British Columbia -- Budget '99
Ministry of Finance and Corporate Relations
Joy K. MacPhail, Minister

 Budget Reports
This electronic version is for informational purposes only.
The printed version remains the official version.

Report H:
SUPPLEMENTARY TABLES — continued

TABLE H8
KEY DEBT INDICATORS
For fiscal year ending March 31
1996 1997 1998 Revised
Forecast
19991		 Budget
Estimate
2000
Debt to revenue (per cent)
Total provincial 97.4 97.8 98.8 103.9 113.9
Taxpayer-supported 87.0 91.3 93.5 100.1 116.9
Debt per capita ($)2
Total provincial 7,588 7,534 7,624 7,987 8,582
Taxpayer-supported 5,250 5,449 5,552 5,741 6,472
Debt to GDP (per cent)3
Total provincial 27.4 27.6 27.6 29.6 31.7
Taxpayer-supported 19.0 20.0 20.1 21.3 23.9
Interest bite (cents per dollar of revenue)4
Total provincial 8.9 8.0 7.6 8.1 8.7
Taxpayer-supported 7.7 7.3 7.0 7.9 8.6
Interest costs ($ millions)
Total provincial 2,609 2,386 2,313 2,504 2,640
Taxpayer-supported 1,749 1,692 1,656 1,807 1,934
Interest rate (per cent)5
Taxpayer-supported 8.9 8.2 7.7 7.5 7.4
 
Background Information:
Revenue ($ millions)
Total provincial6 29,474 29,919 30,540 30,822 30,489
Taxpayer-supported7 22,843 23,174 23,516 22,996 22,403
Total debt ($ millions)
Total provincial 28,713 29,248 30,182 32,029 34,722
Taxpayer-supported8 19,866 21,152 21,979 23,020 26,184
Provincial GDP ($ millions)9 104,786 105,843 109,347 108,300 109,540
Population (thousands at July 1)10 3,784 3,882 3,959 4,010 4,046
 
1 Effective March 31, 1999, certain debt of British Columbia Transit related to operations in the Lower Mainland were assumed by the Municipal Finance Authority of British Columbia (MFA) on behalf of the Greater Vancouver Transportation Authority; and the debt of health care facilities that is financed through local property taxes was assumed by the MFA on behalf of all regional hospital districts (except for the Greater Vancouver Regional Hospital District, which was assumed by the provincial government). Prior years have not been restated for these changes.
2 The ratio of debt to population (e.g. 1999 debt divided by population at July 1, 1999).
3 The ratio of debt outstanding at fiscal year end to provincial nominal gross domestic product (GDP) for the calendar year ending in the fiscal year (e.g. 1999/00 debt divided by 1999 GDP).
4 The ratio of interest costs (less sinking fund interest) to revenue.
5 Weighted average of all outstanding debt issues.
6 Includes revenue of the consolidated revenue fund plus revenue of all Crown corporations and agencies.
7 Excludes revenue of commercial Crown corporations and agencies.
8 Excludes debt of commercial Crown corporations and agencies, funds held under the province's warehouse borrowing program, and non-guaranteed debt of the British Columbia Lottery Corporation, Liquor Distribution Branch, British Columbia Railway Company, Columbia Basin Power Company (a joint venture of the Columbia Power Corporation and the Columbia Basin Trust Power Corporation) and 552513 British Columbia Ltd. (Skeena Cellulose Inc.)
9 GDP for the year ending in the fiscal year (e.g. GDP for 1999 is used for the fiscal year ending March 31, 2000).
10 Population at July 1st within the fiscal year (e.g. population at July 1, 1999 is used for the fiscal year ending March 31, 2000).

 

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