1 7 / 1 8 ▁- ▁F Y 2 0 2 1 / 2 2 ) ▁from ▁ 5 ▁percent ▁to ▁ 2 ¼ ▁percent ▁of ▁G DP . ▁▁ ▁This ▁implies ▁a ▁wind fall ▁gain ▁of ▁about ▁ 2 ¾ ▁percent ▁of ▁G DP ▁that ▁can ▁be ▁used ▁for ▁new ▁dis cret ion ary ▁measures . ▁With ▁the ▁output ▁gap ▁closing , ▁the ▁federal ▁government ▁has ▁decided ▁not ▁to ▁spend ▁all ▁the ▁wind fall ▁gain , ▁choosing ▁instead ▁to ▁allocate ▁half ▁of ▁the ▁gain ▁for ▁new ▁measures ▁and ▁the ▁remainder ▁to ▁be ▁used ▁to ▁gradually ▁reduce ▁the ▁federal ▁deb t - to - G DP ▁ratio ▁from ▁ 3 0 . 4 ▁percent ▁of ▁G DP ▁in ▁F Y 2 0 1 7 / 1 8 ▁to ▁ 2 8 . 4 ▁percent ▁of ▁G DP ▁in ▁F Y 2 0 2 2 / 2 3 . ▁ ▁Act ual ▁January ▁ 2 0 2 0 ▁deb t ▁levels ▁were ▁reported ▁ ▁by ▁the ▁F ras er ▁Institute ▁ ▁Government ▁object ives ▁to ▁reduce ▁provinces ' ▁deb t ▁▁ ▁According ▁to ▁an ▁IM F ▁report , ▁BC ▁and ▁Quebec ▁should ▁continue ▁to ▁comp ly ▁with ▁their ▁current ▁bal anced ▁operating ▁budget ▁rule . ▁Ontario ▁and ▁Al berta ▁should ▁explore ▁alternative ▁oper ational ▁rules ▁to ▁replace ▁or ▁support ▁their ▁existing ▁operating ▁budget ▁rules ▁to ▁enh ance ▁the ▁cred ibility ▁of ▁deb t ▁reduction ▁as ▁a ▁medium - term ▁fis cal ▁objective . ▁Such ▁options ▁should ▁consider ▁specific ▁sources ▁of ▁fis cal ▁im bal