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 2015-16 Fiscal Year End		17
Outstanding Debt Tables as at Fiscal Year End		18
SEC Registered Debt		43
Ontario Electricity Industry		45
Contingent Liabilities		47
Obligations Guaranteed by the Province of Ontario		47
Economic Data Tables		49
Ontario Economy
Ontario, Gross Domestic Product, 2002–2015		50
Ontario, Growth in Gross Domestic Product, 2002–2015		51
Ontario, Selected Economic Indicators, 2002–2015		52
Ontario, Selected Economic Indicators, Annual Change, 2002–2015		53
Ontario, Real Gross Domestic Product by Industry at Basic Prices, 2012–2015		54
Ontario, Growth in Real Gross Domestic Product by Industry at Basic Prices, 2012–2015		55
Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2012–2015		56
Ontario, Growth in Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2012–2015		57
Ontario, Housing Market Indicators, 2012–2015		58
Selected Financial Indicators, 2002–2015		59

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, International Merchandise Trade
Ontario, International Merchandise Exports by Major Commodity, 2015	60
Ontario, International Merchandise Imports by Major Commodity, 2015	61
Ontario, International Merchandise Exports by Top 25 Trading Partners, 2015	62
Ontario, International Merchandise Imports by Top 25 Trading Partners, 2015	63
Demographic Characteristics
Ontario, Selected Demographic Characteristics, 2008–2016	64
Ontario, Components of Population Growth, 2006–07 to 2015–16	65
Ontario Labour Markets
Ontario, Labour Force, 2002–2015	66
Ontario, Employment, 2002–2015	67
Ontario, Unemployment, 2002–2015	68
Employment Insurance (EI), 2002–2015	69
Ontario, Labour Compensation, 2002–2015	70
Ontario, Employment by Occupation, 2004–2015	71
Ontario, Distribution of Employment by Occupation, 2004–2015	72
Ontario, Employment by Industry, 2006–2015	73
Ontario, Growth in Employment by Industry, 2006–2015	75
Ontario, Employment Level by Economic Regions, 2005–2015	77
Ontario, Employment Level by Industry for Economic Regions, 2015	78
Ontario Economic Regions	80

(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% as large as the United States. The estimated population of Ontario on July 1, 2016 was 14 million, or 38.5% of Canada’s population of 36.3 million. Since 1996, the populations of Ontario and Canada have increased at average annual rates of 1.2% and 1%, respectively. Although it constitutes only 12% of the area of the Province, southern Ontario is home to approximately 94.2% of its population (as of July 1, 2015). The population of the Greater Toronto Area, the largest metropolitan area in Canada, was estimated to be 6.6 million on July 1, 2015.

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 29 seats, the New Democratic Party of Ontario has 20 seats. 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 2015-16, approximately 17.8% of the Province’s revenue came 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, 2016, approximately 28.2% (2015, 28.5%) 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

The Fiscal Transparency and Accountability Act, 2004 (the FTAA) sets out guidelines for public reporting of the fiscal plan. It requires that the Ontario Minister of Finance (“Minister”) release an annual budget that outlines a multi-year fiscal plan. In addition, it requires the Minister to release a mid-year review of the fiscal plan, known as the Ontario Economic Outlook and Fiscal Review. Each year, the Minister must release interim updates in the Summer and Winter on Ontario’s revenues and expenses for the current year. Finally, 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, 2016

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

	2016 $		2015 $
TAXATION
Personal Income Tax		31,140,531,121		29,313,403,558
Sales Tax		23,455,554,526		21,688,764,731
Corporations Tax		11,427,707,512		9,557,450,278
Education Property Tax		5,839,244,688		5,561,413,935
Employer Health Tax		5,648,931,985		5,415,366,133
Ontario Health Premium		3,452,922,027		3,365,882,504
Electricity Payments-In-Lieu of Taxes		3,247,000,000		180,000,000
Gasoline Tax		2,458,654,606		2,446,753,297
Land Transfer Tax		2,118,025,670		1,764,494,479
Tobacco Tax		1,225,621,601		1,162,503,240
Fuel Tax		751,441,968		739,321,958
Beer and Wine Tax		582,392,616		560,091,688
Corporation Preferred Share Dividend Tax		226,699,786		195,814,728
Estate Administration Tax		169,470,033		154,582,427
Mining Profits Tax		42,176,204		130,523,830
Gross Revenue Charge – Property Tax Component		14,717,204		19,353,872
Provincial Land Tax		11,846,092		13,351,216
Race Tracks Tax		4,320,377		4,214,730
Acreage Tax – The Mining Act		930,951		2,182,211
TOTAL TAXATION		91,818,189,685		82,275,468,815

Source: Ontario Ministry of Finance

Personal Income Tax revenue is collected by the federal government on behalf of the Province. The amount reported by the Province in 2015-16 is net of $7,118,900 in Ontario tax credits, excluding tax credits reported as expenses.

For 2016, the Ontario Personal Income Tax rates are: 5.05% for taxable income of up to $41,536; 9.15% for taxable income over $41,536 and up to $83,075; 11.16% for taxable income over $83,075 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 2015, the Ontario Personal Income Tax rates are: 5.05% for taxable income of up to $40,922; 9.15% for taxable income over $40,922 and up to $81,847; 11.16% for taxable income over $81,847 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 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. 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 and Ontario Tax Reduction. Ontario non-refundable tax credit amounts are indexed annually. The Ontario Dividend Tax Credits are calculated after the provincial surtax and before the Ontario Tax Reduction. For 2016, these credits are provided at a rate of 10% for eligible dividends and at a rate of 4.2863% for non-eligible dividends. For 2014 and 2015, they are provided at a rate of 10% for eligible dividends and 4.5% for non-eligible dividends.

Higher-income earners are subject to a surtax. For 2016, the surtax is equal to 20% of Ontario income tax in excess of $4,484, plus 36% of Ontario income tax in excess of $5,739. For 2015, the surtax is equal to 20% of Ontario income tax in excess of $4,418, plus 36% of Ontario income tax in excess of $5,654. 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.

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Ontario income tax is eliminated by the Ontario Tax Reduction if Ontario tax is below a threshold amount. If Ontario tax exceeds the taxfiler’s threshold amount, the Ontario Tax Reduction may reduce the taxfiler’s Ontario tax. For 2016, the basic threshold amount is $231 and the additional amount for each dependent child age 18 and, under, and each disabled or infirm dependant, is $427. For 2015, the basic threshold amount is $228 and the additional amount for each dependent, child age 18 and under and each disabled or infirm dependant is $421. For 2014, the basic threshold amount is $223 and the additional amount for each dependent child age 18 and under and each disabled or infirm dependant is $413.

The Harmonized Sales Tax (HST) is a single value-added tax based on the Federal Goods and Services Tax (GST). The provincial portion of the HST is eight per cent and the federal portion is five per cent, for a combined HST rate of 13 per cent. 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 insurance premiums and on private transfers of specified vehicles, at a rate of 13%. Both the sales tax on insurance premiums and on private sales of specified vehicles are administered by Ontario. The Sales Tax amounts reported by the Province are net of sales tax credits of $1,718,816,342 in 2015-16 and $1,691,497,735 in 2014-15.

Corporations Tax is comprised of three types of taxes levied on corporations: income tax, insurance premiums tax and special additional tax on life insurance corporations. Details of these taxes follow.

Income Tax: The general statutory Corporate Income Tax (CIT) rate is 11.5% (reduced from 14% to 12% on July 1, 2010 and from 12% to 11.5% on July 1, 2011). Active business income from manufacturing and processing (M&P), mining, logging, fishing and farming is subject to a lower CIT rate of 10% (reduced from 12% effective July 1, 2010). Small Canadian-controlled private corporations (CCPCs) are also eligible for a lower CIT rate of 4.5% (reduced from 5.5% effective July 1, 2010) on the first $500,000 of active business income. Effective May 2, 2014, and prorated for taxation years that straddle that date, the small business CIT rate is phased out for large CCPCs, and associated groups of CCPCs, with more than $10 million (fully eliminated with more than $15 million) of taxable capital employed in Canada in the previous year. The Province also levies a Corporate Minimum Tax (“CMT”) that effectively acts as a prepayment of regular CIT. CMT is calculated as the amount by which 2.7% (reduced from 4% effective July 1, 2010) of adjusted net income for accounting purposes exceeds CIT payable.

Insurance Premiums Tax: Insurance companies are subject to a 2% insurance premiums tax on life, accident and sickness insurance premiums, 3.5% on property insurance premiums and 3% on other (e.g. casualty) insurance premiums.

Special Additional Tax: Life insurance corporations pay a special additional tax at a rate of 1.25% of taxable capital in Ontario above a minimum $10 million exemption, with corporate income tax and CMT creditable against this tax.

Education property taxes are collected by municipalities and transferred to school boards for the purposes of funding education. Education property tax rates are set annually by the Minister of Finance for each class of real property. The tax is levied on the assessed value of property at a uniform rate of 0.188% for residential properties in 2016. Rates for commercial, industrial and pipeline properties vary across the Province. These rates are regulated under the Education Act. The Education Property Tax amounts shown are net of $1,060,400,794 in property tax credits and grants in 2015-16 and $1,034,927,008 in 2014-15. 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 $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 tax exemption was provided for the first $400,000 of annual Ontario payroll paid by private sector employers, including their associated entities. Beginning January 1, 2014, the tax exemption was increased from $400,000 to $450,000, and was eliminated for private sector employers with annual Ontario payroll, including those of their associated entities, in excess of $5,000,000. Registered charities continue to claim the tax exemption at all payroll sizes.

Electricity payments-in-lieu of taxes (PILs) on corporate income are made by OPG, Hydro One, and municipal electricity utilities (MEUs) to the Ontario Electricity Financial Corporation (OEFC). OEFC is one of the Ontario Hydro successor companines that is responsible for servicing and retiring the debt and certain other liabilities of the former Ontario Hydro. All PILs received by the 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), Corporations Tax Act and Taxation Act, 2007 (Ontario) while these publicly owned corporations are exempt from federal and provincial corporate taxes. As a result of broadening Hydro One ownership through an initial public offering on November 5, 2015, Hydro One ceased to be exempt from federal and provincial corporate income taxes. Upon exiting the PILs Regime, Hydro One is required to make corporate income tax payments to the Canada Revenue Agency (CRA) under the Federal Tax Regime.

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Under the amendments made to the Electricity Act, 1998 (Section 91.2) in the Budget Measures Act, 2015, the Minister of Finance has a statutory requirement to pay the OEFC in each fiscal year an amount equal to tax payable under the Taxation Act, 2007 (i.e., the provincial corporate income tax) by Hydro One Inc. and its subsidiaries for its taxation year ending in each fiscal year, to continue to help service and pay down the electricity sector stranded debt. Hydro One Inc. is composed of Hydro One Ltd.’s regulated Ontario distribution, transmission and remotes businesses.

Gasoline Tax is levied on gasoline, propane used in a licensed motor vehicle, and aviation fuel. 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. The tax rate for aviation fuel increased from 3.7 cents per litre to 4.7 cents per litre on April 1, 2015, and will increase by a further one cent per litre annually on April 1 of 2016 and 2017. The majority of tax is collected for the Province by Ministry-designated gasoline, propane, and aviation fuel tax collectors and registered importers.

Land Transfer Tax is levied on the transfer of land or an interest in land. 0.5% is levied on the value of the consideration for the conveyance up to and including $55,000; 1.0% on the value of the consideration exceeding $55,000 up to and including $250,000; 1.5% on the value of the 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 0.5% applies on the value of the 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. The specific tax rate per cigarette and per gram or part gram of fine cut tobacco and all other tobacco products except cigars increased from 13.975 cents to 15.475 cents on February 26, 2016. The rate of tax on cigars is 56.6% of the taxable price of the cigar. The majority of tax is collected for the Province by Ministry designated tobacco tax collectors and registered importers.

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 collectors and registered importers.

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.

The federal government remits to the province 35 per cent 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 on the issuance of a certificate of appointment of an estate trustee by an Ontario court. 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.

A portion of the Gross Revenue Charge (GRC) is payable to the OEFC 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 (page 1-10).

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 the extraction of mineral substances raised and sold by operators of Ontario mines. The $500,000 annual deduction must be shared by associated corporations. The tax rate on taxable profit subject to mining tax is 10% for non-remote mines and 5% for remote mines. A mining tax exemption on up to $10 million of profit during an exempt period is available for each new mine. The exempt period for a new non-remote mine is three years and the exempt period for a new remote mine is 10 years. The mining tax exemption is also available for a major expansion of an existing non-remote mine. Mining tax does not apply to diamond mining. Diamonds 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.

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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 introduction of the Ontario Health Premium (OHP) has helped to ensure the government’s ability to make much needed investments in the province’s health care system. Every penny of the OHP goes toward improving Ontario’s health services. Since 2003-04, health-related spending has increased by $21.9 billion while health-related revenues, mainly comprised of the OHP and federal transfers, have increased by $13.2 billion. In 2015-16, OHP revenue increased by $87 million to $3,453 million, up from $3,366 million in 2014-15. During the same period, expenses in the health sector increased by $1,028 million to $51,067 million, up from $50,039 million in 2014-15.

Ontario Health Premium revenue supports expenditures in all areas of the health sector and is not earmarked by program area. In 2015-16, revenue from the health premium was $3,453 million, or 6.8 per cent of the $51,067 million in total expenses for the health sector. This compares to $3,366 million or 6.7 per cent of $50,039 million in 2014-15. Below is a table that shows an example of how the health premium revenue supports major investments in the health care sector and also the level of support each sector would receive if the percentage shares in 2014-15 and 2015-16 were allocated proportionately across each expense area.

Example of How the Health Premium Supports Investments in the

Health Care Sector: OHP Revenue as a Share of Total Health

Expenditures Applied Proportionately Across Expense Areas

($ Millions)	2015-16 6.8%		2014-15 6.7%
Hospitals		1,108		1,102
OHIP		940		929
Home Care, Community and Mental Health Services		342		327
Long–Term Care Homes		267		260
Ontario Drug Programs		266		255
Public Health, Health Promotion and Other		530		493
Total		3,453		3,366

The Ontario Health Premium is paid by individuals resident in Ontario on the last day of the taxation year. An individual’s Ontario Health Premium liability is: $0 for taxable income of up to $20,000; 6% of taxable income over $20,000 for taxable income over $20,000 up to $25,000; $300 for taxable income over $25,000 up to $36,000; $300 plus 6% of taxable income over $36,000 for taxable income over $36,000 up to $38,500; $450 for taxable income over $38,500 up to $48,000; $450 plus 25% of taxable income over $48,000 for taxable income over $48,000 up to $48,600; $600 for taxable income over $48,600 up to $72,000; $600 plus 25% of taxable income over $72,000 for taxable income over $72,000 up to $72,600; $750 for taxable income over $72,600 up to $200,000; $750 plus 25% of taxable income over $200,000 for taxable income over $200,000 up to $200,600; and $900 for taxable income over $200,600.

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Revenue – Non-tax

For the year ended March 31, 2016

GOVERNMENT OF CANADA	2016 $		2015 $
Canada Health Transfer		13,088,767,000		12,407,895,000
Canada Social Transfer		4,984,014,000		4,847,073,000
Equalization		2,363,014,000		1,988,423,000
Labour Market Development Agreement		631,902,211		627,548,138
Social Housing Agreement		454,541,337		464,694,463
Indian Welfare Services Agreement		259,026,026		245,894,195
Job Fund Agreement		205,116,954		178,516,140
Infrastructure Programs		145,524,377		137,468,344
Bilingualism Development		84,647,772		85,555,793
Labour Market Agreement for Persons with Disabilities		76,411,477		76,411,477
Youth Criminal Justice Act		51,837,596		52,463,122
Legal Aid – Criminal		50,980,005		52,843,808
Growing Forward 2		46,813,596		46,835,815
Student Assistance		35,852,802		25,927,065
Immigration Holds Agreement		21,527,391		20,279,639
Targeted Initiative for Older Workers		8,285,894		7,543,029
Bridge Training Program		5,119,938		5,200,000
Interpolerable Electronic Health Record Project (iEHR/HIAL)		4,573,665		10,645,974
Electronic Medical Record (EMR) Project		1,873,500		3,714,000
Other		337,077,081		329,716,304
TOTAL GOVERNMENT OF CANADA		22,856,906,267		21,614,648,306

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The Canada Health Transfer (CHT) is a federal block transfer that supports health care spending in the provinces and territories. Beginning in 2014-15, the CHT has been allocated to provinces and territories on an equal per capita basis. To receive CHT transfers, provinces and territories must comply with the principles of the Canada Health Act.

The Canada Social Transfer (CST) is a federal block transfer that supports provincial and territorial expenditures on post-secondary education, social assistance and social services, including early childhood development, and early learning and child care services. Beginning in 2007-08, the CST has been allocated to provinces and territories on an equal per capita basis. To receive CST transfers, provinces and territories cannot impose residency requirements in determining eligibility for social assistance to Canadian citizens, permanent residents, persons with a temporary resident permit, and refugee claimants waiting to receive permanent resident status.

Equalization is the federal government’s transfer program for addressing fiscal disparities among provinces. The Equalization program aims to ensure that provincial governments have sufficient revenues to provide reasonably comparable levels of public services at reasonably comparable levels of taxation. Equalization payments are unconditional – receiving provinces are free to spend the funds according to their own priorities.

The Labour Market Development Agreement (LMDA) provides for the transfer to Ontario of labour market development programs and services 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 Agreement reimbursements are the federal portion of the cost of subsidizing lowrental housing programs. The Province receives funding from the Canada Mortgage and Housing Corporation (CMHC) to administer social housing in Ontario.

The Indian Welfare Services Agreement is a unique bilateral (Ontario-Canada) cost-sharing agreement to support eligible social services provision on reserve. The Agreement recognizes a shared Ontario-Canada commitment to deliver to members of First Nations living on reserve, provincial welfare programs available to the population of the province not living on reserve, and outlines a formula to determine Canada’s financial contribution.

The Canada-Ontario Job Fund Agreement (JFA) provides funding for labour market programs and services that focus on skills development for unemployed individuals who are not Employment Insurance clients and employed individuals who require further training such as those who do not have a high school diploma, or recognized certification or who have low levels of literacy and essential skills. The JFA also makes provision for the support of employer-sponsored training for certain eligible training costs provided by an eligible third-party institution. On April 1, 2014, the JFA replaced the Canada-Ontario Labour Market Agreement (LMA).

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.

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 Ontario to support measures to enhance the employability of persons with disabilities, and increase the employment opportunities available to persons with disabilities by addressing employer needs and encouraging employers to remove barriers faced by persons with disabilities. Additionally, the LMAPD aims to demonstrate the results to Canadians of investments made under the agreement as evidenced by enhanced employability and increased labour participation of persons with disabilities.

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.

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Growing Forward 2 is a federal-provincial initiative that encourages innovation, competitiveness and market development in Canada’s agri-food and agri-products sector. In Ontario, Growing Forward 2 offers resources, tools and cost-shared funding assistance to eligible producers, processors, organizations and collaborations to grow their profits, expand markets and manage shared risks.

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 Targeted Initiative for Older Workers (TIOW) is a federal-provincial cost-shared program that helps unemployed workers aged 55 to 64. TIOW is available in communities of fewer than 250,000 people that have high unemployment or rely to a large extent on single industries. The initiative helps older workers find programs and services that increase their ability to find work, reintegrate back into employment and ensure that they remain active and productive workers while their communities undergo adjustment.

Federal government funding for the Ontario Bridge Training Program supports programs for skilled immigrants who are facing barriers to workforce integration and retention in the Ontario labour market.

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.

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.

Other payments from the federal government included, among others:

a) Transfers to Government Organizations such as Agricorp and Toronto Organizing Committee for the 2015 Pan American and Parapan American Games (Toronto 2015);

b) Funding to support sector-specific services covered under different agreements, such as the First Nation Policing Agreement, Biology Casework Analysis Contribution Program Agreement for DNA testing, and Supporting Families Fund agreement for family law services;

c) Annual subsidies under the Constitution Act, 1907;

d) Interest on the Common School Fund.

11

INCOME FROM GOVERNMENT ENTERPRISES	2016 $		2015 $
Ontario Lottery and Gaming Corporation		2,233,101,000		1,995,037,000
Liquor Control Board of Ontario		1,957,168,000		1,830,739,000
Ontario Power Generation Incorporated		463,000,000		1,056,000,000
Hydro One Limited		236,000,000		732,800,000
Brampton Distribution Holdco. Incorporated		20,000,000		0
TOTAL INCOME FROM GOVERNMENT ENTERPRISES		4,909,269,000		5,614,576,000

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, resort 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 2015-16 the proceeds from OLG lotteries, casinos and slots were paid to the Province of Ontario’s Consolidated Revenue Fund and allocated to the following Ministries and programs: $115 million to the Ontario Trillium Foundation for grants to charities and not-for-profit organisations, $38 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 highperformance 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 2015-16 the proceeds from OLG resort casinos were allocated by the Province of Ontario to general government priorities such as health care, education, public infrastructure, and horseracing support.

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

Hydro One Inc. (now a subsidiary of Hydro One Limited) and Ontario Power Generation Incorporated (OPG) were created as part of the restructuring of the former Ontario Hydro. The Province’s proportional share of net income from Hydro One Limited (and previously Hydro One Inc.) and the net income from OPG are 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.

Brampton Distribution Holdco. Incorporated revenue is derived primarily from distribution of electricity.

12

	2016 $		2015 $
OTHER REVENUE
Sales and Rentals		2,101,578,040		2,335,503,548
Fees, Licences and Permits:
Vehicle and Driver Registration Fees		1,564,758,627		1,432,930,258
Other fees and licences:
Local registrars		50,771,718		51,024,386
Personal Property Security Act		47,622,071		44,596,132
Drive Clean		14,652,155		14,614,961
Companies – Incorporations		23,060,376		22,284,939
Gaming Revenues		15,840,618		16,469,341
Other		590,998,588		544,397,043
Total Fees, Licences and Permits		2,307,704,153		2,126,317,060
Royalties:
Gross Revenue Charge – Water Rental Component		124,359,634		126,747,213
Teranet – Polaris Royalties		33,000,000		33,000,000
Crown Charges – Forestry		34,986,310		32,775,429
Other		82,086,397		82,393,880
Total Royalties		274,432,341		274,916,522
Recovery of Prior Years’ Expenditures		668,056,935		564,738,319
Reimbursement of Expenditures		991,158,707		984,799,526
Fines and Penalties		46,611,634		57,791,481
Miscellaneous:
Electricity Debt Retirement Charge		859,000,000		956,000,000
Power Supply Contract Recoveries		875,000,000		950,000,000
Net Reduction of Power Purchase Contracts		172,000,000		217,000,000
Independent Electricity System Operator Revenue		220,928,591		240,483,460
Other		276,001,422		334,174,971
Total Miscellaneous		2,402,930,013		2,697,658,431
TOTAL OTHER REVENUE		8,792,471,823		9,041,724,888

Source: Ontario Ministry of Finance

13

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 $185 to $4,601. The latest fees for passenger vehicles and light commercial vehicles weighing 3,000 kilograms or less used for personal purposes are $108 per year in Southern Ontario and $54 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 1st 2013. Fees for the program are chargeable to the public for vehicle emissions testing, known as a “Drive Clean Emissions test.” As announced in the 2016 Ontario budget, the $30 emissions test fee for light duty vehicles will be eliminated in 2017-18.

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 referenced on page 1-4.

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 2015-2016 was set at zero (bioproducts only), $4.43, 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 $5.29 per cubic metre.

Beginning in 2006, funds for the Forest Resource Inventory (FRI) have been collected through the stumpage system. In 2015-2016 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 2015. 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.

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 yearend 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.

14

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.

The Electricity Debt Retirement Charge (DRC) is paid by electricity consumers based on consumption of electricity. The Electricity Act, 1998 allowed for the DRC to be in place until the residual stranded debt is retired. Residual stranded debt originated from the restructuring of the old Ontario Hydro and restructuring of the electricity sector. Ontario has removed the Debt Retirement Charge (DRC) from residential electricity users’ bills as of January 1, 2016. The residential rate class accounts for about a third of electricity load subject to the DRC with the remainder of electricity load used by commercial, institutional, industrial and other consumers. As a further step to mitigate electricity cost pressures for commercial, industrial and other users, the government introduced legislation, passed on December 10, 2015, the Budget Measures Act, 2015 to legislate a fixed end-date for the DRC of April 1, 2018, for commercial, industrial and all other users.

Revenues under “Power Supply Contract Recoveries” arise from the reselling of power and recovery from electricity consumers of the cost of power supply agreements of the Ontario Electricity Financial Corporation (OEFC), the legal continuation of the former Ontario Hydro.

Power purchase 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 were 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 was allowed to recover actual costs that could not 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 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) was established by the Electricity Act, 1998. It operates independently as a non-profit corporation without share capital. Licensed by the Ontario Energy Board (OEB), it reports to the legislature through the Ministry of Energy. 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 OEB-approved fees for each megawatt of electricity withdrawn from the IESO-controlled grid.

The former Ontario Power Authority (OPA) was created under the Electricity Restructuring Act, 2004, to ensure an adequate long-term supply of electricity. Pursuant to amendments to the Electricity Act, 1998, as part of the Building Opportunity and Securing Our Future Act, 2014, the OPA and IESO amalgamated into a new entity also called the IESO, effective January 1, 2015. The new amalgamated entity continues to fulfill the mandates of both predecessor organizations.

	2016		2015
TOTAL REVENUES	$	128,376,836,775	$	118,546,418,009

15

PUBLIC DEBT

Publicly Held Debt Summary

Publicly held debt is debt issued to the general public. As at March 31, 2016, the total publicly held debt issued was $315,443 million, $254,039 million of which was issued in Canadian dollars (includes $13,921 million of treasury bills), $45,393 million in U.S. dollars (includes $6,987 million in U.S. commercial paper), $12,253 million in euros, $1,870 million in Swiss francs and $1,888 million in other currencies.

From April 1, 2016 through December 2, 2016, the Province announced public offerings of bonds and notes totaling approximately $17.4 billion, all for provincial purposes. No debt was issued for the OEFC. The tables below provide a summary of the publicly held debt issued by the Province from April 1, 2016 through December 2, 2016 for provincial purposes.

16

Debt Issuances Since 2015-16 Fiscal Year End

(from April 1, 2016 to December 2, 2016)

DEBT ISSUED BY THE PROVINCE FOR PROVINCIAL PURPOSES

Series	Date of Issue	Date of Maturity	Interest Rate %			Funds	Principal		References
							(in millions)
DMTN229	April 12, 2016	June 2, 2026		2.40		Canadian$		750.0	(2) (4)
G69	April 27, 2016	April 27, 2026		2.50		US$		1,000.0	(2) (5)
DMTN228	May 18, 2016	December 2, 2046		2.90		Canadian$		700.0	(2) (6)
AD14	May 26, 2016	August 26, 2025		3.10		AUD		40.0	(2) (7)
AD14	June 2, 2016	August 26, 2025		3.10		AUD		60.0	(2) (7)
DMTN228	June 3, 2016	December 2, 2046		2.90		Canadian$		1,000.0	(2) (6)
DMTN229	June 7, 2016	June 2, 2026		2.40		Canadian$		750.0	(2) (4)
G73	June 17, 2016	June 17, 2019		1.25		US$		1,750.0	(2) (8)
DMTN231	June 21, 2016	June 2, 2048		2.80		Canadian$		600.0	(2) (9)
OSB2016	June 21, 2016	Various		Various		Canadian$		125.0	(10)
DMTN231	July 5, 2016	June 2, 2048		2.80		Canadian$		600.0	(2) (9)
DMTN231	July 12, 2016	June 2, 2048		2.80		Canadian$		600.0	(2) (9)
DMTN229	July 15, 2016	June 2, 2026		2.40		Canadian$		1,000.0	(2) (4)
DMTN231	July 29, 2016	June 2, 2048		2.80		Canadian$		750.0	(2) (9)
DMTN232	August 23, 2016	March 8, 2022		1.35		Canadian$		1,000.0	(2) (11)
DMTN229	August 26, 2016	June 2, 2026		2.40		Canadian$		900.0	(2) (4)
DMTN229	September 20, 2016	June 2, 2026		2.40		Canadian$		750.0	(2) (4)
DMTN229	October 14, 2016	June 2, 2026		2.40		Canadian$		750.0	(2) (4)
DMTN231	October 25, 2016	June 2, 2048		2.80		Canadian$		800.0	(2) (9)
DMTN233	October 27, 2016	October 27, 2021		3 CBA+26.0	*	Canadian$		1,200.0	(1) (12)
DMTN229	November 22, 2016	June 2, 2026		2.40		Canadian$		750.0	(2) (4)
DMTN231	November 25, 2016	June 2, 2048		2.80		Canadian$		750.0	(2) (9)
DMTN231	December 2, 2016	June 2, 2048		2.80		Canadian$		750.0	(2) (9)

* 3 CBA is 3-month Canadian Bankers’ Acceptance Rate.

(1) Interest is paid quarterly.

(2) Interest is paid semi-annually.

(4) DMTN229: During the fiscal year 2016-17, the Series DMTN229 was re-opened, bringing the total issue size to $7,500 million.

(5) G69: The Province entered into currency exchange agreements that effectively converted 1,000 million of these US dollar obligations to Canadian dollar obligations at an exchange rate of 1.28025.

(6) DMTN228: During the fiscal year 2016-17, the Series DMTN228 was re-opened, bringing the total issue size to $14,700 million, including $150 million for OEFC.

(7) ADI4: The Province entered into currency exchange agreements that effectively converted 100 million of these Australian dollar obligations to Canadian dollar obligations at an exchange rate of 0.94160.

(8) G73: The Province entered into currency exchange agreements that effectively converted 1,750 million of these US dollar obligations to Canadian dollar obligations at an exchange rate of 1.32310.

(9) DMTN231: During the fiscal year 2016-17, the Series DMTN231 was issued for a total of $4,850 million.

(10) Ontario Savings Bonds Series 2016 was available in various types, maturities and interest rates. This was the 22nd issue of provincial savings bonds. The total proceeds from this issue were $125 million.

(11) DMTN232: During the fiscal year 2016-17, the Series DMTN232 was issued for a total of $1,000 million.

(12) DMTN233: During the fiscal year 2016-17, the Series DMTN233 was issued for a total of $1,200 million.

17

Outstanding Debt as at March 31, 2016 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
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	2008-2016	CPP	3.25 to 4.68		284,056,000
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)

18

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
To Ontario Immigrant Investor Corporation:
Year ending March 31
2017	2012-2013	OIIC139-143	1.917 to 2.501		19,823,105
2018	2013	OIIC144-145	2.04 to 2.21		14,277,402
2019	2014	OIIC146-156	2.02 to 2.53		57,095,610
2020	2015	OIIC157-168	1.11 to 2.18		33,734,574
2021	2016	OIIC169-180	1.30 to 1.62		6,992,917
					131,923,608		(4)
To Canada Mortgage and Housing Corporation:
Year ending March 31
2000-2017	1977	CMHC	7.625 to 10.75		1,077,918
2000-2018	1977-1979	CMHC	7.625 to 13.00		6,465,521
2000-2019	1977-1980	CMHC	7.625 to 15.25		10,534,684
2000-2020	1977-1980	CMHC	7.625 to 15.75		20,614,839
2000-2021	1979-1981	CMHC	9.50 to 15.75		11,817,471
2000-2022	1982	CMHC	9.75 to 15.75		552,943
					51,063,375		(5)
TOTAL NON-PUBLIC DEBT					10,185,726,983

19

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
April 12, 2016	April 12, 2011	DMTN209	3M CBA + 0.125		1,090,000,000	(6)
June 2, 2016	June 29, 2005	DMTN149	Step-up		200,000,000	(7)
June 24, 2016	June 24, 2009	DMTN196	3M CBA + 0.62		275,000,000	(6)
June 27, 2016	May 27, 2011	DMTN210	3M CBA + 0.18		1,000,000,000	(6)
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	(6)
December 2, 2016	December 7, 2004	DMTN132	4.875		200,000,000
December 2, 2016	August 22, 2005	DMTN152	Step-up		300,000,000	(8)
March 8, 2017	January 25, 2007	DMTN173	4.30		3,100,000,000	(6)
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	(6)
November 23, 2017	November 23, 2012	DMTN217	3M CBA + 0.25		750,000,000	(6)
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	(6)
June 2, 2018	August 28, 2003	DMTN79	5.50		605,000,000	(6)
August 28, 2018	August 28, 2013	DMTN222	3M CBA + 0.16		600,800,000	(6)
September 8, 2018	January 15, 2013	DMTN218	2.10		7,628,000,000
December 3, 2018	December 3, 2013	DMTN224	3M CBA + 0.15		937,000,000	(6)
June 2, 2019	April 19, 2004	DMTN105	5.35		100,000,000	(6)
June 2, 2019	April 17, 2009	DMTN195	4.40		7,050,000,000	(6)
August 26, 2019	August 26, 2014	DMTN226	3M CBA+ 0.09		1,921,000,000	(6)
September 8, 2019	June 5, 2014	DMTN225	2.10		3,400,000,000
June 2, 2020	February 22, 2005	DMTN140	4.85		562,000,000
June 2, 2020	February 23, 2010	DMTN200	4.20		10,025,000,000
September 4, 2020	September 4, 1998	LY	6.30		15,000,000

20

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN CANADA IN CANADIAN DOLLARS
March 16, 2021	March 16, 2016	DMTN230	3M CBA + 0.44		1,364,600,000
June 2, 2021	December 27, 2007	DMTN180	4.50		75,000,000	(6)
June 2, 2021	January 12, 2011	DMTN207	4.00		8,915,000,000
June 2, 2022	November 8, 2011	DMTN212	3.15		11,771,700,000
July 13, 2022	July 13, 1992	HC	9.50		1,590,438,000
June 2, 2023	November 6, 2012	DMTN215	2.85		9,322,700,000
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		10,000,000,000
June 2, 2025	December 20, 1994	JE	9.50		460,000,000
June 2, 2025	January 9, 2015	DMTN227	2.60		12,550,000,000
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
June 2, 2026	February 3, 2016	DMTN229	2.40		1,850,000,000
December 2, 2026	February 13, 1997	KR	8.00		386,500,000
December 2, 2026	January 20, 1999	MH	7.00		124,584,000	(9)
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

21

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN CANADA IN CANADIAN DOLLARS
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	(6)
July 13, 2034	September 21, 2005	DMTN157	5.00		47,500,000	(10)
November 3, 2034	November 3, 1994	HY	9.75		248,800,000
January 10, 1995 to January 10, 2035	November 30, 1994	HZ	9.4688		2,315,904	(11)
“	“	JA	9.4688		3,601,344	(11)
“	“	JB	9.4688		8,482,324	(11)
“	“	JC	9.4688		4,764,354	(11)
“	“	JD	9.4688		3,171,134	(11)
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	5.35		150,000,000
June 20, 2036	June 20, 1996	KC	8.25		98,984,000
December 1, 2036	March 8, 2006	DMTN158	2.00 Real Return		2,536,201,921	(12)
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

22

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN CANADA IN CANADIAN DOLLARS
June 2, 2038	July 28, 2004	DMTN117	10.00		75,000,000		(13)
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		223,858,000
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		(14)
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		15,525,000,000
June 2, 2046	May 24, 2006	DMTN166	4.85		154,700,000
December 2, 2046	February 2, 2015	DMTN228	2.90		12,850,250,000
June 2, 2047	February 28, 2007	DMTN176	4.50		158,000,000
June 2, 2048	May 6, 2008	DMTN184	4.70		50,000,000

23

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding			Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN CANADA IN CANADIAN DOLLARS
June 2, 2054	July 22, 2008	DMTN185	4.60		40,000,000
June 2, 2062	November 8, 2012	DMTN216	3.25		475,000,000
					214,006,424,157
CPI adjustment to Real Return Swap					(51,607,614	)	(12)
					213,954,816,543

24

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
ONTARIO SAVINGS BONDS
June 21, 2016	June 21, 2009	Annual	Variable		5,115,800
June 21, 2016	June 21, 2009	Compound	Variable		6,325,700
June 21, 2016	June 21, 2011	Annual	Step-up		209,233,700
June 21, 2016	June 21, 2011	Compound	Step-up		98,961,100
June 21, 2016	June 21, 2013	Annual	Variable		5,134,100
June 21, 2016	June 21, 2013	Compound	Variable		6,803,000
June 21, 2016	June 21, 2013	Annual	1.50		5,502,400
June 21, 2016	June 21, 2013	Compound	1.50		5,635,100
June 21, 2017	June 21, 2010	Annual	3.75		9,789,400
June 21, 2017	June 21, 2010	Compound	3.75		8,681,100
June 21, 2017	June 21, 2012	Annual	Step-up		338,219,500
June 21, 2017	June 21, 2012	Compound	Step-up		219,220,800
June 21, 2017	June 21, 2014	Annual	Variable		4,162,800
June 21, 2017	June 21, 2014	Compound	Variable		7,527,900
June 21, 2017	June 21, 2014	Annual	1.35		3,422,000
June 21, 2017	June 21, 2014	Compound	1.35		3,261,700
June 21, 2018	June 21, 2011	Annual	3.20		6,599,100
June 21, 2018	June 21, 2011	Compound	3.20		6,362,700
June 21, 2018	June 21, 2013	Annual	Step-up		200,169,200
June 21, 2018	June 21, 2013	Compound	Step-up		79,678,400
June 21, 2018	June 21, 2015	Annual	Variable		3,116,600
June 21, 2018	June 21, 2015	Compound	Variable		2,794,200
June 21, 2018	June 21, 2015	Annual	0.90		2,137,400

25

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
ONTARIO SAVINGS BONDS (Cont’d)
June 21, 2018	June 21, 2015	Compound	0.90		1,184,900
June 21, 2019	June 21, 2014	Annual	Step-up		294,411,800
June 21, 2019	June 21, 2014	Compound	Step-up		161,926,800
June 21, 2020	June 21, 2010	Annual	4.25		42,106,100
June 21, 2020	June 21, 2010	Compound	4.25		30,570,700
June 21, 2020	June 21, 2015	Annual	Step-up		30,724,000
June 21, 2020	June 21, 2015	Compound	Step-up		14,986,200
June 21, 2021	June 21, 2011	Annual	3.80		11,630,400
June 21, 2021	June 21, 2011	Compound	3.80		13,160,500
June 21, 2022	June 21, 2012	Annual	2.80		3,979,600
June 21, 2022	June 21, 2012	Compound	2.80		5,115,100
June 21, 2023	June 21, 2013	Annual	3.10		10,590,800
June 21, 2023	June 21, 2013	Compound	3.10		7,123,500
June 21, 2024	June 21, 2014	Annual	3.10		19,377,400
June 21, 2024	June 21, 2014	Compound	3.10		9,448,100
June 21, 2025	June 21, 2015	Annual	2.35		3,964,600
June 21, 2025	June 21, 2015	Compound	2.35		3,184,500
Active Series					1,901,338,700		(15)
Matured Series					58,530,000		(16)
TOTAL ONTARIO SAVINGS BONDS					1,959,868,700
TOTAL PAYABLE IN CANADA IN CANADIAN DOLLARS					215,914,685,243

26

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN GLOBAL MARKET IN CANADIAN DOLLARS
October 9, 2018	October 9, 2014	G68	1.75		500,000,000
January 27, 2023	January 29, 2016	G72	1.95		750,000,000
February 7, 2024	February 7, 1994	HS	7.50		1,106,700,000
TOTAL PAYABLE IN GLOBAL MARKET IN CANADIAN DOLLARS					2,356,700,000
PAYABLE IN EUROPE IN CANADIAN DOLLARS
July 13, 2034	July 13, 1994	EMTN5	9.40		300,000,000
TOTAL PAYABLE IN EUROPE IN CANADIAN DOLLARS					300,000,000
Foreign Currency Debt						(17)
PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS
September 29, 2020	September 29, 2010	ADI2	6.25		500,000,000
August 22, 2024	August 22, 2014	ADI3	4.25		350,000,000
August 26, 2025	February 26, 2015	ADI4	3.10		265,000,000
TOTAL PAYABLE IN AUSTRALIA IN AUSTRALIAN DOLLARS					1,115,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 0.99597					1,110,507,220	(17a)

27

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
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
May 21, 2024	May 21, 2014	EMTN110	1.875		1,750,000,000
January 21, 2025	January 21, 2015	EMTN111	0.875		1,250,000,000
June 28, 2041	January 29, 2016	EMTN112	1.82		52,000,000
TOTAL PAYABLE IN EUROPE IN EURO					7,552,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.57146					11,867,643,483		(17b)
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		(17c)

28

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN JAPAN IN JAPANESE YEN
August 8, 2018	August 8, 2008	YL016	1.675		8,000,000,000
TOTAL PAYABLE IN JAPAN IN JAPANESE YEN					8,000,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 0.009444					75,550,891		(17d)
PAYABLE IN EUROPE IN JAPANESE YEN
June 8, 2020	June 7, 2010	EMTN105	1.65		36,900,000,000
TOTAL PAYABLE IN EUROPE IN JAPANESE YEN					36,900,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 0.011529					425,433,751

29

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN EUROPE IN SOUTH AFRICAN RAND
September 20, 2016	September 20, 2006	EMTN78	9.00		60,000,000
TOTAL PAYABLE IN EUROPE IN SOUTH AFRICAN RAND					60,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 0.22710					13,626,244		(17a	)
PAYABLE IN EUROPE IN SWISS FRANCS
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					1,325,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.12837					1,495,087,829		(17e)
PAYABLE IN CANADA IN U.S. DOLLARS
December 21, 2016	December 21, 2006	DMTN171	4.95		100,000,000
TOTAL PAYABLE IN CANADA IN U.S. DOLLARS					100,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.1555					115,550,000		(17f)

30

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
PAYABLE IN UNITED STATES IN U.S. DOLLARS
November 23, 2017	November 23, 2012	USMTN2	3M Libor + 0.25		250,000,000
TOTAL PAYABLE IN THE UNITED STATES IN U.S. DOLLARS					250,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.01600					254,000,000		(17g	)
PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS
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

31

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding			Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
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 18, 2019	January 21, 2016	G71	1.625		2,500,000,000
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
May 21, 2020	May 21, 2015	G70	1.875		2,000,000,000
September 10, 2021	September 11, 2014	G67	2.50		2,000,000,000
June 29, 2022	June 29, 2012	G58	2.45		1,000,000,000
May 16, 2024	May 16, 2014	G66	3.20		1,250,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS					32,246,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.16814					37,667,718,000			(17h)
TOTAL BONDS					271,802,662,661
UNAMORTIZED FOREIGN EXCHANGE GAINS/ (LOSSES)					(99,956,932	)
TOTAL BONDS NET OF UNAMORTIZED
FOREIGN EXCHANGE GAIN/(LOSS)					271,702,705,729
TREASURY BILLS					13,216,900,000
U.S. COMMERCIAL PAPER (in U.S. Dollars)					5,084,247,000			(18)
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $ 1.37422					6,986,858,452
TOTAL PUBLICLY HELD DEBT					291,906,464,181
TOTAL NON-PUBLIC AND PUBLIC DEBT					302,092,191,164

32

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding			Reference
			%	$
PUBLICLY HELD DEBT (Cont’d)
SCHOOL BOARD TRUST DEBT
Year ending March 31
2034	2004		5.90		891,000,000
Less: Sinking Fund					(216,934,152	)
					674,065,848			(19)
TOTAL DEBT ISSUED FOR PROVINCIAL PURPOSES					302,766,257,012
CONSOLIDATION ADJUSTMENTS – OTHER GOVERNMENT ORGANIZATIONS
NON-PUBLIC DEBT ISSUED BY AGENCIES:
Ontario Mortgage and Housing Corporation					302,662,496
Ontario Immigrant Investor Corporation					708,712,000			(4)
PUBLIC DEBT ISSUED BY AGENCIES:
Infrastructure Ontario					300,000,000
Niagara Parks Commission					25,579,201
ORNGE					273,966,932
Ottawa Convention Centre					1,834,666

33

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding			Reference
			%	$
ONTARIO SECURITIES HELD BY AGENCIES:
Bonds					(398,190,608	)
Treasury Bills					(925,394,971	)
TOTAL CONSOLIDATION ADJUSTMENTS					289,169,716			(20)
TOTAL PROVINCIAL PURPOSE DEBT AFTER CONSOLIDATION ADJUSTMENTS					303,055,426,728

34

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)

35

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLICLY HELD DEBT
PAYABLE IN CANADA IN CANADIAN DOLLARS
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
September 9, 2019	June 5, 2014	DMTN225	2.10		100,000,000
June 2, 2020	February 22, 2005	DMTN140	4.85		29,000,000
June 2, 2020	April 22, 2010	DMTN200	4.20		775,000,000
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		2,777,300,000
September 8, 2023	November 29, 2004	HP	8.10		50,000,000
June 2, 2024	November 25, 2013	DMTN223	3.50		1,550,000,000
June 2, 2025	January 9, 2015	DMTN227	2.60		1,050,000,000
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		828,051,000		(12)
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		525,000,000
December 2, 2046	February 2, 2015	DMTN228	2.90		149,750,000
TOTAL PAYABLE IN CANADA IN CANADIAN DOLLARS					14,978,501,000

36

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLIC HELD DEBT (Cont’d)
Foreign Currency Debt							(17)
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		(17i)
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		(17i)
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 $ 1.15472					375,283,820		(17i)

37

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		(17i)
PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS
February 14, 2018	February 14, 2013	G62	1.20		295,000,000
TOTAL PAYABLE IN GLOBAL MARKET IN U.S. DOLLARS					295,000,000
CANADIAN DOLLAR EQUIVALENT EXCHANGE RATE OF $1.00000					295,000,000		(17i)

38

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
PUBLIC HELD DEBT (Cont’d)
TOTAL BONDS					16,164,300,320
UNAMORTIZED FOREIGN EXCHANGE GAINS/(LOSSES)					23,580,681
TOTAL BONDS NET OF UNAMORTIZED FOREIGN EXCHANGE GAIN/ (LOSS)					16,187,881,001
TREASURY BILLS					1,629,624,000
TOTAL PUBLICLY HELD DEBT					17,817,505,001
TOTAL DEBT ISSUED BY THE PROVINCE FOR OEFC					18,047,971,001
DIRECTOEFCDEBT					6,309,619,000
TOTAL OEFC DEBT					24,357,590,001
TOTAL CONSOLIDATED DEBT					327,413,016,729

39

Date of Maturity	Date of Issue	Series	Interest Rate	Outstanding		Reference
			%	$
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.

40

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, and Libor - London Interbank Offered Rate.

2. The following debt series are issued for Provincial purposes and for OEFC: DMTN208, DMTN173, DMTN217, DMTN183, DMTN79, DMTN218, DMTN195, DMTN225, DMTN140, DMTN200, DMTN207, DMTN212, DMTN215, HP, DMTN223, DMTN227, KJ, LQ, DMTN158, DMTN164, DMTN182, DMTN204, DMTN214, DMTN220, DMTN228, PU, EMTN82 and G62.

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. OIIC: Total outstanding amount is $709 million which is invested directly with the Province of Ontario and Infrastructure Ontario.

5. 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.

6. 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: 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%, DMTN221 2.19% ($475 million), DMTN79 3M CBA – 0.05% ($125 million), DMTN222 2.52% ($531 million), DMTN224 2.14%, DMTN105 3M CBA – 0.03%, DMTN195 3M CBA rate + 0.55% ($600 million), DMTN226 1.91%, DMTN180 4.52%, and DMTN116 4.22%.

7. 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 at par. 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%.

8. 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%.

9. MH: The terms of these debentures require that a special one-time interest payment of 25% of the principal amount outstanding be made at maturity.

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

11. 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 with final payment on January 10, 2035. During the fiscal year 2015-16, principal repaid was $0.1 million. The total principal and interest to be payable over the life of these bonds is $1,092 million.

12. 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 October 4, 2005. 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 4.22%. The amount outstanding represents the indexed value of the principal.

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

14. 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.

41

15. 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, 2013, 2014 and 2015, fixed-rate bonds were issued for a term of three and ten years only.

OSB - Step-up Rate:

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%,

2014 Series: Interest is payable at 1.25%, 1.5%, 2.0%, 2.25% and 2.5%,

2015 Series: Interest is payable at 0.75%, 0.9%, 1.05%, 1.2% and 1.35%,

in year 1, 2, 3, 4 and 5 respectively.

OSB – Variable Rate:

Starting in 2009, the interest rate on the Variable Rate Bond is reset yearly, on June 21 only.

16. OSB: The outstanding amount represent bonds matured but not yet presented for redemption. Interest is payable on these bonds only up to the maturity date.

17. 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. 98.4 per cent of foreign currency debt is hedged as at March 31, 2016. The exchange rates of foreign currencies to Canadian dollars as at March 31, 2016 are: Australian dollar 0.99569, euro 1.477479, Japanese yen 0.011529, South African rand 0.088067, Swiss franc 1.350966, United States dollar 1.2974. 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 3.21%, EMTN in ZAR 4.97%

(b) EMTN in Euro: 3.54% ($10,084 million), 3M CBA + 1.37% ($1,784 million)

(c) Global in Euro: 4.00%

(d) Japan in Yen: 4.35%

(e) EMTN in CHF: 4.45% ($955 million)

(f) Canada in USD: 4.49%

(g) US in USD: 1.84% ($254 million)

(h) Global in USD: 3.46% ($18,943 million), 3M CBA + 0.20% ($14,360 million), 0.92% ($4,365 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 CHF 4.95%, EMTN in USD 4.22%, Global in USD 3M CBA + 0.32%.

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

19. 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.

20. 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 and $20m DMTN173.

Forest Renewal Trust: $1m DMTN215 and $3m DMTN207.

Infrastructure Ontario: $17m DMTN195, $62m DMTN218, $88m DMTN223 and $6m DMTN225.

Ontario Energy Board: $3m DMTN173 and $1m DMTN208.

Ontario Trillium Foundation: $12m DMTN173, $12m DMTN208, $12m DMTN218 and $12m DMTN213.

Ontario Immigrant Investor Corporation: $132m OIIC 139-180.

Treasury Bills:

Northern Ontario Heritage Fund Corporation: $200m, Ontario Capital Growth Corporation: $84m, Ontario

Immigrant Investor Corporation: $107m, Infrastructure Ontario: $500m, Forest Renewal Trust: $3m and Ontario

Trillium Foundation: $31m.

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SEC Registered Debt Outstanding for Province of Ontario

Date of Maturity	Date of Issue	Series	Interest Rate (%)	Issuing Currency	Outstanding
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 18, 2019	January 21, 2016	G71	1.625	USD		2,500,000,000
June 17, 2019	June 17, 2016	G73	1.25	USD		1,750,000,000
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
May 21, 2020	May 21, 2015	G70	1.875	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
January 27, 2023	January 29, 2016	G72	1.95	CAD		750,000,000
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
April 27, 2026	April 27, 2016	G69	2.50	USD		1,000,000,000

43

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

				Issuing
Date of Maturity	Date of Issue	Series	Interest Rate (%)	Currency	Outstanding
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

44

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, 2016, OEFC had total debt of $24.3 billion (2015, $25.3 billion). $18 billion of OEFC’s debt as at March 31, 2016 (2015, $19 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 wholly owned by the Province, and Hydro One Inc., a transmission and distribution business. Hydro One Inc. is now a subsidiary of Hydro One Limited (“Hydro One”) and, following an initial public offering on November 5, 2015, and a secondary offering in April 2016, the Province’s ownership was reduce to about 70% of the common shares in Hydro One. Legislation restricts the Province from owning less than 40% of the voting securities in Hydro One. Other Ontario Hydro successor companies are the Independent Electricity System Operator (IESO), the electricity system and market operator and the Electrical Safety Authority, which 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 Inc. and the IESO in exchange for debt. The Province assumed a portion of OPG’s and Hydro One Inc.’s debt in exchange for equity, in order to provide them with commercially acceptable capital structures. As of March 31, 2016, OEFC held notes receivable in the amount of $3.5 billion from OPG, $90 million from the IESO and $8.9 billion from the Province. OEFC provided indemnities, guaranteed by the Province, to OPG and Hydro One Inc. in connection with the Transfer Orders; those indemnities were terminated as of May 31, 2006 and October 31, 2015 respectively.

As of April 1, 1999, the Ministry of Finance estimated the amount of OEFC’s debt and other liabilities that, in the opinion of the Minister of Finance, could not reasonably be serviced and retired in a competitive electricity market (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 at March 31, 2016 was $4.4 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, 1998 (“Electricity Act”) and include payments-in-lieu of property taxes and federal and provincial corporate income taxes currently paid by OPG and the municipal electricity utilities. As a result of an initial public offering on November 5, 2015, Hydro One is no longer subject to payments-in-lieu of federal and provincial corporate income taxes and starts paying normal corporate income taxes. The Minister of Finance has legislative authority to make payments to the OEFC equal to the amount of provincial corporate tax payable by Hydro One Inc. under the Taxation Act, 2007.

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 Province’s proportionate share of 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”).

Under the Electricity Act, a Debt Retirement Charge (DRC) of 0.7 cents per kilowatt hour is levied on most Ontario electricity users and payable to OEFC. Prior to January 1, 2016, the DRC was payable by most electricity consumers. As of January 1, 2016, residential electricity users will be exempted from paying the DRC. The government introduced legislation, passed on December 10, 2015, the Budget Measures Act, 2015 to legislate a fixed end-date for the DRC of April 1, 2018, for commercial, industrial and all other users.

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. 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 IESO 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.

45

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, low and intermediate level nuclear waste management 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% 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% of the value of the guarantee. The current provincial guarantee is in effect through the end of 2017.

46

CONTINGENT LIABILITIES –

OBLIGATIONS GUARANTEED BY THE PROVINCE OF ONTARIO

As at March 31, 2016

LOANS GUARANTEED

	Year of Issue		Rate of Interest		Outstanding March 31, 2015		References
			%		$
MINISTRY OF AGRICULTURE AND FOOD / RURAL AFFAIRS
Commodity Loan Guarantee Program		Ongoing		Prime		9,956,396		(1)
Feeder Cattle Loan Guarantee Program		Ongoing		Various		27,617,214		(2)
FarmPlus Rural Loan Pool Program		Pre-2006		Various		35,596
TOTAL MINISTRY OF AGRICULTURE AND FOOD / RURAL AFFAIRS						37,609,206
MINISTRY OF TRAINING, COLLEGES AND UNIVERSITIES
Ontario Student Loan Plan:
Class “A”		Various		Prime		1,392,242
Class “B”		Various		Prime + 1		87,709
Class “C”		Various		Prime + 1		25,960,404
TOTAL MINISTRY OF TRAINING, COLLEGES AND UNIVERSITIES						27,440,355
TOTAL LOANS GUARANTEED						65,049,561

47

CONTINGENT LIABILITIES – OBLIGATIONS GUARANTEED BY THE

PROVINCE OF ONTARIO – Concluded

As at March 31, 2016

OTHER GUARANTEES

	Year of		Rate of		Outstanding
	Issue		Interest		March 31, 2016		References
			%		$
MINISTRY OF FINANCE
Loan Facility by United Communities Credit Union Ltd. to Pelee Island Co-operative Association		2010		4.75		513,936		(3)
Loan Guarantees under Aboriginal Loan Guarantee Program		2011		Various		191,000,000		(4)
TOTAL MINISTRY OF FINANCE						191,513,936
TOTAL OTHER GUARANTEES						191,513,936
TOTAL LOANS AND OTHER GUARANTEES						256,563,497

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 guarantee shall be extended accordingly but not to extend beyond April 1, 2035. The maximum amount guaranteed is $ 0.6 million plus any unpaid interest, costs and expenses thereon.

4. The Province has provided seven loan guarantees under Aboriginal Loan Guarantee Program: two in the fiscal year 2011-12, two in the fiscal year 2013-14, one in the fiscal year 2014-15 and two in fiscal year 2015-16 for a combined total of over $200 million. 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 $650 million.

48

Economic Data Tables

The following tables present a comprehensive review of Ontario’s economy including, GDP information, imports and exports, demographics and labour markets between 2002-2015.

49

Ontario, Gross Domestic Product, 2002–2015													Table 1
	($ Billions)
	2002		2003		2004		2005		2006		2007		2008
Real GDP (chained $2007)		545.9		552.1		567.6		585.8		596.8		601.7		601.7
Household Consumption		279.2		287.4		295.3		306.3		316.1		328.2		336.2
Government		116.7		122.0		126.7		128.9		134.6		135.2		140.4
Residential Construction		36.4		36.9		38.7		39.4		39.7		40.7		38.8
Non-residential Construction		13.9		13.5		13.4		13.6		15.3		16.3		15.4
Machinery and Equipment		19.9		21.3		23.1		26.0		28.2		28.0		28.3
Exports		312.1		312.8		328.5		335.9		338.3		339.5		317.8
Imports		254.2		262.4		280.7		289.5		300.9		312.4		304.9
Nominal Gross Domestic Product		494.8		509.5		533.4		556.6		578.2		601.7		608.4
Table 1 (continued)	($ Billions)
	2009		2010		2011		2012		2013		2014		2015
Real GDP (chained $2007)		582.9		600.1		614.6		622.7		631.9		648.9		665.0
Household Consumption		335.9		348.2		354.1		359.4		366.9		377.2		387.2
Government		146.7		154.7		152.2		150.8		148.5		149.9		152.8
Residential Construction		36.5		39.4		40.9		42.8		42.0		42.3		45.3
Non-residential Construction		14.5		14.8		18.1		19.6		18.7		20.2		22.1
Machinery and Equipment		21.7		23.8		24.6		24.3		21.6		22.6		24.1
Exports		276.1		298.3		313.8		321.4		332.3		347.0		356.6
Imports		270.9		302.1		317.6		320.7		323.7		336.8		349.1
Nominal Gross Domestic Product		597.9		631.0		659.7		680.1		695.3		728.0		763.3

Source: Statistics Canada.

50

Ontario, Growth in Gross Domestic Product, 2002–2015																			Table 2
	(Per Cent Change)
	2002			2003			2004			2005			2006			2007			2008
Real GDP (chained $2007)		3.4			1.1			2.8			3.2			1.9			0.8			0.0
Household Consumption		4.0			2.9			2.7			3.7			3.2			3.8			2.4
Government		2.8			4.5			3.9			1.7			4.4			0.4			3.9
Residential Construction		9.9			1.3			5.0			1.7			0.9			2.5			(4.7	)
Non-residential Construction		2.6			(2.8	)		(1.2	)		2.1			11.9			6.9			(5.3	)
Machinery and Equipment		(7.6	)		7.0			8.3			12.5			8.5			(0.8	)		1.3
Exports		1.7			0.2			5.0			2.2			0.7			0.4			(6.4	)
Imports		2.3			3.2			7.0			3.2			3.9			3.8			(2.4	)
Nominal Gross Domestic Product		5.5			3.0			4.7			4.4			3.9			4.1			1.1
Table 2 (continued)	(Per Cent Change)
	2009			2010			2011			2012			2013			2014			2015
Real GDP (chained $2007)		(3.1	)		3.0			2.4			1.3			1.5			2.7			2.5
Household Consumption		(0.1	)		3.6			1.7			1.5			2.1			2.8			2.7
Government		4.5			5.5			(1.6	)		(0.9	)		(1.6	)		0.9			1.9
Residential Construction		(6.0	)		8.1			3.6			4.7			(1.9	)		0.7			7.2
Non-residential Construction		(5.9	)		1.6			22.7			8.0			(4.4	)		7.7			9.7
Machinery and Equipment		(23.4	)		9.7			3.2			(0.9	)		(11.1	)		4.3			6.8
Exports		(13.1	)		8.0			5.2			2.4			3.4			4.4			2.8
Imports		(11.2	)		11.5			5.1			1.0			0.9			4.0			3.7
Nominal Gross Domestic Product		(1.7	)		5.5			4.6			3.1			2.2			4.7			4.9

Source: Statistics Canada.

51

Ontario, Selected Economic Indicators, 2002–2015													Table 3
	2002		2003		2004		2005		2006		2007		2008
Retail Sales ($ Billions)		121.0		125.1		128.9		135.1		140.6		146.0		151.7
Housing Starts – Units (000s)		83.6		85.2		85.1		78.8		73.4		68.1		75.1
Primary Household Income ($ Billions)		323.2		332.9		349.1		364.9		381.9		403.4		414.7
Net Operating Surplus – Corporations ($ Billions)		65.7		68.4		70.5		74.9		74.3		73.3		66.0
Consumer Price Index (2002 = 100)		100.0		102.7		104.6		106.9		108.8		110.8		113.3
Labour Force (000s)		6,496		6,677		6,772		6,834		6,887		6,992		7,074
Employment (000s)		6,034		6,213		6,314		6,381		6,452		6,546		6,610
Unemployment Rate (%)		7.1		6.9		6.8		6.6		6.3		6.4		6.6
Table 3 (continued)
	2009		2010		2011		2012		2013		2014		2015
Retail Sales ($ Billions)		148.1		156.3		161.9		164.5		168.3		176.7		184.1
Housing Starts – Units (000s)		50.4		60.4		67.8		76.7		61.1		59.1		70.2
Primary Household Income ($ Billions)		412.8		424.3		444.1		459.1		472.9		490.0		511.8
Net Operating Surplus – Corporations ($ Billions)		56.0		74.4		83.4		85.9		84.8		97.5		106.4
Consumer Price Index (2002 = 100)		113.7		116.5		120.1		121.8		123.0		125.9		127.4
Labour Force (000s)		7,080		7,161		7,227		7,276		7,384		7,419		7,426
Employment (000s)		6,433		6,538		6,658		6,703		6,823		6,878		6,923
Unemployment Rate (%)		9.1		8.7		7.9		7.9		7.6		7.3		6.8

Sources: Statistics Canada and Canada Mortgage and Housing Corporation.

52

Ontario, Selected Economic Indicators, Annual Change, 2002–2015																		Table 4
	(Per Cent Change)
	2002			2003		2004			2005			2006			2007			2008
Retail Sales		5.9			3.4		3.0			4.8			4.0			3.8			3.9
Housing Starts		14.1			1.9		(0.1	)		(7.4	)		(6.8	)		(7.2	)		10.2
Primary Household Income		2.4			3.0		4.9			4.5			4.6			5.6			2.8
Net Operating Surplus – Corporations		21.8			4.2		3.0			6.3			(0.9	)		(1.4	)		(9.9	)
Consumer Price Index		2.0			2.7		1.9			2.2			1.8			1.8			2.3
Labour Force		2.8			2.8		1.4			0.9			0.8			1.5			1.2
Employment		1.9			3.0		1.6			1.1			1.1			1.4			1.0
Table 4 (continued)	(Per Cent Change)
	2009			2010		2011			2012			2013			2014			2015
Retail Sales		(2.4	)		5.5		3.6			1.6			2.3			5.0			4.2
Housing Starts		(32.9	)		20.0		12.2			13.2			(20.4	)		(3.2	)		18.6
Primary Household Income		(0.5	)		2.8		4.7			3.4			3.0			3.6			4.4
Net Operating Surplus – Corporations		(15.2	)		32.9		12.1			3.0			(1.2	)		14.9			9.1
Consumer Price Index		0.4			2.5		3.1			1.4			1.0			2.4			1.2
Labour Force		0.1			1.1		0.9			0.7			1.5			0.5			0.1
Employment		(2.7	)		1.6		1.8			0.7			1.8			0.8			0.7

Sources: Statistics Canada and Canada Mortgage and Housing Corporation.

53

Ontario, Real Gross Domestic Product by Industry at Basic Prices, 2012–2015							Table 5
	($2007 Chained Millions)
	2012		2013		2014		2015
Goods Producing Industries		136,103		136,622		139,888		142,289
Primary		12,680		13,720		13,684		13,322
Utilities		11,542		11,510		11,602		11,278
Construction		34,823		35,065		35,604		37,551
Manufacturing1		76,494		75,766		78,440		79,290
Services Producing Industries		442,389		449,954		461,770		474,789
Wholesale Trade		38,662		40,144		42,158		43,873
Retail Trade		29,562		31,074		32,422		33,625
Transportation and Warehousing		21,905		22,351		23,428		24,255
Information and Cultural (incl. Telecommunications)		21,567		21,310		21,650		21,803
Finance and Insurance		52,786		54,991		57,149		60,350
Real Estate and Leasing		77,240		78,825		80,799		83,619
Professional and Administrative Services		54,474		54,796		55,783		57,033
Management of Companies and Enterprises		4,559		4,831		4,848		5,024
Education		33,975		34,475		34,852		35,076
Health Care and Social Services		39,631		39,074		39,692		40,540
Arts, Entertainment and Recreation		4,369		4,370		4,425		4,758
Accommodation and Food		10,861		11,436		11,863		12,217
Other Services		11,118		11,521		11,800		11,816
Public Administration		41,733		41,227		41,644		41,807
Total Production		578,794		586,913		602,010		617,457

¹  See Table 7 for detailed manufacturing industries.

Source: Statistics Canada.

54

Ontario, Growth in Real Gross Domestic Product by Industry at Basic Prices, 2012–2015										Table 6
	(Per Cent Change)
	2012			2013			2014			2015
Goods Producing Industries		1.5			0.4			2.4			1.7
Primary		(0.7	)		8.2			(0.3	)		(2.6	)
Utilities		(3.9	)		(0.3	)		0.8			(2.8	)
Construction		2.8			0.7			1.5			5.5
Manufacturing1		2.0			(1.0	)		3.5			1.1
Services Producing Industries		1.4			1.7			2.6			2.8
Wholesale Trade		3.5			3.8			5.0			4.1
Retail Trade		(0.6	)		5.1			4.3			3.7
Transportation and Warehousing		(0.3	)		2.0			4.8			3.5
Information and Cultural (incl. Telecommunications)		0.7			(1.2	)		1.6			0.7
Finance and Insurance		2.2			4.2			3.9			5.6
Real Estate and Leasing		2.5			2.1			2.5			3.5
Professional and Administrative Services		2.2			0.6			1.8			2.2
Management of Companies and Enterprises		(0.2	)		6.0			0.4			3.6
Education		2.1			1.5			1.1			0.6
Health Care and Social Services		0.9			(1.4	)		1.6			2.1
Arts, Entertainment and Recreation		0.0			0.0			1.3			7.5
Accommodation and Food		2.6			5.3			3.7			3.0
Other Services		1.8			3.6			2.4			0.1
Public Administration		(1.6	)		(1.2	)		1.0			0.4
Total Production		1.4			1.4			2.6			2.6

¹  See Table 8 for detailed manufacturing industries.

Source: Statistics Canada.

55

Ontario, Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2012–2015							Table 7
	($2007 Chained Millions)
	2012		2013		2014		2015
Manufacturing		76,494		75,766		78,440		79,290
Food, Beverage and Tobacco Products		11,425		11,375		11,617		11,734
Textile, Clothing and Leather Products		935		846		890		908
Wood Products and Furniture		2,921		3,116		3,165		3,383
Paper Products and Printing		4,820		4,638		4,663		4,813
Chemical and Petroleum Products		7,917		8,118		8,225		8,305
Plastic and Rubber Products		4,239		4,328		4,331		4,560
Primary Metal and Fabricated Metal Products		11,127		11,195		11,909		11,261
Machinery		5,823		5,792		5,866		6,221
Electrical and Electronic Products		5,448		4,929		5,137		5,185
Transportation Equipment		18,058		17,492		18,826		18,877
Other Manufacturing		4,018		4,101		4,198		4,255

Source: Statistics Canada.

56

Ontario, Growth in Real Gross Domestic Product at Basic Prices in Selected Manufacturing Industries, 2012–2015									Table 8
	(Per Cent Change)
	2012			2013			2014		2015
Manufacturing		2.0			(1.0	)		3.5		1.1
Food, Beverage and Tobacco Products		0.6			(0.4	)		2.1		1.0
Textile, Clothing and Leather Products		(1.0	)		(9.4	)		5.2		2.0
Wood Products and Furniture		1.4			6.7			1.6		6.9
Paper Products and Printing		0.3			(3.8	)		0.5		3.2
Chemical and Petroleum Products		2.5			2.5			1.3		1.0
Plastic and Rubber Products		3.9			2.1			0.1		5.3
Primary Metal and Fabricated Metal Products		1.6			0.6			6.4		(5.4	)
Machinery		4.2			(0.5	)		1.3		6.1
Electrical and Electronic Products		(12.8	)		(9.5	)		4.2		0.9
Transportation Equipment		10.3			(3.1	)		7.6		0.3
Other Manufacturing		(2.5	)		2.0			2.4		1.4

Source: Statistics Canada.

57

Ontario, Housing Market Indicators, 2012–2015										Table 9
	2012			2013			2014			2015
New Housing Market
Residential Construction, Current $ Millions		50,100			50,332			52,540			58,962
Per Cent Change		9.0			0.5			4.4			12.2
Real Residential Construction ($2007 Millions)		42,778			42,068			42,220			46,025
Per Cent Change		4.7			(1.7	)		0.4			9.0
Housing Starts (Units)		76,742			61,085			59,134			70,156
Per Cent Change		13.2			(20.4	)		(3.2	)		18.6
Of which: Single-detached, urban areas (Units)		23,580			21,312			21,352			23,446
Per Cent Change		(5.3	)		(9.6	)		0.2			9.8
Multiple, urban areas (Units)		50,834			37,303			34,813			44,845
Per Cent Change		26.0			(26.6	)		(6.7	)		28.8
New Housing Price Index (2007 = 100)		114.4			116.8			118.7			121.7
Per Cent Change		4.1			2.1			1.7			2.5
Resale Market
Home Resales (Units)		195,687			196,394			204,189			223,794
Per Cent Change		(1.8	)		0.4			4.0			9.6
Average Resale Price ($)		385,042			403,788			432,079			465,551
Per Cent Change		5.4			4.9			7.0			7.7

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

58

Selected Financial Indicators, 2002–2015													Table 10
	(Per Cent)
	2002		2003		2004		2005		2006		2007		2008
Interest Rates
Bank Rate		2.7		3.2		2.5		2.9		4.3		4.6		3.2
Prime Rate		4.2		4.7		4.0		4.4		5.8		6.1		4.7
10-Year Government Bonds		5.3		4.8		4.6		4.1		4.2		4.3		3.6
Three-month T-Bills		2.6		2.9		2.2		2.7		4.0		4.1		2.3
Mortgage Rates
5-Year Rate		7.0		6.4		6.2		6.0		6.7		7.1		7.1
1-Year Rate		5.2		4.8		4.6		5.1		6.3		6.9		6.7
Canadian Household Debt Burden1
Consumer		36.0		38.3		41.3		44.2		45.4		47.2		48.6
Mortgage		68.3		71.4		75.2		79.4		82.4		88.1		91.5
Bank Loans		6.6		6.5		6.4		6.9		7.6		8.0		8.1
Other Loans		2.4		2.3		1.5		1.8		1.8		1.9		2.1
Total		113.3		118.5		124.5		132.3		137.2		145.2		150.3
Table 10 (continued)	(Per Cent)
	2009		2010		2011		2012		2013		2014		2015
Interest Rates
Bank Rate		0.6		0.9		1.3		1.3		1.3		1.3		0.9
Prime Rate		2.4		2.6		3.0		3.0		3.0		3.0		2.8
10-Year Government Bonds		3.3		3.2		2.8		1.9		2.3		2.2		1.5
Three-month T-Bills		0.3		0.6		0.9		0.9		1.0		0.9		0.5
Mortgage Rates
5-Year Rate		5.6		5.6		5.4		5.3		5.2		4.9		4.7
1-Year Rate		4.0		3.5		3.5		3.2		3.1		3.1		3.0
Canadian Household Debt Burden1
Consumer		52.3		51.6		51.2		50.5		49.9		49.9		49.4
Mortgage		96.2		99.0		101.3		103.0		103.5		105.7		108.3
Bank Loans		8.0		7.8		7.6		7.6		7.5		7.4		7.7
Other Loans		2.1		2.2		2.3		2.1		2.2		2.2		2.2
Total		158.6		160.6		162.3		163.1		163.1		165.2		167.6

¹ Household debt 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.

59

Ontario, International Merchandise Exports1 by Major Commodity2, 2015						Table 11
		Value ($ Millions)		2015 Growth (Per Cent)		Per Cent of Total
1	Motor vehicles and parts		68,644		14.3		34.9
2	Precious metals & stones		20,318		2.4		10.3
3	Mechanical equipment		19,371		19.4		9.8
4	Electrical machinery		7,408		15.5		3.8
5	Plastic products		7,356		12.0		3.7
6	Pharmaceutical products		6,888		18.2		3.5
7	Iron and steel		4,604		-11.0		2.3
8	Furniture and accessories		3,919		17.9		2.0
9	Nickel & articles thereof		3,697		-0.3		1.9
10	Scientific, photo & medical equipment		3,270		16.4		1.7
11	Oils & other petroleum products		3,209		-9.8		1.6
12	Cereal and baked products		3,122		20.5		1.6
13	Aircraft and parts		2,988		13.1		1.5
14	Iron and steel products		2,789		-0.1		1.4
15	Aluminium & articles		2,552		20.2		1.3
16	Paper products		2,348		13.2		1.2
17	Inorganic chemicals		1,844		13.0		0.9
18	Rubber products		1,659		-6.3		0.8
19	Miscellaneous chemical products		1,631		7.3		0.8
20	Organic chemicals		1,538		-21.7		0.8
21	Seeds and miscellaneous grains		1,485		23.0		0.8
22	Wood products		1,463		18.8		0.7
23	Vegetables		1,209		16.1		0.6
24	Perfumes and cosmetics		1,133		15.2		0.6
25	Miscellaneous base metal articles		1,085		22.2		0.6
	All other commodities		21,430		11.0		10.9
	Total Exports		196,961		11.1		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.

60

Ontario, International Merchandise Imports by Major Commodity1, 2015						Table 12
		Value ($ Millions)		2015 Growth (Per Cent)		Per Cent of Total
1	Motor vehicles and parts		68,950		12.0		21.2
2	Mechanical equipment		49,082		13.0		15.1
3	Electrical machinery		37,291		12.6		11.5
4	Pharmaceutical products		12,281		6.7		3.8
5	Plastic products		12,120		10.3		3.7
6	Precious metals & stones		11,857		-0.7		3.6
7	Scientific, photo & med eqmt		10,321		13.1		3.2
8	Furniture and accessories		6,336		12.3		1.9
9	Iron and steel products		6,119		8.9		1.9
10	Iron and steel		5,306		-9.1		1.6
11	Organic chemicals		5,291		19.2		1.6
12	Oils & other petroleum products		5,269		-30.6		1.6
13	Aircraft and parts		4,282		37.0		1.3
14	Paper products		4,209		12.0		1.3
15	Rubber products		4,180		10.7		1.3
16	Aluminium & articles		3,287		14.5		1.0
17	Perfumes and cosmetics		3,209		20.2		1.0
18	Toys and sporting goods		3,029		13.1		0.9
19	Fruit and nuts		2,930		12.1		0.9
20	Miscellaneous chemical products		2,914		4.9		0.9
21	Cereal and baked products		2,726		20.2		0.8
22	Miscellaneous food products		2,441		17.4		0.8
23	Non-knitted clothes		2,428		13.9		0.7
24	Beverages		2,422		10.5		0.7
25	Knitted clothes		2,347		11.7		0.7
	All other commodities		52,503		10.0		16.1
	Domestic Imports		323,131		10.0		99.4
	Re-imports2		2,022		3.2		0.6
	Total Imports		325,153		10.0		100.0

¹ Product groupings based on two-digit Harmonized System codes. Data reported on a customs basis. Domestic imports exclude re-imports. Total imports are the sum of domestic imports and re-imports.

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.

61

Ontario, International Merchandise Exports1 by Top 25 Trading Partners, 2015						Table 13
		Exports ($ Millions)		2015 Growth (Per Cent)		Per Cent of Total
1	United States		158,594		12.9		80.5
2	United Kingdom		12,544		10.3		6.4
3	Mexico		2,803		36.5		1.4
4	Hong Kong		2,506		-23.3		1.3
5	China		2,421		17.4		1.2
6	Norway		1,476		-19.1		0.7
7	Japan		1,424		-28.1		0.7
8	Germany		1,320		17.9		0.7
9	Italy		949		-14.4		0.5
10	France		870		6.8		0.4
11	Netherlands		817		28.4		0.4
12	Switzerland		771		-28.5		0.4
13	Belgium		743		2.0		0.4
14	South Korea		599		26.0		0.3
15	Saudi Arabia		574		5.8		0.3
16	United Arab Emirates		554		31.6		0.3
17	Australia		552		13.2		0.3
18	Singapore		523		12.5		0.3
19	Brazil		516		41.0		0.3
20	India		504		63.9		0.3
21	Botswana		408		22.0		0.2
22	Ireland		378		59.0		0.2
23	Taiwan		282		31.8		0.1
24	Malaysia		222		5.9		0.1
25	Thailand		219		24.3		0.1
	All other countries		4,390		-2.2		2.2
	Total		196,961		11.1		100.0

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

Sources: Statistics Canada and Ontario Ministry of Finance.

62

Ontario, International Merchandise Imports1 by Top 25 Trading Partners, 2015						Table 14
		Imports ($ Millions)		2015 Growth (Per Cent)		Per Cent of Total
1	United States		182,011		8.4		56.0
2	China		39,447		15.5		12.1
3	Mexico		24,857		11.8		7.6
4	Japan		10,306		16.0		3.2
5	Germany		8,571		11.6		2.6
6	South Korea		5,373		11.1		1.7
7	United Kingdom		4,347		13.2		1.3
8	Italy		3,736		15.8		1.1
9	Switzerland		3,622		20.0		1.1
10	France		2,925		21.6		0.9
11	Taiwan		2,867		20.0		0.9
12	Peru		2,473		10.8		0.8
13	Vietnam		2,303		68.4		0.7
14	India		1,928		18.9		0.6
15	Thailand		1,858		9.9		0.6
16	Malaysia		1,744		6.8		0.5
17	Brazil		1,530		21.0		0.5
18	Argentina		1,485		-11.2		0.5
19	Spain		1,201		11.8		0.4
20	Belgium		1,059		-11.9		0.3
21	Ireland		1,057		9.8		0.3
22	Sweden		1,014		8.6		0.3
23	Dominican Republic		918		-42.7		0.3
24	Netherlands		889		4.7		0.3
25	Chile		805		11.6		0.2
	All other countries		14,806		3.4		5.2
	Domestic Imports		323,131		10.0		99.4
	Re-imports		2,022		3.2		0.6
	Total		325,153		10.0		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.

63

Ontario, Selected Demographic Characteristics, 2008–20161																	Table 15
	2008		2009		2010		2011		2012		2013		2014		2015		2016
Total Population (000s)		12,883		12,998		13,135		13,264		13,414		13,556		13,685		13,797		13,983
Annual Average Growth Over Preceding Year (%)		0.9		0.9		1.1		1.0		1.1		1.1		1.0		0.8		1.3
Median Age (Years)		39.0		39.3		39.6		39.8		40.0		40.2		40.4		40.6		40.6
Age Group Shares (%)
0–4		5.4		5.4		5.4		5.4		5.3		5.3		5.2		5.2		5.2
5–14		11.9		11.7		11.4		11.2		11.0		10.9		10.8		10.7		10.6
15–24		13.7		13.7		13.7		13.7		13.7		13.6		13.4		13.2		13.1
25–44		28.4		27.8		27.4		27.1		27.0		26.8		26.7		26.7		26.7
45–64		27.2		27.7		28.1		28.4		28.3		28.2		28.2		28.1		28.0
65–74		7.1		7.3		7.4		7.6		8.0		8.4		8.7		9.0		9.2
75+		6.4		6.4		6.5		6.6		6.7		6.8		7.0		7.1		7.2
Total Fertility Rate2		1.6		1.6		1.6		1.6		—		—		—		—		—
Life Expectancy at Birth (Years)3
Female		83.3		83.5		83.8		84.0		—		—		—		—		—
Male		78.9		79.2		79.5		79.8		—		—		—		—		—
Families (000s)4		—		—		—		3,612		—		—		—		—		—
Households (000s)4		—		—		—		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.

64

Ontario, Components of Population Growth, 2006–07 to 2015–161									Table 16
	(Thousands)
	2006–07		2007–08		2008–09		2009–10		2010–11
Population at Beginning of Period		12,662		12,764		12,883		12,998		13,135
Births		137		141		140		140		139
Deaths		87		88		88		88		91
Immigrants		115		115		105		117		105
Net Emigrants2		20		21		18		15		15
Net Change in Non-permanent Residents		2		11		16		13		15
Interprovincial Arrivals		59		62		57		60		58
Interprovincial Departures		79		76		73		64		62
Population Growth During Period		103		118		115		137		128
Population at End of Period3		12,764		12,883		12,998		13,135		13,264
Population Growth (%)		0.8		0.9		0.9		1.1		1.0
Table 16 (continued)	(Thousands)
	2011–12		2012–13		2013–14		2014–15		2015–16
Population at Beginning of Period		13,264		13,414		13,556		13,685		13,797
Births		141		142		144		146		147
Deaths		88		92		96		99		103
Immigrants		101		106		102		90		120
Net Emigrants2		17		17		18		18		18
Net Change in Non-permanent Residents		24		17		11		3		34
Interprovincial Arrivals		60		55		57		63		71
Interprovincial Departures		71		69		72		72		65
Population Growth During Period		150		143		129		112		186
Population at End of Period3		13,414		13,556		13,685		13,797		13,983
Population Growth (%)		1.1		1.1		1.0		0.8		1.3

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.

65

Ontario, Labour Force, 2002–2015													Table 17
	2002		2003		2004		2005		2006		2007		2008
Labour Force (000s)		6,496		6,677		6,772		6,834		6,887		6,992		7,074
Annual Labour Force Growth (%)		2.8		2.8		1.4		0.9		0.8		1.5		1.2
Participation Rate (%)
Male		73.7		74.3		74.1		73.5		72.6		72.5		72.5
Female		62.0		62.9		62.9		62.6		62.6		63.2		63.1
Share of Labour Force (%)
Youth (15–24)		16.4		16.4		16.3		16.1		16.1		16.2		16.0
Older Workers (45+)		33.5		34.8		35.5		36.4		37.5		38.4		39.7
Table 17 (continued)
	2009		2010		2011		2012		2013		2014		2015
Labour Force (000s)		7,080		7,161		7,227		7,276		7,384		7,419		7,426
Annual Labour Force Growth (%)		0.1		1.1		0.9		0.7		1.5		0.5		0.1
Participation Rate (%)
Male		71.5		71.1		71.1		70.7		70.5		70.3		70.0
Female		62.6		62.8		62.3		61.9		62.2		61.6		60.7
Share of Labour Force (%)
Youth (15–24)		15.5		15.1		15.3		14.9		15.0		15.1		14.8
Older Workers (45+)		40.9		41.8		42.3		42.6		42.7		43.0		43.2

Source: Statistics Canada.

66

Ontario, Employment, 2002–2015														Table 18
	2002			2003		2004		2005		2006		2007		2008
Total Employment (000s)		6,034			6,213		6,314		6,381		6,452		6,546		6,610
Male		3,213			3,302		3,352		3,385		3,400		3,411		3,445
Female		2,821			2,911		2,962		2,996		3,053		3,135		3,165
Annual Employment Growth (%)		1.9			3.0		1.6		1.1		1.1		1.4		1.0
Net Job Creation (000s)		113			179		101		67		71		93		65
Public-sector Employment (000s)		1,037			1,051		1,110		1,137		1,163		1,196		1,261
Private-sector Employment (000s)		4,105			4,245		4,267		4,309		4,351		4,366		4,346
Self-employment (000s)		892			916		937		935		939		983		1,004
Manufacturing Employment (% of total)		18.1			17.6		17.5		16.7		15.5		14.3		13.4
Services Employment (% of total)		73.5			73.7		73.9		74.3		75.4		76.6		77.3
Part-time (% of total)		18.3			18.5		18.2		18.2		17.9		18.2		18.8
Average Hours Worked Per Week1		37.3			36.6		37.1		37.2		36.8		37.1		36.7
Table 18 (continued)
	2009			2010		2011		2012		2013		2014		2015
Total Employment (000s)		6,433			6,538		6,658		6,703		6,823		6,878		6,923
Male		3,301			3,364		3,450		3,472		3,523		3,567		3,607
Female		3,132			3,174		3,208		3,231		3,301		3,311		3,316
Annual Employment Growth (%)		(2.7	)		1.6		1.8		0.7		1.8		0.8		0.7
Net Job Creation (000s)		(178	)		105		121		44		121		55		45
Public-sector Employment (000s)		1,233			1,255		1,294		1,286		1,314		1,305		1,294
Private-sector Employment (000s)		4,195			4,268		4,340		4,373		4,447		4,517		4,541
Self-employment (000s)		1,005			1,015		1,024		1,044		1,063		1,056		1,088
Manufacturing Employment (% of total)		12.0			11.7		11.6		11.6		11.2		10.9		10.8
Services Employment (% of total)		78.8			78.9		78.8		78.9		79.5		79.9		79.8
Part-time (% of total)		19.6			19.6		19.3		19.3		19.6		19.5		18.8
Average Hours Worked Per Week1		35.9			36.0		36.3		36.5		36.3		35.8		36.3

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

Source: Statistics Canada.

67

Ontario, Unemployment, 2002–2015													Table 19
	2002		2003		2004		2005		2006		2007		2008
Total Unemployment (000s)		461		464		458		453		435		446		464
Unemployment Rate (%)		7.1		6.9		6.8		6.6		6.3		6.4		6.6
Male		7.4		7.1		6.9		6.7		6.4		6.8		6.9
Female		6.8		6.8		6.6		6.6		6.3		6.0		6.2
Toronto CMA1		7.4		7.7		7.5		7.0		6.6		6.8		6.9
Northern Ontario		8.1		7.4		7.8		7.0		7.4		6.9		6.7
Youth (15–24)		13.9		14.4		14.1		13.9		13.2		12.9		13.8
Older Workers (45+)		4.7		4.7		4.5		4.7		4.3		4.5		4.9
Share of Total Unemployment (%)
Long-term Unemployed (27 weeks+)		15.5		16.2		15.5		15.1		14.3		13.0		13.7
Youth (15–24)		32.1		34.0		34.2		33.8		33.7		32.8		33.5
Older Workers (45+)		22.1		23.6		23.5		26.0		25.6		27.2		29.8
Average Duration (weeks)		16.3		17.0		16.1		16.0		15.8		14.6		14.8
Youth (15–24)		9.4		9.4		8.8		8.7		8.7		8.1		8.4
Older Workers (45+)		24.5		27.3		24.3		23.9		23.7		22.4		20.9
Table 19 (continued)
	2009		2010		2011		2012		2013		2014		2015
Total Unemployment (000s)		648		623		569		574		560		541		503
Unemployment Rate (%)		9.1		8.7		7.9		7.9		7.6		7.3		6.8
Male		10.5		9.4		8.2		8.3		8.0		7.5		7.0
Female		7.7		8.0		7.6		7.5		7.2		7.1		6.5
Toronto CMA1		9.6		9.1		8.4		8.7		8.1		8.0		7.0
Northern Ontario		9.0		8.3		7.8		7.2		7.4		6.6		7.2
Youth (15–24)		17.6		17.4		15.9		17.0		16.2		15.7		14.7
Older Workers (45+)		6.8		6.6		5.9		5.8		5.5		5.3		4.9
Share of Total Unemployment (%)
Long-term Unemployed (27 weeks+)		18.8		24.9		24.1		22.7		22.9		22.8		20.0
Youth (15–24)		29.8		30.3		30.9		32.1		32.1		32.4		32.1
Older Workers (45+)		30.4		31.8		31.6		31.3		31.2		31.1		31.1
Average Duration (weeks)		18.4		22.0		22.4		22.2		21.8		22.4		20.0
Youth (15–24)		11.1		11.4		12.2		12.7		12.7		13.4		12.4
Older Workers (45+)		26.3		31.3		32.8		32.0		29.5		31.7		28.6

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.

68

Employment Insurance (EI), 2002–2015													Table 20
	2002		2003		2004		2005		2006		2007		2008
EI Regular Beneficiaries1 (000s)
Ontario		136		142		137		132		129		131		142
Canada		556		564		541		516		494		479		486
EI Total Benefit Payments2 ($ millions)
Ontario		3,671		3,795		3,828		3,799		3,839		4,045		4,369
Canada		12,596		12,926		12,884		12,696		12,425		12,425		13,015
EI Contributions ($ millions)
Ontario3		7,384		7,219		6,895		7,108		6,975		6,921		6,718
Canada4		17,995		17,724		16,578		17,161		15,884		16,709		16,737
EI Premium Rate5 (% insured earnings)
Employer		3.08		2.94		2.77		2.73		2.62		2.52		2.42
Employee		2.20		2.10		1.98		1.95		1.87		1.80		1.73
Table 20 (continued)
	2009		2010		2011		2012		2013		2014		2015
EI Regular Beneficiaries1 (000s)
Ontario		246		216		175		159		155		147		144
Canada		734		684		583		535		503		489		515
EI Total Benefit Payments2 ($ millions)
Ontario		6,721		6,117		5,330		5,180		5,213		5,321		5,444
Canada		18,684		17,881		16,050		15,662		15,365		15,869		17,094
EI Contributions ($ millions)
Ontario3		6,745		6,919		7,288		7,776		8,422		8,629		8,915
Canada4		16,502		17,227		18,221		19,558		21,492		22,141		22,874
EI Premium Rate5 (% insured earnings)
Employer		2.42		2.42		2.49		2.56		2.63		2.63		2.63
Employee		1.73		1.73		1.78		1.83		1.88		1.88		1.88

¹  Figures are reported by Statistics Canada (year-to-date average).

²  Figures for Ontario and Canada EI Benefit Payments are Ontario Ministry of Finance estimates based on Statistics Canada CANSIM Table 276-0018. EI Total Benefit Payments do not include amounts related to Employment Benefits and Support Measures, delivered under Part II of the Employment Insurance Act.

³  Figures for Ontario EI Contributions are Ontario Ministry of Finance estimates based on data from provincial and territorial economic accounts and data reported by the federal Department of Finance.

⁴  Figures for Canada EI Contributions are reported by the federal Department of Finance as part of the Fiscal Monitor.

⁵  EI premiums are collected on total earnings from the first dollar earned to the maximum insurable earnings.

Note: In 2016, the EI maximum weekly benefit is $537, which is equal to 55 per cent of EI maximum insurable earnings of $50,800.

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

69

Ontario, Labour Compensation, 2002–2015																		Table 21
	2002			2003			2004			2005		2006			2007			2008
Average Weekly Earnings ($)1		711.29			728.70			748.98			776.33		788.78			819.18			838.34
Increase (%)		2.2			2.4			2.8			3.7		1.6			3.9			2.3
CPI Inflation (%)		2.0			2.7			1.9			2.2		1.8			1.8			2.3
AWE Increase Less CPI Inflation (%)		0.2			(0.3	)		0.9			1.5		(0.2	)		2.1			0.0
AWE – Manufacturing ($)		886.12			907.54			935.28			960.47		961.39			997.55			999.82
Increase (%)		1.9			2.4			3.1			2.7		0.1			3.8			0.2
Increase Less CPI Inflation (%)		(0.1	)		(0.3	)		1.2			0.5		(1.7	)		2.0			(2.1	)
Wage Settlement Increases (%)2
All Sectors		3.0			3.1			2.9			2.7		2.5			3.0			2.7
Public		2.9			3.5			3.1			2.7		3.0			3.1			3.1
Private		3.0			1.9			2.7			2.4		1.8			2.9			2.0
Person Days Lost Due to Strikes and
Lockouts (000s)		1,511			495			487			403		395			389			282
Minimum Wage at Year-end ($/hour)		6.85			6.85			7.15			7.45		7.75			8.00			8.75
Table 21 (continued)
	2009			2010			2011			2012		2013			2014			2015
Average Weekly Earnings ($)1		849.07			881.44			893.44			906.15		920.24			938.27			962.73
Increase (%)		1.3			3.8			1.4			1.4		1.6			2.0			2.6
CPI Inflation (%)		0.4			2.5			3.1			1.4		1.0			2.4			1.2
AWE Increase Less CPI Inflation (%)		0.9			1.3			(1.7	)		0.0		0.6			(0.4	)		1.4
AWE – Manufacturing ($)		950.19			999.38			1,006.53			1,036.99		1,050.75			1,071.83			1,107.35
Increase (%)		(5.0	)		5.2			0.7			3.0		1.3			2.0			3.3
Increase Less CPI Inflation (%)		(5.4	)		2.7			(2.4	)		1.6		0.3			(0.4	)		2.1
Wage Settlement Increases (%)2
All Sectors		2.2			2.0			1.7			1.3		1.0			1.5			1.0
Public		2.4			1.9			1.6			1.4		0.5			1.4			0.8
Private		1.2			2.0			1.9			1.2		2.3			1.9			1.7
Person Days Lost Due to Strikes and
Lockouts (000s)		1,550			705			352			201		288			132			337
Minimum Wage at Year-end ($/hour)		9.50			10.25			10.25			10.25		10.25			11.00			11.25

¹  Average Weekly Earnings (AWE) includes overtime.

²  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.

70

Ontario, Employment by Occupation, 2004–2015											Table 22
	(Thousands)
	2004		2005		2006		2007		2008		2009
Management		665		676		707		688		710		689
Business, Finance and Administration		1,105		1,080		1,090		1,091		1,145		1,111
Natural and Applied Sciences		434		464		463		479		493		465
Health		342		345		353		368		383		394
Education, Law and Social, Community and Government Services		574		633		638		685		704		719
Art, Culture, Recreation and Sport		187		182		186		198		208		203
Sales and Service		1,451		1,471		1,529		1,601		1,562		1,559
Trades, Transport and Equipment Operators		880		889		883		877		901		860
Natural Resources, Agriculture and Related Production		92		94		108		104		89		87
Manufacturing and Utilities		584		547		495		457		417		346
Total		6,314		6,381		6,452		6,546		6,610		6,433
Table 22 (continued)	(Thousands)
	2010		2011		2012		2013		2014		2015
Management		681		660		684		660		635		619
Business, Finance and Administration		1,113		1,161		1,146		1,156		1,150		1,169
Natural and Applied Sciences		495		506		499		509		555		566
Health		400		429		430		444		457		462
Education, Law and Social, Community and Government Services		735		723		748		769		761		802
Art, Culture, Recreation and Sport		215		216		200		222		216		224
Sales and Service		1,601		1,601		1,639		1,700		1,726		1,704
Trades, Transport and Equipment Operators		853		886		891		894		895		911
Natural Resources, Agriculture and Related Production		88		97		90		87		101		95
Manufacturing and Utilities		358		379		376		382		382		371
Total		6,538		6,658		6,703		6,823		6,878		6,923

Note: Occupation estimates are based on the 2011 National Occupational Classification (NOC).

Source: Statistics Canada.

71

Ontario, Distribution of Employment by Occupation, 2004–2015											Table 23
	(Per Cent)
	2004		2005		2006		2007		2008		2009
Management		10.5		10.6		11.0		10.5		10.7		10.7
Business, Finance and Administration		17.5		16.9		16.9		16.7		17.3		17.3
Natural and Applied Sciences		6.9		7.3		7.2		7.3		7.5		7.2
Health		5.4		5.4		5.5		5.6		5.8		6.1
Education, Law and Social, Community and Government Services		9.1		9.9		9.9		10.5		10.6		11.2
Art, Culture, Recreation and Sport		3.0		2.9		2.9		3.0		3.1		3.2
Sales and Service		23.0		23.1		23.7		24.5		23.6		24.2
Trades, Transport and Equipment Operators		13.9		13.9		13.7		13.4		13.6		13.4
Natural Resources, Agriculture and Related Production		1.5		1.5		1.7		1.6		1.3		1.4
Manufacturing and Utilities		9.2		8.6		7.7		7.0		6.3		5.4
Total		100.0		100.0		100.0		100.0		100.0		100.0
Table 23 (continued)	(Per Cent)
	2010		2011		2012		2013		2014		2015
Management		10.4		9.9		10.2		9.7		9.2		8.9
Business, Finance and Administration		17.0		17.4		17.1		16.9		16.7		16.9
Natural and Applied Sciences		7.6		7.6		7.4		7.5		8.1		8.2
Health		6.1		6.4		6.4		6.5		6.6		6.7
Education, Law and Social, Community and Government Services		11.2		10.9		11.2		11.3		11.1		11.6
Art, Culture, Recreation and Sport		3.3		3.2		3.0		3.3		3.1		3.2
Sales and Service		24.5		24.0		24.5		24.9		25.1		24.6
Trades, Transport and Equipment Operators		13.1		13.3		13.3		13.1		13.0		13.2
Natural Resources, Agriculture and Related Production		1.3		1.4		1.3		1.3		1.5		1.4
Manufacturing and Utilities		5.5		5.7		5.6		5.6		5.6		5.4
Total		100.0		100.0		100.0		100.0		100.0		100.0

Note: Occupation estimates are based on the 2011 National Occupational Classification (NOC).

Source: Statistics Canada.

72

Ontario, Employment by Industry, 2006–2015									Table 24
	(Thousands)
	2006		2007		2008		2009		2010
Goods Producing Industries		1,587		1,534		1,502		1,365		1,381
Primary Industries		139		131		123		121		121
Manufacturing		997		939		883		774		764
Construction		404		406		433		415		442
Utilities		48		57		63		56		54
Services Producing Industries		4,865		5,011		5,108		5,068		5,157
Trade		1,012		1,018		1,017		1,007		1,009
Transportation and Warehousing		295		302		321		318		311
Finance, Insurance, Real Estate and Leasing		472		469		469		480		481
Professional, Scientific and Technical Services		449		470		489		480		512
Business, Building and Other Support		291		292		307		280		291
Educational Services		446		463		473		451		456
Health Care and Social Assistance		633		668		683		703		730
Information, Culture and Recreation		317		328		311		312		320
Accommodation and Food Services		377		404		397		384		393
Public Administration		313		331		356		354		357
Other Services		261		267		286		299		298
Total Employment		6,452		6,546		6,610		6,433		6,538

73

Table 24 (continued)	Ontario, Employment by Industry, 2006–2015
	(Thousands)
	2011		2012		2013		2014		2015
Goods Producing Industries		1,409		1,415		1,398		1,382		1,401
Primary Industries		129		126		120		115		120
Manufacturing		773		779		767		749		745
Construction		455		458		459		467		487
Utilities		52		52		52		51		49
Services Producing Industries		5,250		5,287		5,426		5,496		5,522
Trade		1,006		1,007		1,019		1,047		1,042
Transportation and Warehousing		323		313		336		329		321
Finance, Insurance, Real Estate and Leasing		497		496		510		512		544
Professional, Scientific and Technical Services		530		530		543		560		580
Business, Building and Other Support		296		296		328		335		333
Educational Services		459		465		483		495		515
Health Care and Social Assistance		751		769		791		798		813
Information, Culture and Recreation		335		320		312		316		310
Accommodation and Food Services		403		432		441		450		444
Public Administration		363		366		372		367		344
Other Services		288		295		292		287		276
Total Employment		6,658		6,703		6,823		6,878		6,923

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

Source: Statistics Canada.

74

Ontario, Growth in Employment by Industry, 2006–2015													Table 25
	(Per Cent Change)
	2006			2007			2008			2009			2010
Goods Producing Industries		(3.1	)		(3.3	)		(2.1	)		(9.1	)		1.1
Primary Industries		8.6			(5.7	)		(6.0	)		(2.2	)		0.5
Manufacturing		(6.2	)		(5.8	)		(6.0	)		(12.4	)		(1.3	)
Construction		1.4			0.7			6.5			(4.1	)		6.5
Utilities		(1.0	)		20.1			9.4			(10.8	)		(3.0	)
Services Producing Industries		2.6			3.0			1.9			(0.8	)		1.8
Trade		2.0			0.6			(0.1	)		(1.0	)		0.2
Transportation and Warehousing		0.9			2.2			6.3			(1.0	)		(2.0	)
Finance, Insurance, Real Estate and Leasing		5.4			(0.8	)		0.1			2.4			0.1
Professional, Scientific and Technical Services		3.3			4.6			4.0			(1.8	)		6.6
Business, Building and Other Support		3.5			0.3			5.1			(8.8	)		3.9
Educational Services		4.5			3.9			2.2			(4.7	)		1.2
Health Care and Social Assistance		1.6			5.7			2.2			3.0			3.8
Information, Culture and Recreation		6.1			3.5			(5.2	)		0.3			2.5
Accommodation and Food Services		3.3			7.1			(1.7	)		(3.2	)		2.3
Public Administration		(3.4	)		5.9			7.5			(0.5	)		0.8
Other Services		1.2			2.5			7.1			4.6			(0.4	)
Total Employment		1.1			1.4			1.0			(2.7	)		1.6

75

Table 25 (continued)	Ontario, Growth in Employment by Industry, 2006–2015
	(Per Cent Change)
	2011			2012			2013			2014			2015
Goods Producing Industries		2.0			0.5			(1.3	)		(1.1	)		1.4
Primary Industries		6.3			(2.6	)		(4.6	)		(3.9	)		4.5
Manufacturing		1.2			0.8			(1.6	)		(2.4	)		(0.5	)
Construction		2.9			0.8			0.2			1.8			4.3
Utilities		(3.7	)		0.0			(1.0	)		(1.4	)		(3.3	)
Services Producing Industries		1.8			0.7			2.6			1.3			0.5
Trade		(0.3	)		0.1			1.2			2.7			(0.4	)
Transportation and Warehousing		3.6			(3.1	)		7.6			(2.2	)		(2.3	)
Finance, Insurance, Real Estate and Leasing		3.4			(0.3	)		2.9			0.4			6.1
Professional, Scientific and Technical Services		3.5			0.1			2.3			3.2			3.5
Business, Building and Other Support		1.8			0.2			10.6			2.1			(0.4	)
Educational Services		0.5			1.4			3.9			2.3			4.1
Health Care and Social Assistance		2.9			2.3			2.9			0.9			1.8
Information, Culture and Recreation		4.7			(4.5	)		(2.5	)		1.6			(2.2	)
Accommodation and Food Services		2.3			7.2			2.1			2.2			(1.3	)
Public Administration		1.8			0.7			1.6			(1.3	)		(6.2	)
Other Services		(3.3	)		2.4			(1.0	)		(1.7	)		(3.7	)
Total Employment		1.8			0.7			1.8			0.8			0.7

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

Source: Statistics Canada.

76

Ontario, Employment Level by Economic Regions, 2005–2015											Table 26
	(Thousands)
	2005		2006		2007		2008		2009		2010
Ontario		6,381		6,452		6,545		6,610		6,433		6,538
Region: 1
East		830		843		873		898		879		880
Ottawa (510)		623		641		658		678		666		676
Kingston-Pembroke (515)		207		203		215		220		213		203
Greater Toronto Area (530)2		2,886		2,910		2,977		3,023		2,963		3,035
Central		1,494		1,522		1,526		1,530		1,488		1,508
Muskoka-Kawarthas (520)		171		181		180		180		171		173
Kitchener-Waterloo-Barrie (540)		644		658		655		653		636		651
Hamilton-Niagara Peninsula (550)		680		683		691		697		681		685
Southwest		802		813		800		791		752		762
London (560)		331		334		336		329		316		319
Windsor-Sarnia (570)		317		324		311		309		290		293
Stratford-Bruce Peninsula (580)		154		156		153		153		146		150
North		368		364		369		367		351		354
Northeast (590)		260		259		263		265		251		254
Northwest (595)		109		105		106		102		100		100
Table 26 (continued)			(Thousands)
			2011		2012		2013		2014		2015
Ontario				6,658		6,703		6,823		6,878		6,923
Region: 1
East				897		909		898		908		889
Ottawa (510)				679		695		685		698		688
Kingston-Pembroke (515)				218		214		214		210		201
Greater Toronto Area (530)2				3,078		3,112		3,240		3,241		3,320
Central				1,552		1,551		1,559		1,597		1,597
Muskoka-Kawarthas (520)				176		171		168		186		168
Kitchener-Waterloo-Barrie (540)				676		675		694		705		711
Hamilton-Niagara Peninsula (550)				700		706		697		706		719
Southwest				771		773		769		775		770
London (560)				320		323		324		325		330
Windsor-Sarnia (570)				294		297		295		299		295
Stratford-Bruce Peninsula (580)				158		153		151		151		145
North				360		357		356		357		346
Northeast (590)				261		255		254		257		248
Northwest (595)				100		102		102		100		97

¹  Standard deviations vary significantly across regions, decreasing as the size of the region increases.

²  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.

77

Ontario, Employment Level by Industry for Economic Regions, 2015							Table 27
	(Thousands)
	All Industries		Agriculture		Resources1		Manufacturing
Ontario		6,923		77		43		745
Region:
East		889		9		2		48
Ottawa (510)		688		5		—		34
Kingston-Pembroke (515)		201		4		—		14
Greater Toronto Area (530)		3,320		10		8		327
Central		1,597		24		6		219
Muskoka-Kawarthas (520)		168		4		—		16
Kitchener-Waterloo-Barrie (540)		711		10		2		112
Hamilton-Niagara Peninsula (550)		719		10		3		91
Southwest		770		31		4		125
London (560)		330		12		—		49
Windsor-Sarnia (570)		295		10		—		53
Stratford-Bruce Peninsula (580)		145		9		2		22
North		346		3		24		25
Northeast (590)		248		2		21		19
Northwest (595)		97		—		3		7
Table 27 (continued)	(Thousands)
	Construction		Distributive2		Finance, Prof. & Mgmt.3		Info., Culture & Recreation4
Ontario		487		652		1,457		310
Region:
East		60		58		156		40
Ottawa (510)		47		42		128		31
Kingston-Pembroke (515)		13		16		27		8
Greater Toronto Area (530)		214		358		885		175
Central		132		142		263		58
Muskoka-Kawarthas (520)		18		13		23		7
Kitchener-Waterloo-Barrie (540)		57		66		113		25
Hamilton-Niagara Peninsula (550)		56		63		128		26
Southwest		58		67		113		25
London (560)		25		28		58		9
Windsor-Sarnia (570)		21		23		39		13
Stratford-Bruce Peninsula (580)		12		16		16		4
North		24		27		40		12
Northeast (590)		17		19		30		8
Northwest (595)		7		8		10		3

78

Table 27 (continued)	(Thousands)
	Retail Trade		Personal Services5		Education
Ontario		761		721		515
Region:
East		102		92		69
Ottawa (510)		77		67		53
Kingston-Pembroke (515)		25		25		17
Greater Toronto Area (530)		342		333		233
Central		182		182		131
Muskoka-Kawarthas (520)		25		19		11
Kitchener-Waterloo-Barrie (540)		72		82		60
Hamilton-Niagara Peninsula (550)		85		81		60
Southwest		87		78		55
London (560)		36		32		26
Windsor-Sarnia (570)		33		32		22
Stratford-Bruce Peninsula (580)		19		13		8
North		48		36		26
Northeast (590)		35		24		18
Northwest (595)		13		12		8

Table 27 (continued)	(Thousands)
	Health & Soc. Assistance		Public Administration
Ontario		812		344
Region:
East		129		126
Ottawa (510)		91		112
Kingston-Pembroke (515)		38		14
Greater Toronto Area (530)		328		109
Central		195		62
Muskoka-Kawarthas (520)		23		8
Kitchener-Waterloo-Barrie (540)		82		28
Hamilton-Niagara Peninsula (550)		90		25
Southwest		103		25
London (560)		44		12
Windsor-Sarnia (570)		38		9
Stratford-Bruce Peninsula (580)		21		4
North		58		23
Northeast (590)		40		15
Northwest (595)		18		8

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 30.

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.

79

Ontario Economic Regions1	Table 28
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 2011.

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

80