OTTAWA — The Finance Department says the federal government's deficit was $300 million in August, down from $2 billion in August 2013.
The department says the government posted a deficit of $1.1 billion between April and August, down from a $6.6 billion shortfall in the same period of 2013.
For August alone, the department says revenues decreased by $7 million, as increases in personal income tax and GST were offset by a decrease in corporate income tax revenues.
It says program expenses decreased by $1.6 billion, or 8.4 per cent, largely reflecting a decrease in direct program expenses.
Public debt charges fell by $0.1 billion, or 4.9 per cent.
