National

Federal government posts $13B deficit in first half of the fiscal year

Darpan News Desk The Canadian Press, 29 Nov, 2024 11:08 AM

The Finance Department says the federal deficit was $13 billion between April and September.

That compares to an $8.2 billion deficit over the same period last year.

According to the monthly fiscal monitor released today, revenues were up $20.3 billion, or 9.6 per cent, compared with the first half of the 2023-24 fiscal year.

Program expenses excluding net actuarial losses and gains increased $21.7 billion, or 11.2 per cent, due to higher direct program spending and transfers to people and other levels of government.

Public debt charges rose by $5.2 billion, or 22.5 per cent, largely reflecting higher interest rates.

Net actuarial losses and gains decreased by $1.8 billion, or 46.8 per cent.

Prev Next

MORE National ARTICLES

GDP per capita falls for sixth straight quarter, economists split on rate cut size

The Canadian economy shrank on a per-person basis for a sixth consecutive quarter as higher interest rates continued to weigh on business investment. Statistics Canada’s gross domestic product report said the economy grew at an annualized rate of one per cent in the third quarter, down from 2.2 per cent in the second quarter.

GDP per capita falls for sixth straight quarter, economists split on rate cut size

Trudeau noncommittal on expanding rebate beyond 'working Canadians'

Prime Minister Justin Trudeau does not appear willing to budge on his plan to send a $250 rebate to "hardworking Canadians," despite pressure from the opposition to give the money to seniors and people who are not able to work.

Trudeau noncommittal on expanding rebate beyond 'working Canadians'

Winter storm watch issued as snow, heavy rain expected for B.C. coast

The storm is expected to start tonight and persist until Sunday. More heavy snow is expected in the inland sections of the north coast — including Stewart, which has already received 40 to 55 cm of snow this week — with up to 40 cm more expected between Saturday night and Monday.

Winter storm watch issued as snow, heavy rain expected for B.C. coast

BC Ferries CEO floats prospect that fares may rise 30% or more in 2028

The CEO of BC Ferries is warning the company may need to increase fares by 30 per cent or more in 2028, when the current fare structure expires. Nicolas Jimenez says in a written statement the corporation had forecast last year that such a price rise would be needed to keep up with operating and capital costs, but costs since then have spiked, including a 40 per cent jump in shipbuilding expenses.

BC Ferries CEO floats prospect that fares may rise 30% or more in 2028

Canada Post temporarily laying off striking workers, union says

The union representing Canada Post workers says the Crown corporation has been laying off striking employees as the labour action by more than 55,000 workers approaches the two-week mark. In a notice to members posted Monday, the Canadian Union of Postal Workers called the layoffs a "scare tactic" and said it's looking into the situation.

Canada Post temporarily laying off striking workers, union says

Eliminating open-net fish farms in B.C. would cost taxpayers billions: report

The proposed federal ban on open net-pen salmon farms in British Columbia coastal waters will cost taxpayers billions and seriously impact Canada's economy, food security and Indigenous communities, says a report commissioned by the BC Salmon Farmers Association.