Financial Accountability Office of Ontario

Latest News and Publications

Sep 12, 2017

Assessing the Economic Impact of Ontario's Proposed Minimum Wage Increase

As part of the Fair Workplaces, Better Jobs Act, the government proposes to raise Ontario’s general minimum wage from its current rate of $11.40 per hour to $14 per hour on January 1, 2018 and $15 per hour the following year. While almost 1.6 million workers will benefit from the increase, a significant number of lower wage workers will lose their jobs and some businesses will struggle to cover higher payroll costs.
Sep 6, 2017

Ontario’s Debt Reduction Commitment Based on Unlikely Assumptions

In the 2017 Budget, the government restated its commitment to reduce the net debt-to-GDP ratio to its pre-recession level of 27 per cent. The Province’s commitment is based on three unlikely assumptions. If any of these assumptions fall short of expectations, the government’s debt-to-GDP target would not be achieved.

2016-17 Annual Report

Jul 13, 2017

The FAO’s 2016-17 annual report describes the FAO’s activities in support of the Legislative Assembly’s performance of its constitutional functions, especially financial scrutiny, and discusses the FAO’s improved access to government information.
Economic and Fiscal Outlook Spring 2017

May 31, 2017

The FAO’s Economic and Fiscal Outlook provides an assessment of Ontario’s current economic outlook and the state of the provincial government’s finances.
An Assessment of the Fiscal Impact of the Province’s Fair Hydro Plan

May 24, 2017

This report analyzes the impact of Ontario’s Fair Hydro Plan on electricity ratepayers and Provincial finances over the next 29 years. Overall, the FAO estimates that Ontario’s Fair Hydro Plan will cost the Province $45 billion and provide $24 billion in savings to electricity ratepayers - for a total net cost to Ontarians of $21 billion.