About the Long-Term Report

Ontario’s Long-Term Report on the Economy is an assessment of our province’s projected economic and fiscal environment over the next 20 years.

The report is based on past trends and current projections of demographics and growth. It provides important context to help municipalities, academics, economists and the private sector plan for the future.

The government’s commitment to deliver a long-term assessment is an important part of its approach to fiscal sustainability, transparency and accountability.

The Fiscal Sustainability, Transparency and Accountability Act, 2019 requires the government to deliver this report within two years of a general election.

Economic uncertainty from the COVID-19 pandemic

The outbreak and rapid global spread of COVID-19 in 2020 has shocked the global economy, disrupted financial markets and caused economic and social hardships for families, business-owners, workers and communities across Ontario.

Future economic opportunities and challenges

The long-term economic implications of COVID-19 are highly uncertain, as such, this report focuses on key factors that will affect Ontario’s economy after we recover from COVID-19.

It contains trends observed over the past 50 years that are expected to continue in the future, such as the slowing growth and increasing aging of the population. Ontario’s strong economic foundation, including diversification among many robust sectors, a highly skilled workforce and a motivated population, will support future economic growth. The government has enhanced this foundation by taking steps to:

  • reduce business costs
  • invest in infrastructure
  • reduce unnecessary regulatory burden
  • further enhance labour force skills

Read the 2020 report to learn more.

Find older editions of Ontario's Long-Term Report on The Economy

The Ontario Legislative Library has a collection of past editions of Ontario's Long-Term Report on The Economy in PDF format from 2005 to 2017.

We are committed to providing accessible customer service. On request, we can arrange for accessible formats and communication supports. If you have questions, requests, or need help locating a document, please contact us.