Close X
Saturday, January 25, 2025
ADVT 
National

Ottawa runs $2.7B deficit in August compared with $2.3B deficit in August 2015

Darpan News Desk The Canadian Press, 28 Oct, 2016 01:01 PM
    OTTAWA — The federal government ran a deficit of $2.7 billion in August compared with a deficit of $2.3 billion in the same month last year.
     
    According to the Finance Department's latest fiscal monitor, revenue increased by $700 million or 3.2 per cent to nearly $22.9 billion, due to increases in corporate income tax revenue, excise taxes and duties and other revenues.
     
    Meanwhile, program spending increased by $1.4 billion or 6.1 per cent to nearly $23.4 billion due to increases in major transfers to persons and other levels of government and direct program expenses.
     
    Public debt charges fell $300 million or 11.7 per cent to nearly $2.2 billion, due to lower costs associated with bond buyback operations and a lower average effective interest rate.
     
    For the first four months of the fiscal year to August, the government ran a deficit of $5.4 billion compared with a surplus of $2.8 billion in the April-to-August period last year.
     
    Revenue for the four-month period fell $1.6 billion, or 1.3 per cent, to $117.8 billion, while program spending grew to $112.5 billion, up $7.8 billion, or 7.5 per cent, from a year ago. Public debt charges fell $1.1 billion to $10.7 billion.

    MORE National ARTICLES

    Former Marriage Commissioner Fights Requirement To Perform Same-Sex Ceremonies

    Former Marriage Commissioner Fights Requirement To Perform Same-Sex Ceremonies
    WINNIPEG — A former Manitoba marriage commissioner is asking a court to strike down the province's requirement that all commissioners perform same-sex marriage ceremonies.

    Former Marriage Commissioner Fights Requirement To Perform Same-Sex Ceremonies

    Lisa Raitt Has Made Up Her Mind On Leadership, But Not Yet Ready To Announce

    OTTAWA — Conservative MP Lisa Raitt says leadership candidate Kellie Leitch is trying to solve a problem that doesn't exist by suggesting the federal government should screen potential immigrants and refugees for anti-Canadian values.

    Lisa Raitt Has Made Up Her Mind On Leadership, But Not Yet Ready To Announce

    University Of Ottawa Hockey Team Prepares For Return After Two-year Suspension

    The University of Ottawa says its varsity hockey team is preparing to hit the ice again this fall, two years after the program was suspended in connection with a sexual assault investigation.

    University Of Ottawa Hockey Team Prepares For Return After Two-year Suspension

    Crown Lawyer Relays Chilling Account Of Work-place Shooting In Nanaimo, B.c.

    Crown Lawyer Relays Chilling Account Of Work-place Shooting In Nanaimo, B.c.
    A Crown lawyer says a man accused of killing two former co-workers and attempting to kill two others yelled "you know who I am" during a shooting rampage at his former workplace in Nanaimo, B.C.

    Crown Lawyer Relays Chilling Account Of Work-place Shooting In Nanaimo, B.c.

    B.C. Couple Who Faced Terror Charges Still Pose A Threat To Public: Crown

    B.C. Couple Who Faced Terror Charges Still Pose A Threat To Public: Crown
    VANCOUVER — A Crown lawyer says a British Columbia couple found guilty of masterminding a terrorist plot but then freed when a judge ruled they had been entrapped are still a danger to the public.

    B.C. Couple Who Faced Terror Charges Still Pose A Threat To Public: Crown

    Hospital Nurses Get Wage Increase, Better Health Benefits

    Hospital Nurses Get Wage Increase, Better Health Benefits
    An arbitration board has awarded the nurses a 1.4-per-cent wage increase in each year of the deal and better vision, hearing aid and dental implant coverage.

    Hospital Nurses Get Wage Increase, Better Health Benefits