.3			4.4			(2.2	)
Other Manufacturing		12.0			3.7			3.9			1.2			2.1			1.3			2.4
		2007			2008			2009			2010			2011			2012			2013
Table 8 (continued)	(Per Cent Change)
Manufacturing		(5.1	)		(8.0	)		(16.8	)		7.1			2.5			2.0			(1.6	)
Food, Beverage and Tobacco Products		(7.2	)		1.6			(2.1	)		0.3			(3.6	)		(0.2	)		2.5
Textile, Clothing and Leather Products		—			(14.0	)		(14.2	)		(1.1	)		0.2			(5.5	)		(5.5	)
Wood Products and Furniture		(8.0	)		(9.3	)		(24.0	)		2.2			(4.2	)		1.7			4.3
Paper Products and Printing		(3.7	)		(3.6	)		(17.9	)		(0.6	)		(1.0	)		(2.5	)		(0.7	)
Chemical and Petroleum Products		(4.4	)		(3.6	)		(6.6	)		1.5			(1.0	)		4.8			(2.5	)
Plastic and Rubber Products		(3.3	)		(10.7	)		(20.7	)		6.9			5.7			3.9			4.5
Primary Metal and Fabricated Metal Products		(5.2	)		(11.2	)		(28.4	)		18.5			7.7			1.2			(1.7	)
Machinery		(0.6	)		(4.6	)		(19.6	)		(2.3	)		15.3			(0.2	)		(5.6	)
Electrical and Electronic Products		(8.0	)		2.0			(4.1	)		1.6			(2.9	)		(16.3	)		(9.5	)
Transportation Equipment		(4.6	)		(18.4	)		(26.1	)		23.2			5.9			14.7			(4.9	)
Other Manufacturing		(3.1	)		(3.8	)		(13.9	)		4.0			4.0			(5.5	)		9.1

Source: Statistics Canada.

55

Ontario, Housing Market Indicators, 2000–2013	Table 9
	2000			2001			2002			2003			2004			2005			2006
New Housing Market
Residential Construction, Current $ Millions		21,619			24,524			28,196			30,048			33,525			35,519			37,316
Per Cent Change		10.1			13.4			15.0			6.6			11.6			5.9			5.1
Real Residential Construction ($2007 Millions)		29,589			32,515			35,722			36,190			38,017			38,646			38,979
Per Cent Change		7.0			9.9			9.9			1.3			5.0			1.7			0.9
Housing Starts (Units)		71,521			73,282			83,597	��		85,180			85,114			78,795			73,417
Per Cent Change		6.4			2.5			14.1			1.9			(0.1	)		(7.4	)		(6.8	)
Of which: Single-detached, urban areas (Units)		35,555			34,861			44,980			40,849			41,101			33,655			30,369
Per Cent Change		5.5			(2.0	)		29.0			(9.2	)		0.6			(18.1	)		(9.8	)
Multiple, urban areas (Units)		31,868			35,401			34,635			40,082			38,795			39,522			37,411
Per Cent Change		9.0			11.1			(2.2	)		15.7			(3.2	)		1.9			(5.3	)
New Housing Price Index (2007 = 100)		76.1			78.5			81.4			85.0			89.8			93.9			97.4
Per Cent Change		3.1			3.1			3.7			4.4			5.7			4.6			3.7
Resale Market
Home Resales (Units)		147,278			162,431			178,243			184,610			197,481			198,326			196,405
Per Cent Change		(0.9	)		10.3			9.7			3.6			7.0			0.4			(1.0	)
Average Resale Price ($)		183,832			193,377			210,921			226,854			245,277			262,450			277,589
Per Cent Change		5.6			5.2			9.1			7.6			8.1			7.0			5.8

56

Table 9 (continued)
	2007			2008			2009			2010			2011			2012			2013
New Housing Market
Residential Construction, Current $ Millions		39,987			39,470			37,441			41,755			44,867			48,800			48,762
Per Cent Change		7.2			(1.3	)		(5.1	)		11.5			7.5			8.8			(0.1	)
Real Residential Construction ($2007 Millions)		39,987			38,368			35,909			38,719			40,165			42,035			41,087
Per Cent Change		2.6			(4.0	)		(6.4	)		7.8			3.7			4.7			(2.3	)
Housing Starts (Units)		68,123			75,076			50,370			60,433			67,821			76,742			61,085
Per Cent Change		(7.2	)		10.2			(32.9	)		20.0			12.2			13.2			(20.4	)
Of which: Single-detached, urban areas (Units)		30,690			25,760			18,425			23,256			22,783			21,449			19,356
Per Cent Change		1.1			(16.1	)		(28.5	)		26.2			(2.0	)		(5.9	)		(9.8	)
Multiple, urban areas (Units)		32,084			46,164			29,513			33,847			42,458			52,965			39,259
Per Cent Change		(14.2	)		43.9			(36.1	)		14.7			25.4			24.7			(25.9	)
New Housing Price Index (2007 = 100)		100.0			103.5			103.6			106.1			109.9			114.4			116.8
Per Cent Change		2.6			3.5			0.1			2.4			3.6			4.1			2.1
Resale Market
Home Resales (Units)		214,843			182,349			197,011			196,662			201,515			197,620			198,675
Per Cent Change		9.4			(15.1	)		8.0			(0.2	)		2.5			(1.9	)		0.5
Average Resale Price ($)		298,707			301,375			317,490			341,425			365,132			384,455			402,547
Per Cent Change		7.6			0.9			5.3			7.5			6.9			5.3			4.7

Sources: Statistics Canada, Canada Mortgage and Housing Corporation and Canadian Real Estate Association.

57

Selected Financial Indicators, 2000–2013	Table 10
	(Per Cent)
	2000		2001		2002		2003		2004		2005		2006
Interest Rates
Bank Rate		5.8		4.3		2.7		3.2		2.5		2.9		4.3
Prime Rate		7.3		5.8		4.2		4.7		4.0		4.4		5.8
10-Year Government Bonds		5.9		5.5		5.3		4.8		4.6		4.1		4.2
Three-month T-Bills		5.4		3.7		2.6		2.9		2.2		2.7		4.0
Mortgage Rates
5-Year Rate		8.4		7.4		7.0		6.4		6.2		6.0		6.7
1-Year Rate		7.9		6.1		5.2		4.8		4.6		5.1		6.3
Canadian Household Debt Burden1
Consumer		31.2		31.6		33.1		35.4		37.6		39.8		40.4
Mortgage		64.3		65.7		68.1		71.2		74.4		77.9		80.3
Bank Loans		9.4		8.5		8.2		8.8		9.1		9.4		9.5
Other Loans		1.8		2.4		2.4		2.3		1.5		1.8		1.8
Total		106.7		108.3		111.8		117.7		122.5		129.0		132.1

Table 10 (continued)	(Per Cent)
	2007		2008		2009		2010		2011		2012		2013
Interest Rates
Bank Rate		4.6		3.2		0.6		0.9		1.3		1.3		1.3
Prime Rate		6.1		4.7		2.4		2.6		3.0		3.0		3.0
10-Year Government Bonds		4.3		3.6		3.3		3.2		2.8		1.9		2.3
Three-month T-Bills		4.1		2.3		0.3		0.6		0.9		0.9		1.0
Mortgage Rates
5-Year Rate		7.1		7.1		5.6		5.6		5.4		5.3		5.2
1-Year Rate		6.9		6.7		4.0		3.5		3.5		3.2		3.1
Canadian Household Debt Burden1
Consumer		42.1		44.4		48.0		47.2		47.3		46.5		46.6
Mortgage		86.0		90.8		95.0		97.9		101.2		103.0		105.0
Bank Loans		10.2		10.3		10.9		10.4		10.1		10.8		10.2
Other Loans		1.9		2.1		2.1		2.2		2.3		2.1		2.2
Total		140.2		147.5		155.9		157.7		161.0		162.4		163.9

¹  Debt of the persons and unincorporated business sector as a share of household disposable income.

Note: All data are annual averages, except Canadian Household Debt Burden (year-end).

Sources: Statistics Canada’s National Balance Sheet Accounts and Bank of Canada.

58

Ontario and the G20, Real Gross Domestic Product, Annual Change, 2000–2013	Table 11
	(Per Cent)
	2000			2001			2002			2003			2004		2005		2006
Ontario		6.3			1.8			3.2			1.3			2.9		3.1		1.9
Canada		5.1			1.7			2.8			1.9			3.1		3.2		2.6
Argentina		(0.8	)		(4.4	)		(10.9	)		9.0			8.9		9.2		8.4
Australia		3.1			2.6			3.9			3.0			4.1		3.1		2.7
Brazil		4.3			1.3			2.7			1.1			5.7		3.2		4.0
China		8.4			8.3			9.1			10.0			10.1		11.3		12.7
European Union		4.0			2.2			1.4			1.6			2.7		2.3		3.6
France		3.9			2.0			1.1			0.8			2.8		1.6		2.4
Germany		3.3			1.6			0.0			(0.4	)		0.7		0.9		3.9
India		3.8			4.8			3.8			7.9			7.9		9.3		9.3
Indonesia		4.2			3.6			4.5			4.8			5.0		5.7		5.5
Italy		3.7			1.9			0.5			0.0			1.7		0.9		2.2
Japan		2.3			0.4			0.3			1.7			2.4		1.3		1.7
Mexico		5.3			(0.6	)		0.1			1.4			4.3		3.0		5.0
Russia		10.0			5.1			4.7			7.3			7.2		6.4		8.2
Saudi Arabia		4.9			0.5			0.1			7.7			5.3		7.3		5.6
South Africa		4.2			2.7			3.7			2.9			4.6		5.3		5.6
South Korea		8.8			4.5			7.4			2.9			4.9		3.9		5.2
Turkey		6.8			(5.7	)		6.2			5.3			9.4		8.4		6.9
United Kingdom		4.4			2.2			2.3			3.9			3.2		3.2		2.8
United States		4.1			1.0			1.8			2.8			3.8		3.3		2.7

59

Table 11 (continued)	Ontario and the G20, Real GDP, Annual Growth, 2000–2013
	(Per Cent)
	2007		2008			2009			2010		2011			2012			2013
Ontario		1.3		(0.1	)		(3.1	)		3.4		2.6			1.7			1.3
Canada		2.0		1.2			(2.7	)		3.4		3.0			1.9			2.0
Argentina		8.0		3.1			0.1			9.1		8.6			0.9			2.9
Australia		4.5		2.7			1.5			2.2		2.6			3.6			2.3
Brazil		6.1		5.2			(0.3	)		7.5		2.7			1.0			2.5
China		14.2		9.6			9.2			10.4		9.3			7.7			7.7
European Union		3.4		0.7			(4.4	)		2.0		1.8			(0.3	)		0.2
France		2.4		0.2			(2.9	)		2.0		2.1			0.3			0.3
Germany		3.4		0.8			(5.1	)		3.9		3.4			0.9			0.5
India		9.8		3.9			8.5			10.3		6.6			4.7			5.0
Indonesia		6.3		6.0			4.6			6.2		6.5			6.3			5.8
Italy		1.7		(1.2	)		(5.5	)		1.7		0.5			(2.4	)		(1.9	)
Japan		2.2		(1.0	)		(5.5	)		4.7		(0.5	)		1.5			1.5
Mexico		3.1		1.4			(4.7	)		5.1		4.0			4.0			1.1
Russia		8.5		5.2			(7.8	)		4.5		4.3			3.4			1.3
Saudi Arabia		6.0		8.4			1.8			7.4		8.6			5.8			4.0
South Africa		5.5		3.6			(1.5	)		3.1		3.6			2.5			1.9
South Korea		5.5		2.8			0.7			6.5		3.7			2.3			3.0
Turkey		4.7		0.7			(4.8	)		9.2		8.8			2.1			4.1
United Kingdom		3.4		(0.8	)		(5.2	)		1.7		1.1			0.3			1.7
United States		1.8		(0.3	)		(2.8	)		2.5		1.6			2.3			2.2

Sources: International Monetary Fund, U.S. Bureau of Economic Analysis, Ontario Ministry of Finance and Statistics Canada.

60

Ontario and the G20, Employment, Annual Change, 2000–2013	Table 12
	(Per Cent)
	2000			2001			2002			2003			2004			2005			2006
Ontario		3.2			1.8			1.8			3.0			1.5			1.0			1.2
Canada		2.5			1.2			2.4			2.4			1.7			1.3			1.8
Argentina		0.1			(1.3	)		4.5			3.9			6.1			2.9			3.6
Australia		2.6			1.3			1.9			2.3			1.7			3.4			2.5
Brazil		4.3			0.7			3.1			4.0			2.9			2.6			1.9
China		1.0			1.0			0.8			0.6			0.7			0.6			0.5
European Union		2.9			0.8			(0.1	)		0.4			0.6			1.0			1.6
France		2.5			1.8			1.2			0.1			0.1			0.9			0.4
Germany		0.7			0.6			(0.7	)		(1.0	)		(1.3	)		2.3			2.6
India		2.4			2.3			2.3			2.3			2.2			2.2			2.1
Indonesia		1.1			1.1			0.9			(0.9	)		3.2			1.1			1.2
Italy		1.9			2.5			1.4			0.8			1.4			0.7			1.8
Japan		(0.2	)		(0.5	)		(1.3	)		(0.2	)		0.2			0.4			0.5
Mexico		(0.9	)		0.4			1.5			1.5			2.1			4.0			2.7
Russia		3.5			0.2			2.3			(0.5	)		1.5			1.4			1.3
Saudi Arabia		4.9			4.4			6.1			7.3			6.9			5.6			4.6
South Africa		2.5			(2.5	)		(1.6	)		(1.2	)		1.7			5.5			4.4
South Korea		4.3			2.0			2.8			(0.1	)		1.9			1.3			1.3
Turkey		(2.3	)		0.0			(0.3	)		(0.8	)		2.0			(7.4	)		1.5
United Kingdom		1.2			0.8			0.8			0.9			1.1			1.0			0.9
United States		2.2			0.0			(1.1	)		(0.2	)		1.1			1.7			1.8

61

Table 12 (continued)	Ontario and the G20, Employment, Annual Change, 2000–2013
	(Per Cent)
	2007		2008			2009			2010			2011			2012			2013
Ontario		1.8		1.6			(2.5	)		1.7			1.8			0.8			1.4
Canada		2.4		1.7			(1.6	)		1.4			1.6			1.2			1.3
Argentina		2.3		1.1			0.6			1.6			2.3			0.6			0.5
Australia		3.1		2.8			0.7			2.0			1.7			1.2			1.0
Brazil		2.6		3.4			0.7			3.5			2.1			2.2			0.7
China		0.5		0.4			0.3			0.4			0.4			0.4			0.4
European Union		1.8		1.0			(1.8	)		(0.7	)		0.3			(0.2	)		(0.3	)
France		2.3		1.3			(0.9	)		0.0			0.4			0.0			(0.2	)
Germany		2.0		1.5			(0.2	)		0.7			2.6			0.9			0.9
India		2.1		2.1			2.0			2.0			1.9	*		1.8	*		1.6	*
Indonesia		3.9		3.3			2.4			3.4			2.3			2.4			1.0
Italy		1.0		0.8			(1.6	)		(0.6	)		0.4			(0.3	)		(2.1	)
Japan		0.6		(0.3	)		(1.5	)		(0.3	)		(0.1	)		(0.3	)		0.7
Mexico		2.1		2.0			0.7			2.8			2.2			3.3			1.1
Russia		2.2		0.3			(2.1	)		0.7			1.3			1.0			(0.2	)
Saudi Arabia		3.2		3.2			1.6	*		3.2	*		3.5	*		3.8	*		3.3	*
South Africa		0.8		4.9			(2.7	)		(2.8	)		2.0			2.5			3.1
South Korea		1.2		0.6			(0.3	)		1.4			1.7			1.8			1.6
Turkey		1.4		2.0			0.1			6.0			6.4			2.9			2.8
United Kingdom		0.7		0.7			(1.6	)		0.2			0.5			1.2			1.3
United States		1.1		(0.6	)		(4.3	)		(0.7	)		1.2			1.7			1.7

* Oxford Economics estimate.

Sources: International Monetary Fund, Oxford Economics, U.S. Bureau of Labor Statistics and Statistics Canada.

62

Ontario and the G20, Unemployment Rates, 2000–2013	Table 13
	(Per Cent)
	2000		2001		2002		2003		2004		2005		2006
Ontario		5.7		6.3		7.2		6.9		6.8		6.6		6.3
Canada		6.8		7.2		7.7		7.6		7.2		6.8		6.3
Argentina		17.1		19.2		22.5		17.3		13.6		11.6		10.2
Australia		6.3		6.8		6.4		5.9		5.4		5.1		4.8
Brazil		7.1		11.3		11.7		12.3		11.5		9.8		10.0
China		3.1		3.6		4.0		4.3		4.2		4.2		4.1
European Union		8.9		8.7		9.0		9.1		9.2		9.0		8.2
France		9.5		8.8		8.6		8.6		8.9		8.9		8.9
Germany		8.0		7.9		8.7		9.8		10.5		11.3		10.2
India		9.5		9.2		8.9		8.5		8.2		7.8		7.5
Indonesia		6.1		8.1		9.1		9.5		9.9		11.2		10.3
Italy		10.1		9.1		8.6		8.5		8.0		7.7		6.8
Japan		4.7		5.0		5.4		5.2		4.7		4.4		4.1
Mexico		2.2		2.8		3.0		3.4		3.9		3.6		3.6
Russia		10.6		8.9		8.0		8.6		8.2		7.6		7.2
Saudi Arabia		4.6		4.6		5.3		5.6		5.8		6.1		6.3
South Africa		23.0		26.0		27.8		27.7		25.2		24.7		23.6
South Korea		4.4		4.0		3.3		3.6		3.7		3.7		3.5
Turkey		5.6		7.2		9.0		9.1		8.9		9.5		9.0
United Kingdom		5.5		5.1		5.2		5.0		4.8		4.9		5.5
United States		4.0		4.7		5.8		6.0		5.5		5.1		4.6

63

Table 13 (continued)	Ontario and the G20, Unemployment Rates, 2000–2013
	(Per Cent)
	2007		2008		2009		2010		2011		2012			2013
Ontario		6.4		6.5		9.0		8.7		7.8		7.8			7.5
Canada		6.0		6.1		8.3		8.0		7.4		7.2			7.1
Argentina		8.5		7.9		8.7		7.8		7.2		7.2			7.1
Australia		4.4		4.2		5.6		5.2		5.1		5.2			5.7
Brazil		9.3		7.9		8.1		6.7		6.0		5.5			5.4
China		4.0		4.2		4.3		4.1		4.1		4.1			4.1
European Union		7.2		7.1		9.0		9.6		9.6		10.4			10.8
France		8.0		7.5		9.1		9.3		9.2		9.8			10.3
Germany		8.7		7.5		7.8		7.1		6.0		5.5			5.3
India		7.2		6.8		6.5		6.1		5.8		5.6	*		5.6	*
Indonesia		9.1		8.4		7.9		7.1		6.6		6.1			6.3
Italy		6.1		6.8		7.8		8.4		8.4		10.7			12.2
Japan		3.8		4.0		5.1		5.0		4.6		4.3			4.0
Mexico		3.7		4.0		5.5		5.4		5.2		5.0			4.9
Russia		6.1		6.3		8.4		7.3		6.5		5.5			5.5
Saudi Arabia		5.6		5.2		5.4		5.5		5.8		5.4			5.5
South Africa		23.0		22.5		23.7		24.9		24.8		24.9			24.7
South Korea		3.3		3.2		3.7		3.7		3.4		3.2			3.1
Turkey		9.2		10.0		13.1		11.1		9.1		8.4			9.0
United Kingdom		5.4		5.7		7.7		7.9		8.1		8.0			7.6
United States		4.6		5.8		9.3		9.6		8.9		8.1			7.4

* Oxford Economics estimate.

Note: Labour market data are subject to differences in definitions across countries and to many series breaks, though the latter are often of a minor nature.

Sources: International Monetary Fund, Oxford Economics, U.S. Bureau of Labor Statistics and Statistics Canada.

64

Ontario and the G20, CPI Inflation Rates, 2000–2013	Table 14
	(Per Cent)
	2000			2001			2002			2003			2004		2005			2006
Ontario		2.9			3.0			2.0			2.7			1.9		2.2			1.8
Canada		2.7			2.5			2.2			2.8			1.8		2.2			2.0
Argentina		(0.9	)		(1.1	)		25.9			13.4			4.4		9.6			10.9
Australia		4.5			4.4			3.0			2.7			2.3		2.7			3.6
Brazil		7.0			6.8			8.5			14.7			6.6		6.9			4.2
China		0.4			0.7			(0.8	)		1.2			3.9		1.8			1.5
European Union		3.3			3.1			2.6			2.2			2.4		2.3			2.3
France		1.8			1.8			1.9			2.2			2.3		1.9			1.9
Germany		1.4			1.9			1.3			1.0			1.8		1.9			1.8
India		3.8			4.3			4.0			3.9			3.8		4.4			7.0
Indonesia		3.8			11.5			11.8			6.8			6.1		10.5			13.1
Italy		2.6			2.3			2.6			2.8			2.3		2.2			2.2
Japan		(0.7	)		(0.8	)		(0.9	)		(0.3	)		0.0		(0.3	)		0.2
Mexico		9.5			6.4			5.0			4.6			4.7		4.0			3.6
Russia		20.8			21.5			15.8			13.7			10.9		12.7			9.7
Saudi Arabia		(1.1	)		(1.3	)		0.1			0.5			0.3		0.5			1.9
South Africa		5.4			5.7			9.2			5.8			1.4		3.4			4.7
South Korea		2.3			4.1			2.8			3.5			3.6		2.8			2.2
Turkey		55.0			54.2			45.1			25.3			8.6		8.2			9.6
United Kingdom		0.8			1.2			1.3			1.4			1.3		2.1			2.3
United States		3.4			2.8			1.6			2.3			2.7		3.4			3.2

65

Table 14 (continued)	Ontario and the G20, CPI Inflation Rates, 2000–2013
	(Per Cent)
	2007		2008		2009			2010			2011			2012		2013
Ontario		1.8		2.3		0.4			2.5			3.1			1.4		1.0
Canada		2.2		2.3		0.3			1.8			2.9			1.5		0.9
Argentina		8.8		8.6		6.3			10.5			9.8			10.0		10.6
Australia		2.3		4.4		1.8			2.9			3.3			1.8		2.5
Brazil		3.6		5.7		4.9			5.0			6.6			5.4		6.2
China		4.8		5.9		(0.7	)		3.3			5.4			2.6		2.6
European Union		2.4		3.7		0.9			2.0			3.1			2.6		1.5
France		1.6		3.2		0.1			1.7			2.3			2.2		1.0
Germany		2.3		2.7		0.2			1.2			2.5			2.1		1.6
India		5.9		9.2		10.6			9.5			9.5			10.2		9.5
Indonesia		6.7		9.8		5.0			5.1			5.3			4.0		6.4
Italy		2.0		3.5		0.8			1.6			2.9			3.3		1.3
Japan		0.1		1.4		(1.3	)		(0.7	)		(0.3	)		0.0		0.4
Mexico		4.0		5.1		5.3			4.2			3.4			4.1		3.8
Russia		9.0		14.1		11.7			6.9			8.4			5.1		6.8
Saudi Arabia		5.0		6.1		4.1			3.8			3.7			2.9		3.5
South Africa		7.1		11.5		7.1			4.3			5.0			5.7		5.8
South Korea		2.5		4.7		2.8			2.9			4.0			2.2		1.3
Turkey		8.8		10.4		6.3			8.6			6.5			8.9		7.5
United Kingdom		2.3		3.6		2.2			3.3			4.5			2.8		2.6
United States		2.8		3.8		(0.4	)		1.6			3.1			2.1		1.5

Sources: International Monetary Fund, U.S. Bureau of Labor Statistics and Statistics Canada.

66

Ontario, International Merchandise Exports1 by Major Commodity2, 2013		Table 15
		Value ($ Millions)		Annual Change (Per Cent)			Per Cent of Total
1	Motor vehicles and parts		56,082		(0.7	)		34.2
2	Precious metals and stones		20,362		7.1			12.4
3	Mechanical equipment		14,387		(3.7	)		8.8
4	Electrical machinery		6,259		(3.3	)		3.8
5	Plastic products		5,850		3.7			3.6
6	Iron and steel		4,370		(4.8	)		2.7
7	Pharmaceutical products		3,687		12.9			2.2
8	Nickel and articles thereof		3,356		(7.8	)		2.0
9	Oils and other petroleum products		2,939		(8.1	)		1.8
10	Furniture and accessories		2,923		1.5			1.8
11	Scientific, photo and med equipment		2,636		1.0			1.6
12	Iron and steel products		2,401		(6.5	)		1.5
13	Cereal and baked products		2,344		8.7			1.4
14	Aircraft and parts		2,330		(18.7	)		1.4
15	Inorganic chemicals		2,079		25.2			1.3
16	Organic chemicals		2,022		(0.7	)		1.2
17	Paper products		1,933		(1.6	)		1.2
18	Rubber products		1,845		(1.5	)		1.1
19	Aluminium and articles		1,764		(3.2	)		1.1
20	Miscellaneous chemical products		1,451		(0.9	)		0.9
21	Wood products		1,117		30.6			0.7
22	Seeds and miscellaneous grains		1,077		(3.8	)		0.7
23	Vegetables		1,015		23.5			0.6
24	Perfumes and cosmetics		979		5.4			0.6
25	Meat		912		7.3			0.6
	All other commodities		17,933		6.1			10.9
	Total Exports		164,050		0.9			100.0

¹  International merchandise exports exclude re-exports and are reported on a customs basis.

²  Product groupings based on two-digit Harmonized System codes.

Sources: Statistics Canada and Ontario Ministry of Finance.

67

Ontario, International Merchandise Imports by Major Commodity1, 2013		Table 16
		Value ($ Millions)		Annual Change (Per Cent)			Per Cent of Total
1	Motor vehicles and parts		58,165		4.7			21.7
2	Mechanical equipment		38,186		0.6			14.2
3	Electrical machinery		31,525		4.0			11.8
4	Precious metals and stones		11,910		(9.3	)		4.4
5	Plastic products		9,963		4.3			3.7
6	Pharmaceutical products		9,930		0.7			3.7
7	Scientific, photo and med equipment		8,865		2.8			3.3
8	Furniture and accessories		5,114		2.2			1.9
9	Iron and steel products		5,036		(1.7	)		1.9
10	Iron and steel		4,802		(6.6	)		1.8
11	Oils and other petroleum products		4,392		(23.0	)		1.6
12	Organic chemicals		3,874		6.4			1.4
13	Paper products		3,533		5.3			1.3
14	Rubber products		3,476		(1.5	)		1.3
15	Miscellaneous chemical products		2,628		5.4			1.0
16	Aluminium and articles		2,535		3.4			0.9
17	Perfumes and cosmetics		2,444		8.4			0.9
18	Fruit and nuts		2,436		8.4			0.9
19	Toys and sporting goods		2,339		3.2			0.9
20	Books and printed material		2,098		(1.0	)		0.8
21	Beverages		2,056		8.1			0.8
22	Cereal and baked products		1,991		7.0			0.7
23	Meat		1,957		(0.5	)		0.7
24	Non-knitted clothes		1,950		10.1			0.7
25	Knitted clothes		1,883		13.9			0.7
	All other commodities		43,106		6.2			16.1
	Domestic Imports		266,196		2.4			99.3
	Re-imports2		1,876		3.6			0.7
	Total Imports		268,071		2.4			100.0

¹ Product groupings based on two-digit Harmonized System codes. Data are reported on a customs basis.

²  These are goods re-entering (returned to) Ontario after having been exported abroad without having been materially altered or enhanced in value while abroad.

Sources: Statistics Canada and Ontario Ministry of Finance.

68

Ontario, International Merchandise Exports1 by Top 25 Trading Partners, 2013		Table 17
		Exports ($ Millions)		Annual Change (Per Cent)			Per Cent of Total
1	United States		128,757		1.6			78.5
2	United Kingdom		10,453		(28.7	)		6.4
3	Hong Kong		3,880		161.2			2.4
4	China		2,156		9.8			1.3
5	Mexico		1,933		5.6			1.2
6	Norway		1,732		(12.0	)		1.1
7	Japan		1,538		42.7			0.9
8	Germany		1,395		18.2			0.9
9	Switzerland		1,361		154.1			0.8
10	France		714		(12.1	)		0.4
11	United Arab Emirates		707		213.5			0.4
12	Italy		683		58.0			0.4
13	Netherlands		626		(24.2	)		0.4
14	Australia		510		(25.3	)		0.3
15	South Korea		464		3.9			0.3
16	Saudi Arabia		446		(37.0	)		0.3
17	Belgium		410		(9.0	)		0.2
18	Brazil		384		(15.2	)		0.2
19	India		372		(12.7	)		0.2
20	Singapore		282		11.2			0.2
21	Thailand		250		51.8			0.2
22	Russian Federation		227		(39.7	)		0.1
23	Chile		205		7.9			0.1
24	Taiwan		203		(13.5	)		0.1
25	Ireland		191		45.9			0.1
	All other countries		4,174		(5.0	)		2.5
	Total		164,050		0.9			100.0

¹  International merchandise exports exclude re-exports and are reported on a customs basis.

Sources: Statistics Canada and Ontario Ministry of Finance.

69

Ontario, International Merchandise Imports1 by Top 25 Trading Partners, 2013		Table 18
		Imports ($ Millions)		Annual Change (Per Cent)			Per Cent of Total
1	United States		150,835		2.3			56.3
2	China		29,800		5.2			11.1
3	Mexico		20,138		2.9			7.5
4	Japan		8,976		(10.3	)		3.3
5	Germany		7,299		7.8			2.7
6	South Korea		5,265		22.2			2.0
7	Switzerland		3,090		7.8			1.2
8	Italy		2,812		8.0			1.0
9	United Kingdom		2,663		(13.7	)		1.0
10	Taiwan		2,580		4.2			1.0
11	Peru		2,300		(20.5	)		0.9
12	France		2,076		11.8			0.8
13	Thailand		1,573		0.5			0.6
14	Argentina		1,523		(18.0	)		0.6
15	Malaysia		1,522		(0.3	)		0.6
16	India		1,451		(3.6	)		0.5
17	Brazil		1,293		(4.9	)		0.5
18	Dominican Republic		1,118		558.1			0.4
19	Vietnam		1,045		37.3			0.4
20	Sweden		960		(7.6	)		0.4
21	Belgium		935		54.0			0.3
22	Ireland		881		12.6			0.3
23	Netherlands		856		5.3			0.3
24	Chile		806		(21.0	)		0.3
25	Spain		802		(10.1	)		0.3
	All other countries		13,598		(1.3	)		5.8
	Domestic imports		266,196		2.4			99.3
	Re-imports		1,876		3.6			0.7
	Total		268,071		2.4			100.0

¹  Data reported on a customs basis. Domestic imports exclude re-imports. Total imports are the sum of domestic imports and re-imports.

Sources: Statistics Canada and Ontario Ministry of Finance.

70

Ontario, Selected Demographic Characteristics, 2006–20141	Table 19
	2006		2007		2008		2009		2010		2011		2012		2013		2014
Total Population (000s)		12,662		12,764		12,883		12,998		13,135		13,264		13,410		13,551		13,679
Annual Average Growth Over Preceding Year (%)		1.1		0.8		0.9		0.9		1.1		1.0		1.1		1.1		0.9
Median Age (Years)		38.4		38.7		39.0		39.3		39.6		39.8		40.0		40.2		40.4
Age Group Shares (%)
0–4		5.5		5.4		5.4		5.4		5.4		5.4		5.3		5.3		5.2
5–14		12.3		12.1		11.9		11.7		11.4		11.2		11.0		10.9		10.8
15–24		13.8		13.8		13.7		13.7		13.7		13.7		13.7		13.6		13.5
25–44		29.4		28.9		28.4		27.8		27.4		27.1		27.0		26.8		26.7
45–64		26.0		26.6		27.2		27.7		28.1		28.4		28.3		28.2		28.2
65–74		6.9		7.0		7.1		7.3		7.4		7.6		8.0		8.4		8.7
75+		6.2		6.3		6.4		6.4		6.5		6.6		6.7		6.8		6.9
Total Fertility Rate2		1.55		1.58		1.60		1.58		1.56		1.55		—		—		—
Life Expectancy at Birth (Years)3
Female		83.0		83.3		83.4		83.7		83.9		—		—		—		—
Male		78.6		78.9		79.1		79.4		79.8		—		—		—		—
Families (000s)4		3,422		—		—		—		—		3,612		—		—		—
Households (000s)4		4,555		—		—		—		—		4,888		—		—		—

¹  Population estimates are for July 1.

²  Calendar-year data.

³  For three-year periods with the reference year as the middle year.

⁴  Families and households are from Census enumeration.

Source: Statistics Canada.

71

Ontario, Components of Population Growth, 2004–05 to 2013–141	Table 20
	(Thousands)
	2004–05		2005–06		2006–07		2007–08		2008–09
Population at Beginning of Period		12,390		12,528		12,662		12,764		12,883
Births		133		134		137		141		140
Deaths		85		84		87		88		88
Immigrants		130		133		115		115		105
Net Emigrants2		24		25		20		21		18
Net Change in Non-permanent Residents		0		0		2		11		16
Interprovincial Arrivals		59		56		59		62		57
Interprovincial Departures		71		73		79		76		73
Population Growth During Period		138		134		103		118		115
Population at End of Period3		12,528		12,662		12,764		12,883		12,998
Population Growth (%)		1.1		1.1		0.8		0.9		0.9

Table 20 (continued)	(Thousands)
	2009–10		2010–11		2011–12		2012–13		2013–14
Population at Beginning of Period		12,998		13,135		13,264		13,410		13,551
Births		140		139		140		141		142
Deaths		88		91		90		93		97
Immigrants		117		105		101		106		102
Net Emigrants2		15		15		16		17		17
Net Change in Non-permanent Residents		13		15		23		18		11
Interprovincial Arrivals		60		58		60		55		68
Interprovincial Departures		64		62		71		69		82
Population Growth During Period		137		128		147		141		128
Population at End of Period3		13,135		13,264		13,410		13,551		13,679
Population Growth (%)		1.1		1.0		1.1		1.1		0.9

¹  Data are from July 1 to June 30 (Census year).

²  Net Emigrants = Emigrants plus net change in temporary emigrants minus returning emigrants.

³  The sum of the components does not equal the total change in population due to residual deviation.

Source: Statistics Canada.

72

Ontario, Labour Force, 2000–2013	Table 21
	2000		2001		2002		2003		2004		2005		2006
Labour Force (000s)		6,169		6,322		6,493		6,675		6,766		6,823		6,884
Annual Labour Force Growth (%)		2.5		2.5		2.7		2.8		1.4		0.8		0.9
Participation Rate (%)
Male		73.3		73.4		73.7		74.2		74.0		73.4		72.6
Female		61.0		61.4		62.0		62.9		62.8		62.4		62.5
Share of Labour Force (%)
Youth (15–24)		16.4		16.3		16.4		16.4		16.3		16.1		16.1
Older Workers (45+)		32.0		32.6		33.5		34.8		35.5		36.3		37.4

Table 21 (continued)
	2007		2008		2009		2010		2011		2012		2013
Labour Force (000s)		7,013		7,133		7,147		7,237		7,302		7,357		7,441
Annual Labour Force Growth (%)		1.9		1.7		0.2		1.2		0.9		0.8		1.1
Participation Rate (%)
Male		72.5		72.7		71.7		71.4		71.4		71.1		70.8
Female		63.2		63.3		62.8		62.9		62.5		62.1		62.2
Share of Labour Force (%)
Youth (15–24)		16.2		16.0		15.5		15.1		15.1		14.6		14.6
Older Workers (45+)		38.2		39.4		40.5		41.4		41.9		42.2		42.4

Source: Statistics Canada.

73

Ontario, Employment, 2000–2013	Table 22
	2000		2001		2002		2003		2004		2005		2006
Total Employment (000s)		5,815		5,921		6,029		6,212		6,308		6,371		6,449
Male		3,122		3,165		3,209		3,299		3,349		3,383		3,401
Female		2,693		2,755		2,819		2,913		2,958		2,989		3,047
Annual Employment Growth (%)		3.2		1.8		1.8		3.0		1.5		1.0		1.2
Net Job Creation (000s)		180		106		108		183		96		63		78
Private-sector Employment (000s)		3,923		4,046		4,111		4,237		4,261		4,309		4,355
Public-sector Employment (000s)		991		995		1,029		1,057		1,105		1,132		1,163
Self-employment (000s)		901		879		889		918		942		930		931
Manufacturing Employment (% of total)		18.4		18.0		18.2		17.7		17.5		16.7		15.5
Services Employment (% of total)		73.0		73.5		73.5		73.6		73.9		74.3		75.4
Part-time (% of total)		18.0		17.9		18.3		18.5		18.2		18.2		17.9
Average Hours Worked Per Week1		38.0		37.5		37.3		36.6		37.1		37.2		36.8

Table 22 (continued)
	2007		2008		2009			2010		2011		2012		2013
Total Employment (000s)		6,564		6,666		6,502			6,610		6,731		6,784		6,879
Male		3,427		3,482		3,349			3,418		3,507		3,531		3,574
Female		3,137		3,184		3,153			3,193		3,225		3,253		3,306
Annual Employment Growth (%)		1.8		1.6		(2.5	)		1.7		1.8		0.8		1.4
Net Job Creation (000s)		116		102		(164	)		108		121		52		96
Private-sector Employment (000s)		4,384		4,389		4,240			4,293		4,352		4,410		4,475
Public-sector Employment (000s)		1,200		1,283		1,251			1,301		1,344		1,331		1,349
Self-employment (000s)		981		995		1,011			1,017		1,036		1,043		1,056
Manufacturing Employment (% of total)		14.4		13.4		12.2			11.8		11.8		11.8		11.3
Services Employment (% of total)		76.5		77.2		78.8			78.9		78.9		79.0		79.4
Part-time (% of total)		18.2		18.8		19.5			19.3		19.0		18.9		19.2
Average Hours Worked Per Week1		37.1		36.7		35.9			36.1		36.4		36.5		36.3

¹  Average actual hours worked per week at all jobs, excluding persons not at work, in reference week.

Source: Statistics Canada.

74

Ontario, Unemployment, 2000–2013	Table 23
	2000		2001		2002		2003		2004		2005		2006
Total Unemployment (000s)		354		401		464		462		459		452		435
Unemployment Rate (%)		5.7		6.3		7.2		6.9		6.8		6.6		6.3
Male		5.6		6.5		7.4		7.1		6.9		6.6		6.4
Female		5.9		6.2		6.8		6.7		6.6		6.6		6.3
Toronto CMA1		5.5		6.3		7.4		7.7		7.5		7.0		6.6
Northern Ontario		8.2		8.0		8.2		7.4		7.8		7.0		7.4
Youth (15–24)		11.8		12.6		13.9		14.4		14.2		13.9		13.3
Older Workers (45+)		4.0		4.5		4.7		4.7		4.5		4.7		4.3
Share of Total Unemployment (%)
Long-term Unemployed (27 weeks+)		15.4		12.8		15.5		16.2		15.5		15.1		14.3
Youth (15–24)		33.7		32.2		31.9		34.1		34.1		33.7		33.8
Older Workers (45+)		22.4		22.9		22.2		23.5		23.5		26.0		25.5
Average Duration (weeks)		17.7		15.3		16.4		17.0		16.1		16.0		15.8
Youth (15–24)		9.7		8.6		9.4		9.4		8.8		8.7		8.7
Older Workers (45+)		28.4		25.7		24.5		27.2		24.3		23.9		23.7
Table 23 (continued)
	2007		2008		2009		2010		2011		2012		2013
Total Unemployment (000s)		449		466		645		627		570		574		561
Unemployment Rate (%)		6.4		6.5		9.0		8.7		7.8		7.8		7.5
Male		6.8		6.9		10.3		9.3		8.0		8.2		7.9
Female		6.0		6.1		7.6		8.0		7.6		7.3		7.1
Toronto CMA1		6.8		6.9		9.4		9.1		8.3		8.6		8.2
Northern Ontario		6.9		6.6		8.9		8.4		7.7		7.2		7.4
Youth (15–24)		13.0		13.7		17.5		17.2		15.8		16.9		16.1
Older Workers (45+)		4.5		4.9		6.7		6.6		5.9		5.8		5.6
Share of Total Unemployment (%)
Long-term Unemployed (27 weeks+)		13.0		13.3		18.3		25.1		23.9		22.1		23.2
Youth (15–24)		32.9		33.7		30.1		30.0		30.5		31.7		31.1
Older Workers (45+)		27.0		29.5		29.9		31.7		31.5		31.2		31.6
Average Duration (weeks)		14.6		14.6		18.2		22.1		22.1		21.8		21.8
Youth (15–24)		8.1		8.3		10.9		11.5		12.2		12.6		12.8
Older Workers (45+)		22.4		21.2		26.5		31.5		33.1		31.5		29.6

¹  CMA is Census Metropolitan Area. Toronto CMA includes the city of Toronto; the regions of York, Peel and Halton (excluding Burlington); Uxbridge, Pickering, Ajax, Mono, Orangeville, New Tecumseth and Bradford West Gwillimbury.

Source: Statistics Canada.

75

Employment Insurance (EI) and Social Assistance, 2000–2013	Table 24
	2000		2001		2002		2003		2004		2005		2006
EI Regular Beneficiaries (000s)
Ontario		101		122		136		142		136		132		129
Canada		486		521		556		564		541		516		494
EI Total Benefit Payments ($ Millions)
Ontario		2,787		3,524		4,328		4,342		4,429		4,325		4,421
Canada		11,154		13,002		14,683		14,951		14,970		14,693		14,499
EI Contributions ($ Millions)
Ontario1		7,671		7,477		7,384		7,219		6,895		7,108		6,975
Canada2		18,751		18,344		18,213		17,833		17,172		17,830		16,949
EI Premium Rate3 (% insured earnings)
Employer		3.36		3.15		3.08		2.94		2.77		2.73		2.62
Employee		2.40		2.25		2.20		2.10		1.98		1.95		1.87
Social Assistance Caseload (000s)4		436		408		411		413		418		431		443
Table 24 (continued)
	2007		2008		2009		2010		2011		2012		2013
EI Regular Beneficiaries (000s)
Ontario		131		143		247		216		175		159		155
Canada		479		486		734		684		583		535		503
EI Total Benefit Payments ($ Millions)
Ontario		4,685		4,937		7,955		7,259		6,049		5,853		5,718
Canada		14,562		15,033		21,272		20,619		18,247		17,700		17,293
EI Contributions ($ Millions)
Ontario1		6,921		6,718		6,745		6,943		7,343		7,857		8,634
Canada2		17,001		16,663		16,790		17,227		18,221		19,558		21,492
EI Premium Rate3 (% insured earnings)
Employer		2.52		2.42		2.42		2.42		2.49		2.56		2.63
Employee		1.80		1.73		1.73		1.73		1.78		1.83		1.88
Social Assistance Caseload (000s)4		454		469		515		551		575		591		596

¹  Figures for 2010, 2011, 2012 and 2013 are Ontario Ministry of Finance estimates.

²  Figures are reported by Statistics Canada for 1998 to 2009 and by the federal Department of Finance for 2010, 2011, 2012 and 2013.

³  EI premiums are collected on total earnings from the first dollar earned to the maximum insurable earnings.

⁴  Social assistance includes Ontario Works, the Ontario Disability Support Program, Temporary Care Assistance and Assistance for Children with Severe Disabilities and supports to First Nations.

Note: In 2014, the EI maximum weekly benefit is $514, which is 55 per cent of EI maximum insurable earnings of $48,600.

Sources: Statistics Canada, Employment and Social Development Canada, Department of Finance Canada, Ontario Ministry of Finance and Ontario Ministry of Community and Social Services.

76

Ontario, Labour Compensation, 2000–2013	Table 25
	2000		2001			2002			2003			2004			2005		2006
Average Weekly Earnings (AWE) ($)1		—		695.66			710.87			728.38			748.57			775.80		788.25
Increase (%)		—		—			2.2			2.5			2.8			3.6		1.6
CPI Inflation (%)		2.9		3.0			2.0			2.7			1.9			2.2		1.8
AWE Increase Less CPI Inflation (%)2		—		—			0.1			(0.2	)		0.9			1.4		(0.2	)
AWE – Manufacturing ($)		—		870.01			886.23			907.78			935.49			960.74		961.01
Increase (%)		—		—			1.9			2.4			3.1			2.7		0.0
Increase Less CPI Inflation (%)2		—		—			(0.1	)		(0.3	)		1.2			0.5		(1.8	)
Wage Settlement Increases (%)3
All Sectors		2.6		2.9			3.0			3.1			2.9			2.7		2.5
Public		2.7		2.9			2.9			3.5			3.1			2.7		3.0
Private		2.4		2.9			3.0			1.9			2.7			2.4		1.8
Person Days Lost Due to Strikes and Lockouts (000s)		650		672			1,511			495			487			403		395
Minimum Wage at Year-end ($/hour)		6.85		6.85			6.85			6.85			7.15			7.45		7.75
Table 25 (continued)
	2007		2008			2009			2010			2011			2012		2013
Average Weekly Earnings (AWE) ($)1		818.61		837.91			848.85			881.43			893.41			906.09		920.12
Increase (%)		3.9		2.4			1.3			3.8			1.4			1.4		1.5
CPI Inflation (%)		1.8		2.3			0.4			2.5			3.1			1.4		1.0
AWE Increase Less CPI Inflation (%)2		2.0		0.1			1.0			1.4			(1.7	)		0.0		0.5
AWE – Manufacturing ($)		997.21		999.39			949.82			999.34			1,005.84			1,035.64		1,049.51
Increase (%)		3.8		0.2			(5.0	)		5.2			0.7			3.0		1.3
Increase Less CPI Inflation (%)2		2.0		(2.1	)		(5.4	)		2.7			(2.4	)		1.6		0.3
Wage Settlement Increases (%)3
All Sectors		3.0		2.7			2.2			2.0			1.7			1.3		1.0
Public		3.1		3.1			2.4			1.9			1.6			1.4		0.5
Private		2.9		2.0			1.2			2.0			1.9			1.2		2.3
Person Days Lost Due to Strikes and Lockouts (000s)		389		282			1,550			705			352			201		288
Minimum Wage at Year-end ($/hour)		8.0		8.75			9.50			10.25			10.25			10.25		10.25

¹  Average Weekly Earnings (AWE) includes overtime. Data available only from 2001.

²  Numbers may not add due to rounding.

³  Wage settlement increases are for collective agreements covering 200 or more employees for data prior to 2010 and 150+ employees from 2010 onwards, Ontario Ministry of Labour.

Sources: Statistics Canada, Ontario Ministry of Labour and Ontario Ministry of Finance.

77

Ontario, Employment by Occupation, 2002–2013	Table 26
	(Thousands)
	2002		2003		2004		2005		2006		2007
Management		563		586		619		620		655		635
Business, Finance and Administrative		1,120		1,151		1,200		1,168		1,213		1,217
Natural and Applied Sciences		445		447		434		465		464		482
Health		318		330		341		344		353		367
Social Science, Education, Government Service and Religion		470		474		473		540		544		575
Art, Culture, Recreation and Sport		178		191		201		198		198		206
Sales and Service		1,394		1,452		1,432		1,444		1,473		1,581
Trades, Transport and Equipment Operators		866		891		904		910		906		900
Primary Industry		123		130		136		145		156		154
Processing, Manufacturing and Utilities		553		562		570		537		486		448
Total		6,029		6,212		6,308		6,371		6,449		6,564
Table 26 (continued)	(Thousands)
	2008		2009		2010		2011		2012		2013
Management		660		646		636		608		632		613
Business, Finance and Administrative		1,257		1,231		1,235		1,268		1,262		1,293
Natural and Applied Sciences		503		482		519		529		525		531
Health		387		393		395		437		427		440
Social Science, Education, Government Service and Religion		603		630		661		641		658		679
Art, Culture, Recreation and Sport		225		227		236		247		232		247
Sales and Service		1,557		1,541		1,567		1,571		1,621		1,644
Trades, Transport and Equipment Operators		933		880		869		905		906		917
Primary Industry		131		131		135		148		144		137
Processing, Manufacturing and Utilities		410		342		358		379		378		379
Total		6,666		6,502		6,610		6,731		6,784		6,879

Note: Occupational groupings based on National Occupational Classification for Statistics (NOC-S) 2006.

Source: Statistics Canada.

78

Ontario, Distribution of Employment by Occupation, 2002–2013	Table 27
	(Per Cent)
	2002		2003		2004		2005		2006		2007
Management		9.3		9.4		9.8		9.7		10.2		9.7
Business, Finance and Administrative		18.6		18.5		19.0		18.3		18.8		18.5
Natural and Applied Sciences		7.4		7.2		6.9		7.3		7.2		7.3
Health		5.3		5.3		5.4		5.4		5.5		5.6
Social Science, Education, Government Service and Religion		7.8		7.6		7.5		8.5		8.4		8.8
Art, Culture, Recreation and Sport		3.0		3.1		3.2		3.1		3.1		3.1
Sales and Service		23.1		23.4		22.7		22.7		22.8		24.1
Trades, Transport and Equipment Operators		14.4		14.3		14.3		14.3		14.1		13.7
Primary Industry		2.0		2.1		2.2		2.3		2.4		2.4
Processing, Manufacturing and Utilities		9.2		9.0		9.0		8.4		7.5		6.8
Total		100.0		100.0		100.0		100.0		100.0		100.0
Table 27 (continued)	(Per Cent)
	2008		2009		2010		2011		2012		2013
Management		9.9		9.9		9.6		9.0		9.3		8.9
Business, Finance and Administrative		18.9		18.9		18.7		18.8		18.6		18.8
Natural and Applied Sciences		7.5		7.4		7.9		7.9		7.7		7.7
Health		5.8		6.0		6.0		6.5		6.3		6.4
Social Science, Education, Government Service and Religion		9.0		9.7		10.0		9.5		9.7		9.9
Art, Culture, Recreation and Sport		3.4		3.5		3.6		3.7		3.4		3.6
Sales and Service		23.4		23.7		23.7		23.3		23.9		23.9
Trades, Transport and Equipment Operators		14.0		13.5		13.1		13.4		13.3		13.3
Primary Industry		2.0		2.0		2.0		2.2		2.1		2.0
Processing, Manufacturing and Utilities		6.2		5.3		5.4		5.6		5.6		5.5
Total		100.0		100.0		100.0		100.0		100.0		100.0

Note: Occupational groupings based on National Occupational Classification for Statistics (NOC-S) 2006.

Source: Statistics Canada.

79

Ontario, Employment by Industry, 2000–2013	Table 28
	(Thousands)
	2000		2001		2002		2003		2004		2005		2006
Goods Producing Industries		1,569		1,570		1,600		1,638		1,647		1,637		1,589
Primary Industries		131		119		111		111		114		131		138
Manufacturing		1,072		1,067		1,095		1,100		1,104		1,065		1,001
Construction		320		334		342		372		370		393		403
Utilities		46		50		52		54		59		49		48
Services Producing Industries		4,246		4,351		4,429		4,574		4,661		4,734		4,860
Trade		879		932		917		933		962		986		1,006
Transportation and Warehousing		273		278		281		290		301		290		292
Finance, Insurance, Real Estate and Leasing		379		387		392		415		434		448		474
Professional, Scientific and Technical Services		417		439		436		447		435		436		449
Business, Building and Other Support		240		239		252		267		275		280		291
Educational Services		364		355		367		378		389		427		444
Health Care and Social Assistance		542		561		577		607		627		624		635
Information, Culture and Recreation		286		302		299		297		306		299		319
Accommodation and Food Services		340		332		362		365		364		363		375
Public Administration		282		283		297		313		311		321		312
Other Services		244		244		250		263		258		260		263
Total Employment		5,815		5,921		6,029		6,212		6,308		6,371		6,449

80

Table 28 (continued)	Ontario, Employment by Industry, 2000–2013
	(Thousands)
	2007		2008		2009		2010		2011		2012		2013
Goods Producing Industries		1,540		1,522		1,376		1,394		1,421		1,422		1,418
Primary Industries		130		123		120		125		129		131		125
Manufacturing		944		896		791		781		795		801		777
Construction		408		438		409		429		443		434		461
Utilities		57		65		57		59		55		56		55
Services Producing Industries		5,025		5,145		5,126		5,216		5,310		5,362		5,462
Trade		1,020		1,024		1,006		1,011		992		990		1,019
Transportation and Warehousing		301		325		312		304		322		317		332
Finance, Insurance, Real Estate and Leasing		473		473		503		498		501		509		519
Professional, Scientific and Technical Services		474		496		504		545		557		564		571
Business, Building and Other Support		293		297		265		284		289		294		316
Educational Services		466		480		461		489		479		504		517
Health Care and Social Assistance		670		693		705		718		766		762		785
Information, Culture and Recreation		327		309		317		322		346		333		317
Accommodation and Food Services		405		402		389		388		389		416		429
Public Administration		333		366		359		373		390		383		374
Other Services		265		281		307		284		280		291		282
Total Employment		6,564		6,666		6,502		6,610		6,731		6,784		6,879

Note: Industrial groupings based on North American Industry Classification System (NAICS).

Source: Statistics Canada.

81

Ontario, Employment by Industry, Annual Change, 2000–2013	Table 29
	(Per Cent Change)
	2000			2001			2002			2003			2004			2005			2006
Goods Producing Industries		2.5			0.0			1.9			2.4			0.5			(0.6	)		(3.0	)
Primary Industries		(12.1	)		(9.5	)		(6.7	)		0.5			2.8			14.2			5.7
Manufacturing		3.5			(0.4	)		2.6			0.5			0.3			(3.6	)		(6.0	)
Construction		8.1			4.3			2.4			8.8			(0.6	)		6.5			2.4
Utilities		(6.7	)		9.2			4.2			4.4			7.7			(16.9	)		(2.5	)
Services Producing Industries		3.4			2.5			1.8			3.3			1.9			1.6			2.7
Trade		4.5			6.0			(1.7	)		1.8			3.1			2.5			2.1
Transportation and Warehousing		5.7			1.8			0.9			3.4			3.6			(3.5	)		0.7
Finance, Insurance, Real Estate and Leasing		(0.3	)		2.1			1.3			5.9			4.6			3.3			5.8
Professional, Scientific and Technical Services		5.8			5.2			(0.5	)		2.3			(2.5	)		0.2			2.9
Business, Building and Other Support		8.4			(0.7	)		5.5			5.9			3.1			1.9			3.9
Educational Services		0.2			(2.7	)		3.4			3.0			2.9			9.8			4.1
Health Care and Social Assistance		5.6			3.5			2.9			5.2			3.2			(0.5	)		1.8
Information, Culture and Recreation		10.1			5.8			(1.0	)		(0.7	)		3.0			(2.4	)		6.7
Accommodation and Food Services		1.1			(2.3	)		8.9			0.8			(0.1	)		(0.5	)		3.3
Public Administration		(1.4	)		0.2			5.1			5.3			(0.5	)		3.2			(3.0	)
Other Services		(2.8	)		0.2			2.3			5.4			(2.2	)		0.9			1.2
Total Employment		3.2			1.8			1.8			3.0			1.5			1.0			1.2
Table 29 (continued)	Ontario, Employment by Industry, Annual Change, 2000–2013
	(Per Cent Change)
	2007			2008			2009			2010			2011			2012			2013
Goods Producing Industries		(3.1	)		(1.2	)		(9.6	)		1.3			1.9			0.1			(0.3	)
Primary Industries		(5.7	)		(5.3	)		(2.8	)		4.6			3.0			1.7			(4.6	)
Manufacturing		(5.6	)		(5.1	)		(11.8	)		(1.2	)		1.8			0.7			(2.9	)
Construction		1.2			7.4			(6.6	)		4.9			3.2			(1.8	)		6.0
Utilities		20.6			12.6			(12.1	)		3.7			(7.1	)		1.8			(1.4	)
Services Producing Industries		3.4			2.4			(0.4	)		1.7			1.8			1.0			1.9
Trade		1.4			0.4			(1.8	)		0.6			(1.8	)		(0.2	)		2.9
Transportation and Warehousing		2.8			8.0			(4.0	)		(2.3	)		5.8			(1.6	)		4.8
Finance, Insurance, Real Estate and Leasing		(0.3	)		0.0			6.3			(1.0	)		0.7			1.6			1.9
Professional, Scientific and Technical Services		5.5			4.6			1.7			8.0			2.2			1.3			1.3
Business, Building and Other Support		0.8			1.2			(10.8	)		7.1			1.9			1.6			7.7
Educational Services		4.9			3.1			(4.0	)		6.1			(2.1	)		5.3			2.6
Health Care and Social Assistance		5.5			3.6			1.6			1.9			6.7			(0.6	)		3.0
Information, Culture and Recreation		2.5			(5.5	)		2.6			1.7			7.4			(3.9	)		(4.8	)
Accommodation and Food Services		8.0			(0.7	)		(3.1	)		(0.2	)		0.1			7.1			3.1
Public Administration		6.7			10.0			(1.9	)		3.8			4.6			(1.8	)		(2.2	)
Other Services		0.6			6.0			9.3			(7.6	)		(1.5	)		4.1			(3.0	)
Total Employment		1.8			1.6			(2.5	)		1.7			1.8			0.8			1.4

Note: Industrial groupings based on North American Industry Classification System (NAICS).

Source: Statistics Canada.

82

Ontario, Employment Level by Economic Regions, 2003–2013	Table 30
	(Thousands)
	2003		2004		2005		2006		2007		2008
Ontario		6,212		6,308		6,371		6,449		6,564		6,666
Region:*
East		818		819		828		842		874		901
Ottawa (510)		618		613		622		639		658		681
Kingston-Pembroke (515)		200		206		206		203		215		221
Greater Toronto Area (530)1		2,789		2,833		2,877		2,904		2,984		3,047
Central		1,454		1,481		1,498		1,527		1,536		1,551
Muskoka-Kawarthas (520)		176		182		170		181		180		182
Kitchener-Waterloo-Barrie (540)		601		616		643		658		658		662
Hamilton-Niagara Peninsula (550)		677		683		684		688		698		708
Southwest		778		805		800		813		802		798
London (560)		318		332		330		333		337		333
Windsor-Sarnia (570)		309		309		317		324		312		311
Stratford-Bruce Peninsula (580)		150		164		154		155		153		154
North		373		370		368		363		369		369
Northeast (590)		255		257		259		258		263		265
Northwest (595)		118		113		109		105		106		103
Table 30 (continued)			(Thousands)
			2009		2010		2011		2012		2013
Ontario				6,502		6,610		6,731		6,784		6,879
Region:*
East				882		882		899		911		901
Ottawa (510)				669		679		682		698		687
Kingston-Pembroke (515)				213		203		217		213		213
Greater Toronto Area (530)1				2,997		3,075		3,118		3,164		3,275
Central				1,511		1,530		1,576		1,575		1,578
Muskoka-Kawarthas (520)				174		174		177		173		168
Kitchener-Waterloo-Barrie (540)				647		663		690		687		704
Hamilton-Niagara Peninsula (550)				691		693		709		715		705
Southwest				759		768		777		777		772
London (560)				321		325		325		328		328
Windsor-Sarnia (570)				292		294		295		296		293
Stratford-Bruce Peninsula (580)				146		149		158		153		150
North				352		355		361		357		355
Northeast (590)				251		255		262		256		253
Northwest (595)				101		100		99		101		102

* Standard deviations vary significantly across regions, decreasing as the size of the region increases.

¹  Economic Region 530 closely matches the GTA, the main exception being that it excludes the city of Burlington.

Note: All figures are average annual employment levels.

Source: Statistics Canada.

83

Ontario, Employment Level by Industry for Economic Regions, 2013	Table 31
	(Thousands)
	All Industries		Agriculture		Resources1		Manufacturing
Ontario		6,879		87		38		777
Region:
East		901		15		2		54
Ottawa (510)		687		9		—		34
Kingston-Pembroke (515)		213		6		—		20
Greater Toronto Area (530)		3,275		7		7		350
Central		1,578		29		5		230
Muskoka-Kawarthas (520)		168		3		—		19
Kitchener-Waterloo-Barrie (540)		704		13		2		115
Hamilton-Niagara Peninsula (550)		705		14		2		96
Southwest		772		33		4		121
London (560)		328		10		—		45
Windsor-Sarnia (570)		293		8		2		54
Stratford-Bruce Peninsula (580)		150		15		2		21
North		355		2		21		23
Northeast (590)		253		2		17		18
Northwest (595)		102		—		3		5
Table 31 (continued)	(Thousands)
	Construction		Distributive2		Finance, Prof. & Mgmt.3		Info., Culture & Recreation4
Ontario		461		621		1,406		317
Region:
East		49		58		172		34
Ottawa (510)		35		41		140		27
Kingston-Pembroke (515)		14		17		32		7
Greater Toronto Area (530)		207		325		832		181
Central		125		134		255		60
Muskoka-Kawarthas (520)		16		14		24		6
Kitchener-Waterloo-Barrie (540)		54		60		115		27
Hamilton-Niagara Peninsula (550)		54		60		116		27
Southwest		54		71		107		28
London (560)		24		30		53		12
Windsor-Sarnia (570)		18		25		37		11
Stratford-Bruce Peninsula (580)		12		15		17		5
North		26		33		40		13
Northeast (590)		19		23		29		9
Northwest (595)		7		10		11		3

84

Table 31 (continued)	(Thousands)
	Retail Trade		Personal Services5		Education
Ontario		784		711		517
Region:
East		96		94		77
Ottawa (510)		69		69		56
Kingston-Pembroke (515)		27		24		20
Greater Toronto Area (530)		368		325		228
Central		183		173		129
Muskoka-Kawarthas (520)		20		22		12
Kitchener-Waterloo-Barrie (540)		81		68		61
Hamilton-Niagara Peninsula (550)		82		83		56
Southwest		87		81		56
London (560)		37		31		24
Windsor-Sarnia (570)		34		33		22
Stratford-Bruce Peninsula (580)		16		16		9
North		50		39		29
Northeast (590)		36		29		19
Northwest (595)		14		10		10

Table 31 (continued)	(Thousands)
	Health & Soc. Assistance		Public Administration
Ontario		785		374
Region:
East		116		135
Ottawa (510)		84		122
Kingston-Pembroke (515)		32		13
Greater Toronto Area (530)		319		124
Central		187		67
Muskoka-Kawarthas (520)		23		9
Kitchener-Waterloo-Barrie (540)		78		30
Hamilton-Niagara Peninsula (550)		86		29
Southwest		106		25
London (560)		48		12
Windsor-Sarnia (570)		39		10
Stratford-Bruce Peninsula (580)		18		3
North		57		23
Northeast (590)		38		15
Northwest (595)		19		9

All figures are average annual employment levels.

Sub-regional figures may not add up to regional totals due to rounding.

Employment numbers under 1,500 are suppressed because they are statistically unreliable.

See standard deviation and GTA note for Table 31.

Industrial groupings based on North American Industry Classification System (NAICS).

¹  Includes Forestry, Fishing, Mining, Oil and Gas.

²  Includes Transportation and Warehousing, Utilities and Wholesale Trade.

³  Includes Finance, Insurance, Real Estate and Leasing; Management of Companies, Administrative and Support Services; and Professional, Scientific and Technical Services.

⁴  Includes industries such as Publishing, Motion Picture and Sound Recording, Broadcasting and Telecommunications, Information Services and Data Processing Services, Performing Arts, Spectator Sports and Related Industries, Heritage Institutions and Amusement, Gambling and Recreation.

⁵  Includes Accommodation and Food Services and Other Services (such as Repair and Maintenance, Personal and Laundry, Religious, Grant-making, Civic, Professional and Similar Organizations).

Source: Statistics Canada.

85

Ontario Economic Regions1	Table 32
East
Ottawa (510)	The united counties of Stormont, Dundas and Glengarry, Prescott and Russell, Leeds and Grenville, Lanark County and the Ottawa Division
Kingston-Pembroke (515)	The counties of Lennox and Addington, Hastings, Renfrew and Frontenac and the Prince Edward Division
Central
Muskoka-Kawarthas (520)	The counties of Northumberland, Peterborough, Haliburton, the Muskoka District Municipality and the Kawartha Lakes Division
Kitchener-Waterloo-Barrie (540)	The counties of Dufferin, Wellington and Simcoe and the Waterloo Regional Municipality
Hamilton-Niagara Peninsula (550)	The divisions of Brant, Haldimand-Norfolk and Hamilton, the Niagara Regional Municipality and the city of Burlington
Greater Toronto Area2
Toronto (530)	The Toronto Division and the regional municipalities of Durham, York, Peel and Halton (excluding the city of Burlington)
Southwest
London (560)	The counties of Oxford, Elgin and Middlesex
Windsor-Sarnia (570)	The counties of Lambton and Essex and the Chatham-Kent Division
Stratford-Bruce Peninsula (580)	The counties of Perth, Huron, Bruce and Grey
North
Northeast (590)	The districts of Nipissing, Parry Sound, Manitoulin, Sudbury, Timiskaming, Cochrane, Algoma and the Greater Sudbury Division
Northwest (595)	The districts of Thunder Bay, Rainy River and Kenora

¹  As defined by Statistics Canada, Standard Geographical Classification SGC 2006.

²  Economic Region 530 closely matches the GTA, the main exception being that it excludes the city of Burlington.

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