====================================================================== Note: The electronic version of the following Appendix H is for informational purposes only. The printed version remains the official version. ====================================================================== APPENDIX H SUPPLEMENTARY TABLES ---------------------------------------------------------------------------------------------- TABLE H1 GENERAL ECONOMIC INDICATORS ---------------------------------------------------------------------------------------------- Unit or Base Period 1989 1990 1991 1992 ---------------------------------------------------------------------------------------------- Demographics: Population (June 1)................. thousands 3,086 3,183 3,282 3,370 Public school enrolment (Sept. 30).. thousands 513 520 558 571 Labour force........................ thousands 1,578 1,601 1,652 1,693 Employment.......................... thousands 1,435 1,469 1,489 1,517 Unemployment rate................... per cent 9.1 8.3 9.9 10.4 Main Economic Indicators: Provincial gross domestic product... $ millions 77,213 81,406 84,088 88,797(1) Capital investment (new and repair).. $ millions 21,215 22,802 22,559 22,319 Retail sales......................... $ millions 22,791 24,200 23,537 24,390 New automobile sales................. $ millions 1,760 1,713 1,543 1,536 Housing starts..................... dwelling units 38,894 36,720 31,875 40,621 Building permits..................... $ millions 5,216 4,976 5,132 6,257 Exports.............................. $ millions 18,334 16,648 15,215 16,279 Incomes: Personal income...................... $ millions 65,026 72,007 75,457 78,100(1) Wages and salaries................... $ millions 36,467 39,813 41,947 43,453 Average weekly earnings.............. $ 497.77 514.54 534.79 549.11 Prices: Consumer price index, B.C. (urban)... 1986=100 111.5 117.6 123.8 127.2 Consumer price index, Vancouver...... 1986=100 111.5 117.6 123.7 127.4 Consumer price index, Victoria....... 1986=100 111.2 117.1 123.8 126.4 Industrial product price index, Canada............................. 1986=100 109.4 109.7 108.6 109.1 B.C. export commodity price index(2). 1986=100 122.6 116.6 101.6 109.1 Financial Indicators: Business incorporations.............. number 21,817 19,550 18,528 20,406 Business bankruptcies................ number 1,004 1,128 1,288 1,051 Shares traded (Vancouver Stock Exchange)......... $ millions 3,822 4,128 3,681 3,899 Personal savings deposits at chartered banks................. $ millions 25,230 29,340 31,868 33,462(1) Sector Indicators: Manufacturing shipments.............. $ millions 26,596 25,182 23,127 23,969 Timber scaled........................ thousand cubic metres 87,415 78,318 73,677 74,006 Lumber production.................... thousand cubic metres 35,952 33,515 31,406 33,396 Pulp and paper production.......... thousand tonnes 9,842 9,599 9,386 9,342(1) Gross value of mineral production.... $ millions 3,162 2,971 2,755 2,505(3) Petroleum and natural gas production. $ millions 783 900 859 879(3) Electric power generation (net)...... million kilowatt hours 57,655 60,662 62,981 63,430 Farm cash receipts.................. $ millions 1,171 1,213 1,231 1,339 Foreign visitors.................... thousands 4,910 5,130 5,285 5,312 (1) Ministry of Finance and Corporate Relations estimate. (2) Developed by the Ministry of Finance and Corporate Relations. (3) Ministry of Energy, Mines and Petroleum Resources estimate. ---------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- TABLE H2 INTERPROVINCIAL COMPARISONS OF TAX RATES (RATES AS OF MARCH 18, 1993)(1) ------------------------------------------------------------------------------------------------------------------------- Prince British Saskat- Mani- New Nova Edward New- Tax Columbia(2) Alberta chewan toba Ontario Quebec Brunswick Scotia Island foundland ------------------------------------------------------------------------------------------------------------------------- Personal income tax Per cent of basic federal tax(3).... 52.5 45.5 50.0 52.0 55.0 N/A 60.0 59.5 59.5 69.0 Flat tax(4)........ N/A 0.5 2.0 2.0 N/A N/A N/A N/A N/A N/A Surtax(5) Rate.............. 20/10 8 10/15 2 14/6 N/A 8 10 10 N/A Net Threshold......... $5,300/ $3,500 $1/ Income $5,500/ N/A $13,500 $10,000 $12,500 N/A $9,000 $4,000 >$30,000 $8,000 Provincial personal income tax (per cent of family income)(6). 7.8 7.3 10.5 9.3 8.2 8.3 9.0 8.9 8.9 10.3 Corporation income tax (per cent of taxable income)(7) General rate...... 16.5 15.5 17 17 15.5 6.90 17 16 15 16 Small business rate 10 6 9 10 9.5 3.75 9 5 7.5 5 Corporation capital tax(8) Non-financial....... 0.3 Nil 0.6 0.3 0.3 0.56 Nil Nil Nil Nil Financial........... 1.0/3.0 2.0 3.25 3.0 1.12 1.12 3.0 3.0 3.0 3.0 Health care premiums(9) Individual/family... $36/72 $27/54 Nil Nil Nil Nil Nil Nil Nil Nil Payroll tax (per cent)(10)....... Nil Nil Nil 2.25 1.95 3.75 Nil Nil Nil 1.5 Insurance premium tax (per cent)(11)...... 2-3 2-3 2-3 2-3 2-3.5 2-3 2-3 3-4 3 4-12 Fuel taxes (cents per litre)(12) Gasoline........... 11.0 9.0 15.0 10.5 14.7 18.9 10.7 10.9 11.7 15.7 Diesel............. 11.5 9.0 15.0 10.9 14.3 17.0 13.7 13.6 11.7 17.6 Retail sales tax (per cent)(13) General rate....... 7 Nil 9 7 8 8 11 10 10 12 Liquor............. 10 Nil 7 12 12 8 11 10 37.5 12 Meals.............. Nil Nil Nil 7 8 8 11 10 10 12 Accommodation...... 8 5 9 7 5 4 11 10 10 12 Tobacco tax (dollars per carton of 200 cigarettes)(14)..... 22.00 14.00 20.00 19.10 16.40 17.40 18.60 18.20 18.00 27.00 (1) Rates shown are for the 1993 taxation year. (2) British Columbia tax rates are shown as announced in the March 30, 1993 Budget. (3) Quebec has its own personal income tax collection system which is not directly comparable. Alberta, Saskatchewan, Manitoba, Ontario and Quebec provide tax reductions at low income levels. (4) Per cent of taxable income in Alberta and per cent of net income in Saskatchewan and Manitoba. (5) Provincial high income surtaxes: the surtax rate is applied to provincial tax in excess of the threshold level (the Manitoba surtax applies to net income over $30,000). Saskatchewan's Deficit Surtax is 10 per cent of basic provincial tax. For 1994, the British Columbia rates will be 30 per cent for the first tier surtax and 20 per cent for the second tier surtax. (6) Calculated for a wage earner with an income of $45,000 per year, a dependent spouse and two dependent children. (7) The British Columbia general rate is effective July 1, 1993. Alberta, Ontario and Prince Edward Island have lower rates for manufacturing and processing and Ontario has a temporary surtax of 10 per cent on income tax payable by banks. (8) The non-financial rate for British Columbia applies to corporations with paid-up capital in excess of $1.25 million; Ontario has lower rates for corporations with less than $2.3 million in taxable capital. Large Saskatchewan resource corporations are assessed at 3.6 per cent surcharge on the value of Saskatchewan resource sales. (9) The British Columbia rates are effective October 1, 1993. British Columbia has a two person rate of $64. Alberta and British Columbia offer premium assistance in the form of lower rates for lower income individuals and families. (10) Manitoba, Ontario and Newfoundland provide payroll tax relief for small businesses. (11) The lower rate applies to premiums for life, sickness and accident insurance; the higher rate applies to premiums for property insurance (excluding motor vehicles). Newfoundland sales tax is payable by the insurer on property insurance premiums. (12) Tax rate is for regular unleaded fuel used on highways. The Quebec rate includes estimated sales tax. (13) In Quebec, services and new house sales are taxed at 4 per cent. (14) Includes estimated provincial sales tax where applicable. ------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------- TABLE H3 COMPARISON OF PROVINCIAL AND FEDERAL TAXES BY PROVINCE - 1993 -------------------------------------------------------------------------------------------------------------- New Prince New- British Saskat- Mani- Bruns- Nova Edward found- Tax Columbia Alberta chewan toba Ontario Quebec wick Scotia Island land -------------------------------------------------------------------------------------------------------------- ------------------------------------ ($) ------------------------------------- Unattached Individual - $25,000 1. Provincial Income Tax... 1,421 1,349 2,008 1,555 1,431 2,214 1,623 1,610 1,610 1,867 2. Property Tax (Rents).... - - - - - - - - - - 3. Retail Sales Tax........ 502 7 613 636 734 809 868 800 779 1,094 4. Fuel Tax................ 110 90 150 105 147 189 107 109 117 157 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 5. Provincial Direct Taxes 2,033 1,446 2,771 2,296 2,312 3,212 2,598 2,519 2,506 3,118 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 6. Health Care Premiums/ Payroll Taxes......... 432 312 - 563 488 938 - - - 375 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 7. Total Provincial Tax.... 2,465 1,758 2,771 2,859 2,800 4,150 2,598 2,519 2,506 3,493 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 8. Federal Income Tax...... 2,787 2,787 2,787 2,787 2,787 2,787 2,787 2,787 2,787 2,787 9. Net Federal GST......... 515 515 515 515 515 515 515 515 515 515 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 10. Total Tax............... 5,767 5,060 6,073 6,161 6,102 7,452 5,900 5,821 5,808 6,795 ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Unattached Individual - $80,000 1. Provincial Income Tax... 8,712 7,711 10,937 10,414 8,988 11,672 9,307 9,229 9,229 10,703 2. Property Tax -Gross.................. 1,600 1,600 1,550 1,850 2,700 2,200 825 1,996 1,453 1,572 -Net.................... 1,130 1,600 1,550 1,525 2,700 2,200 813 1,996 1,453 1,572 3. Retail Sales Tax........ 1,221 17 1,491 1,547 1,786 1,968 2,111 1,945 1,894 2,661 4. Fuel Tax................ 165 135 225 158 221 284 161 164 176 236 ------ ----- ------ ------ ------ ------ ------ ------ ------ ------ 5. Provincial Direct Taxes 11,228 9,463 14,203 13,644 13,695 16,124 12,392 13,334 12,752 15,172 ------ ----- ------ ------ ------ ------ ------ ------ ------ ------ 6. Health Care Premiums/ Payroll Taxes............ 432 312 - 1,800 1,560 3,000 - - - 1,200 ------ ----- ------ ------ ------ ------ ------ ------ ------ ------ 7. Total Provincial Tax.... 11,660 9,775 14,203 15,444 15,255 19,124 12,392 13,334 12,752 16,372 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 8. Federal Income Tax...... 16,148 16,148 16,148 16,148 16,148 16,148 16,148 16,148 16,148 16,148 9. Net Federal GST......... 1,988 1,988 1,988 1,988 1,988 1,988 1,988 1,988 1,988 1,988 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 10. Total Tax............... 29,796 27,911 32,339 33,580 33,391 37,260 30,528 31,470 30,888 34,508 ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Single Income Family of Four - $45,000 1. Provincial Income Tax... 3,033 2,835 4,089 3,425 3,177 2,900 3,466 3,437 3,437 3,986 2. Property Tax -Gross.................. 1,660 1,400 2,240 2,450 2,500 2,400 1,150 1,805 1,408 989 -Net.................... 1,190 1,400 2,240 2,125 2,500 2,400 1,133 1,805 1,408 989 3. Retail Sales Tax........ 720 10 903 847 975 1,216 1,118 1,049 998 1,464 4. Fuel Tax................ 165 135 225 158 221 284 161 164 176 236 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 5. Provincial Direct Taxes 5,108 4,380 7,457 6,555 6,873 6,800 5,878 6,455 6,019 6,675 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 6. Health Care Premiums/ Payroll Taxes......... 864 624 - 1,013 878 1,688 - - - 675 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 7. Total Provincial Tax.... 5,972 5,004 7,457 7,568 7,751 8,488 5,878 6,455 6,019 7,350 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 8. Federal Income Tax...... 5,969 5,969 5,969 5,969 5,969 5,969 5,969 5,969 5,969 5,969 9. Net Federal GST......... 1,230 1,230 1,230 1,230 1,230 1,230 1,230 1,230 1,230 1,230 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 10. Total Tax............... 13,171 12,203 14,656 14,767 14,950 15,687 13,077 13,654 13,218 14,549 ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Two Income Family of Four - $80,000 1. Provincial Income Tax... 5,954 5,540 8,005 7,651 6,238 8,846 6,805 6,748 6,748 7,826 2. Property Tax -Gross.................. 2,230 2,300 3,400 3,570 4,050 2,600 1,875 2,350 1,983 1,463 -Net.................... 1,760 2,300 3,400 3,245 4,050 2,600 1,847 2,350 1,983 1,463 3. Retail Sales Tax........ 1,222 17 1,519 1,444 1,674 2,005 1,900 1,786 1,703 2,499 4. Fuel Tax................ 165 135 225 158 221 284 161 164 176 236 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 5. Provincial Direct Taxes 9,101 7,992 13,149 12,498 12,183 13,735 10,713 11,048 10,610 12,024 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 6. Health Care Premiums/ Payroll Taxes......... 864 624 - 1,800 1,560 3,000 - - - 1,200 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 7. Total Provincial Tax.... 9,965 8,616 13,149 14,298 13,743 16,735 10,713 11,048 10,610 13,224 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 8. Federal Income Tax...... 11,701 11,701 11,701 11,701 11,701 11,701 11,701 11,701 11,701 11,701 9. Net Federal GST......... 2,020 2,020 2,020 2,020 2,020 2,020 2,020 2,020 2,020 2,020 ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ 10. Total Tax............... 23,686 22,337 26,870 28,019 27,464 30,456 24,434 24,769 24,331 26,945 ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Senior Couple with Equal Pension Incomes - $30,000 1. Provincial Income Tax... 725 308 1,120 218 130 730 829 822 822 953 2. Property Tax -Gross.................. 1,660 1,400 2,240 2,450 2,500 2,400 1,150 1,805 1,408 989 -Net.................... 915 400 2,240 2,125 2,500 2,400 933 1,805 1,408 989 3. Retail Sales Tax........ 717 26 915 836 970 1,189 1,119 1,050 992 1,440 4. Fuel Tax................ 110 90 150 105 147 189 107 109 117 157 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 5. Provincial Direct Taxes 2,467 824 4,425 3,284 3,747 4,508 2,988 3,786 3,339 3,539 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 6. Health Care Premiums/ Payroll Taxes......... 768 624 - - - - - - - - ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 7. Total Provincial Tax.... 3,235 1,448 4,425 3,284 3,747 4,508 2,988 3,786 3,339 3,539 8. Federal Income Tax...... 1,422 1,422 1,422 1,422 1,422 1,422 1,422 1,422 1,422 1,422 9. Net Federal GST......... 1,035 1,035 1,035 1,035 1,035 1,035 1,035 1,035 1,035 1,035 ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ 10. Total Tax............... 5,692 3,905 6,882 5,741 6,204 6,965 5,445 6,243 5,796 5,996 ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Personal Income Tax þ Income tax is based on basic personal credits, applicable provincial credits, and typical major deductions at each income level. Quebec residents pay federal income tax less an abatement of 16.5 per cent of basic federal tax. This abatement has been used to reduce Quebec provincial tax rather than federal tax, for comparative purposes. The two income family of four is assumed to have one spouse earning $50,000 annually and the other $30,000. Property Tax þ Estimates of property taxes are from Royal LePage Winter 1993 Survey of Canadian House Prices. It is assumed that the individual at $25,000 rents accommodation; the family at $45,000 and the senior couple own bungalows; the family at $80,000 owns a two-storey executive style home; and the single at $80,000 owns a luxury condominium, in a major city for each province. Net property taxes are estimated as taxes owing after credits provided through the property tax system are subtracted. Retail Sales and Fuel Tax þ Includes sales tax on meals, liquor and accommodation. Estimates are based on expenditure patterns from the 1990 Survey of Family Expenditures. In estimating individual and family taxable consumption, disposable income is reduced by 20 per cent to reflect housing (mortgage and rent) costs. The senior couple is assumed to own their own home and have no mortgage costs. The federal goods and services tax (GST) estimates have been reduced by the GST credit, where applicable. þ Fuel tax is based on annual consumption: 1,000 litres of unleaded fuel for the individual at $25,000 and the senior couple; others are assumed to consume 1,500 litres. Health Care Premiums/Payroll Tax þ Health care premiums are levied in British Columbia and Alberta only. Approximately 50 per cent of British Columbia premiums are paid by employers on behalf of their employees with the remainder paid by individuals, either by employees or by residents who are not employed. Payroll taxes, in the four provinces that levy them, are paid by the employer. The cost to employers of payroll taxes and health care premiums paid on behalf of employees is generally reflected in reduced wages. Effective Tax Rates þ British Columbia taxes have been calculated using rates announced in the March 30, 1993 budget. Taxes for other provinces were calculated using rates in effect on March 18, 1993. -------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- TABLE H4 THE FINANCING PLAN CONSOLIDATED REVENUE FUND ---------------------------------------------------------------------------------------------- Revised Actual Actual Actual Forecast Estimate 1989/90(1) 1990/91(1) 1991/92(1) 1992/93(1) 1993/94 ---------------------------------------------------------------------------------------------- -------------------- ($ millions) ---------------------- Financial Requirements: Consolidated Revenue Fund Deficit (Surplus)..................... (357.7) 625.7 2,355.4 1,950.0 1,535.0 Net Requirements (Sources) from Financing and Working Capital Transactions(2)............... (75.2) 166.4 (342.0) 300.3 44.0 ------ ------- -------- ------- -------- Total Financial Requirements........ (432.9) 792.1 2,013.4 2,250.3 1,579.0 ====== ======= ======== ======= ======== Financial Sources: Net Direct Borrowing (Repayment) for Government Purposes....... (710.6) 517.3 1,884.6 2,353.5 1,574.0 Decrease (Increase) in Cash and Short-Term Investments........ 277.7 274.8 128.8 (103.2) 5.0 ------ ------- -------- --------- -------- Total Financial Sources............. (432.9) 792.1 2,013.4 2,250.3 1,579.0 ====== ======= ======== ========= ======== Net Debt at Year End:(3) Government Direct............... 4,208.6 4,725.9 6,610.5 8,964.0 10,538.0 Crown Corporation and Agency.... 11,322.9 11,800.1 12,550.7 13,315.4 14,656.0 Other Fiscal Agency Loans....... 100.6 138.5 241.9 382.5 597.0 Other Guarantees................ 576.5(4) 543.5 574.4 591.1 588.0 -------- -------- -------- -------- -------- Total Net Debt at Year End......... 16,208.6 17,208.0 19,977.5 23,253.0 26,379.0 ======== ======== ======== ======== ======== (1) Restated to conform to the 1993/94 Estimates. (2) Financing and working capital transactions represent either a source or use of funds, such as the payment or collection of loans and accounts payable/receivable. They do not cause a change in the annual surplus (deficit) but only a change in the composition of the provincial government's assets and liabilities. (3) Net of sinking funds and unamortized discount balances. (4) Restated to include British Columbia Second Mortgage Program guarantees. ---------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------ TABLE H5 REVENUE BY SOURCE CONSOLIDATED REVENUE FUND ------------------------------------------------------------------------------------ Annual Rate of Growth Revised 1989/90 Actual Actual Actual Forecast Estimate to 1989/90 1990/91 1991/92 1992/93 1993/94 1993/94 ------------------------------------------------------------------------------------ ------------------($ millions)------------------ (per cent) Taxation Revenue: Personal income....... 3,451.6 4,140.1 4,287.0 4,017.0 4,458.0 6.6 Corporation income.... 666.3 607.5 577.4 551.0 607.0 (2.3) Social service........ 1,989.6 2,009.6 1,990.5 2,060.0 2,605.0 7.0 Fuel.................. 502.3 555.0 538.8 585.0 604.0 4.7 Tobacco............... 308.0 346.5 433.0 495.0 498.0 12.8 Property - residential (school purpose)(1). - 284.9 332.1 421.0 495.0 - Property - business (school purpose).... 522.5 554.5 579.3 626.0 663.0 6.1 Property - rural area. 53.8 52.4 54.5 55.0 58.0 1.9 Property transfer(2).. 317.4 211.4 282.4 350.0 370.0 3.9 Corporation capital... 4.0 10.2 13.4 268.0 288.0 191.3 Insurance premium..... 95.0 104.1 115.4 136.0 147.0 11.5 Hotel room............ 53.3 57.0 58.6 60.0 63.0 4.3 Horse racing.......... 6.1 6.1 5.9 6.0 6.0 (0.4) Succession and gift... 0.1 - - - - - -------- -------- -------- -------- -------- Total taxation revenue 7,970.0 8,939.3 9,268.3 9,630.0 10,862.0 8.0 -------- -------- -------- -------- -------- Natural Resource Revenue: Petroleum and natural gas: Natural gas royalties......... 62.8 74.5 73.8 86.0 93.0 10.3 Permits and fees.... 121.6 157.4 91.5 59.0 58.0 (16.9) Petroleum royalties. 42.8 47.8 43.4 58.0 61.0 9.3 -------- -------- -------- -------- -------- 227.2 279.7 208.7 203.0 212.0 (1.7) -------- -------- -------- -------- -------- Minerals.............. 73.3 45.0 41.8 30.0 51.0 (8.7) -------- -------- -------- -------- -------- Forests: Timber sales......... 453.5 418.8 428.4 498.0 678.0 10.6 Small Business Forest Enterprise Program 147.3 111.5 131.4 160.8 198.2 7.7 Logging tax.......... 45.7 27.8 (24.5) (10.0) - - Other forests revenue 52.3 51.2 48.2 41.2 36.8 (8.4) -------- -------- -------- -------- -------- 698.8 609.3 583.5 690.0 913.0 6.9 -------- -------- -------- -------- -------- Water resources...... 236.1 221.9 253.1 291.0 289.0 5.2 Wildlife Act......... 13.8 14.4 14.1 15.0 16.0 3.8 -------- -------- -------- -------- -------- 249.9 236.3 267.2 306.0 305.0 5.1 -------- -------- -------- -------- -------- Total natural resource revenue............. 1,249.2 1,170.3 1,101.2 1,229.0 1,481.0 4.3 -------- -------- -------- -------- -------- Other Revenue: Medical Services Plan premiums....... 641.0 660.3 742.2 780.0 797.0 5.6 Lottery proceeds...... 195.8 205.3 219.0 229.0 239.0 5.1 Motor vehicle licences and permits......... 182.8 199.0 219.9 230.0 253.0 8.5 Other fees and licences(3)......... 271.9 250.0 283.2 323.0 339.0 5.7 Investment earnings(4) 168.0 110.3 131.9 122.0 93.0 (13.7) British Columbia Endowment Fund...... 112.4 52.7 51.9 46.0 39.0 (23.3) Miscellaneous(5)...... 137.8 194.2 143.0 146.0 152.0 2.5 -------- -------- -------- -------- -------- Total other revenue... 1,709.7 1,671.8 1,791.1 1,876.0 1,912.0 2.8 -------- -------- -------- -------- -------- Contributions from Government Enterprises: Liquor Distribution Branch.............. 418.1 446.7 454.1 510.0 525.0 5.9 British Columbia Hydro and Power Authority 101.1 114.2 - 247.0 290.0 30.1 Other................. 11.7 68.3 27.3 33.0 25.0 20.9 -------- -------- -------- -------- -------- Total contributions from government enterprises......... 530.9 629.2 481.4 790.0 840.0 12.2 -------- -------- -------- -------- -------- Contributions from the Federal Government: Established Programs Financing........... 1,239.8 1,110.3 1,156.0 1,527.0 1,350.0 2.2 Canada Assistance Plan 686.5 715.9 766.6 798.0 838.0 5.1 Other(6).............. 221.6 181.3 180.4 172.0 177.0 (5.5) -------- -------- -------- -------- -------- Total contributions from the federal government......... 2,147.9 2,007.5 2,103.0 2,497.0 2,365.0 2.4 -------- -------- -------- -------- -------- TOTAL REVENUE......... 13,607.7 14,418.1 14,745.0 16,022.0 17,460.0 6.4 ======== ======== ======== ======== ======== (1) Prior to 1990/91, residential (school purpose) property tax was collected by municipalities on behalf of school districts. Revenue shown is net of home owner grants (basic and supplementary). The 1990/91 figure has been restated to include a one-time accounting adjustment to home owner grants applicable to the 1990 property tax collection year. This change reduces 1990/91 revenue by $16.4 million. (2) Name changed from property purchase tax, effective August 1, 1992. (3) For comparative purposes, revenue for 1989/90 has been restated to include recoveries by the Securities Commission and Provincial Treasury Special Accounts which are included in Consolidated Revenue Fund revenue beginning in 1990/91. Previously, this revenue was deducted from expenditure. (4) Beginning in 1992/93, investment earnings resulting from prefunding of operations (early borrowing) are deducted from expenditure. (5) For comparative purposes, revenue for 1992/93 and prior years has been restated to deduct allowances for uncollectible revenue. Previously, these allowances were reported as expenditure. (6) For comparative purposes, revenue for 1990/91 and earlier has been restated to include federal contributions for education of aboriginal children and children of Department of National Defence personnel, which is included in Consolidated Revenue Fund revenue beginning in 1991/92. Previously, this revenue was deducted from expenditure. ------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------- TABLE H6 EXPENDITURE BY FUNCTION(1) CONSOLIDATED REVENUE FUND ---------------------------------------------------------------------------------------------- Annual Rate of Growth Revised 1989/90 Actual Actual Actual Forecast Estimate to 1989/90 1990/91 1991/92 1992/93(3) 1993/94 1993/94 ---------------------------------------------------------------------------------------------- -------------------- ($millions) --------------------- (per cent) Health................... 4,501.7 5,027.5 5,616.7 5,997.6 6,251.2 8.6 Social services.......... 1,495.8 1,669.1 1,993.7 2,398.7 2,808.7 17.1 Education................ 3,228.4 4,113.0(2) 4,519.5 4,807.0 4,969.2 11.4 Protection of persons and property............... 610.9 720.0 786.6 883.4 893.5 10.0 Transportation........... 1,198.9 1,187.7 1,262.1 1,078.0 994.9 (4.6) Natural resources and economic development... 1,009.8 1,057.9 1,421.0 1,161.6 1,268.6 5.9 Other.................... 455.2 505.4 572.0 575.7 600.1 7.2 General government....... 239.1 232.0 286.0 252.0 220.8 (2.0) Debt servicing........... 510.2 531.2 642.8 818.0(4) 988.0 18.0 -------- -------- -------- -------- -------- TOTAL EXPENDITURE........ 13,250.0 15,043.8 17,100.4 17,972.0 18,995.0 9.4 ======== ======== ======== ======== ======== (1) Expenditure by function has been restated to conform more closely to the presentation used by Statistics Canada. (2) Beginning in 1990/91, the provincial government assumed full responsibility for contributions to school districts funded through residential school property taxes. As a result, residential school property taxes are collected by the government rather than by local school districts and some expenditures formerly financed by local school districts are included as expenditures of the government. (3) For comparative purposes, expenditure for 1992/93 and prior years has been restated to exclude allowances for uncollectible revenue. Beginning in 1992/93, these allowances are deducted from revenue. (4) Beginning in 1992/93, investment earnings resulting from prefunding of operations (early borrowing) are deducted from expenditure. ------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- TABLE H7 NET DEBT SUMMARY(1) ---------------------------------------------------------------------------------------------- Revised Actual Actual Actual Forecast Estimate As at March 31, 1990 1991 1992 1993 1994 ---------------------------------------------------------------------------------------------- -------------------- ($ millions) -------------------- Purposes: Provincial Government Direct....... 4,208.6 4,725.9 6,610.5 8,964.0 10,538.0 -------- -------- -------- -------- -------- Commercial Crown Corporations and Agencies: British Columbia Hydro and Power Authority........... 7,076.3 7,151.8 7,226.1 7,146.2 7,523.4 British Columbia Railway Company....................... 258.3 287.0 255.8 220.0 354.6 -------- -------- -------- -------- -------- 7,334.6 7,438.8 7,481.9 7,366.2 7,878.0 Economic Development Crown Corporations and Agencies: British Columbia Ferry Corporation................... 67.6 59.8 200.9 362.6 448.1 British Columbia Transit........ 1,176.8 1,227.6 1,326.5 1,382.1 1,409.2 BC Transportation Financing Authority..................... - - - - 80.0 Other........................... 0.7 0.6 12.9 7.7 7.7 -------- -------- -------- -------- -------- 1,245.1 1,288.0 1,540.3 1,752.4 1,945.0 Social and Government Services Crown Corporations and Agencies: British Columbia Assessment Authority..................... 4.3 6.4 8.0 1.5 1.5 British Columbia Buildings Corporation................... 504.3 514.2 537.6 502.2 593.6 British Columbia Educational Institutions Capital Financing Authority........... 425.2 480.7 606.7 762.0 928.1 British Columbia Regional Hospital Districts Financing Authority........... 788.7 916.4 978.2 1,049.3 1,142.8 British Columbia School Districts Capital Financing Authority........... 794.2 952.7 1,142.6 1,399.7 1,680.8 Capital Project Certificate of Approval Program(2)........... 196.2 174.5 251.2 478.9 478.9 British Columbia Systems Corporation................... 36.2 33.8 30.5 28.6 32.3 Other........................... 55.2 - - - - -------- -------- -------- -------- -------- 2,804.3 3,078.7 3,554.8 4,222.2 4,858.0 Other Fiscal Agency Loans: Greater Vancouver Sewerage and Drainage District............. 27.4 26.4 93.4 162.9 293.9 Greater Vancouver Water District 19.9 61.9 69.8 102.7 137.8 Universities and Colleges....... 50.4 46.8 75.1 112.4 160.4 Local Governments............... 2.9 3.4 3.6 4.5 4.9 -------- -------- -------- -------- -------- 100.6 138.5 241.9 382.5 597.0 Less Amounts Held as Investments/Cash Held for Relending by the Consolidated Revenue Fund.................... 61.1(3) 5.4 26.3 25.4 25.0 -------- -------- -------- -------- -------- Government, Crown Corporation and Agency Debt Total........... 15,632.1 16,664.5 19,403.1 22,661.9 25,791.0 Other Guarantees(4)................ 576.5(5) 543.5 574.4 591.1 588.0 -------- -------- -------- -------- -------- Total Direct and Guaranteed Debt... 16,208.6 17,208.0 19,977.5 23,253.0 26,379.0 (1) Net debt is after deduction of sinking funds and unamortized discounts, and excludes accrued interest. Government direct and fiscal agency accrued interest is reported in the government's accounts as an accounts payable. (2) Short-term borrowings obtained by financing authorities under the Certificate of Approval Program are used as interim financing of capital construction and are eventually converted to long-term debt. (3) Includes cash held for relending under the Fiscal Agency Loan Program. (4) Includes student assistance loans, loan guarantees to agricultural producers and guarantees issued under economic development assistance programs and the former British Columbia Mortgage Assistance Program. Includes loan guarantee provisions. (5) Restated to include British Columbia Second Mortgage Program guarantees. ----------------------------------------------------------------------------------------------