The Canadian flag, in front of the Peace Tower on Parliament Hill in Ottawa on October 2, 2017. THE CANADIAN PRESS/Justin Tang

So far this year, federal program expenses up $10.9B compared to 2018-19

Finance department says government ran $5.2-billion deficit over first five months of current fiscal

A new report shows the federal government ran a deficit of $5.2 billion over the first five months of its current fiscal year following a $10.9-billion jump in program expenses compared with a year earlier.

The preliminary numbers from the Finance Department says the higher program spending represents a year-over-year increase of 9.1 per cent.

In comparison, the federal fiscal monitor says the government posted a $2.6-billion surplus during the same April-to-August period last year.

The higher spending was largely due to a $6.2-billion — or 12.3 per cent — increase in direct program expenses as well as, to a lesser degree, larger transfers to individuals and other levels of government.

Year-over-year, public debt charges increased by $700 million — or 7.2 per cent.

RELATED: Prime minister defends Liberal budget measures as sales effort gets underway

Government revenues were up $3.9 billion — or 2.9 per cent — from the same period last year, an increase mostly due to higher personal income tax revenues and includes $18 million for the federal portion of cannabis taxes.

The Liberal government forecasted a deficit in last spring’s budget of $19.8 billion for the 2019-20 fiscal year.

The Canadian Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Cattle Show set to return to Stettler Jan. 31st and Feb. 1st

“Stettler, historically, has been a very strong cattle community. It was a real hub for the cattle industry.”

RCMP Major Crimes Unit lays charges in Stettler death

Nicholas Climb Johnson, 32, of Stettler is charged with second degree murder in the death of his father

Stettler’s Big Brothers Big Sisters has plenty of events lined up for the first part of 2020

January is Mentoring Month across Canada and throughout North America

RCMP remind drivers about dangers of unlocked and idling vehicles

Leaving a vehicle running unattended creates a situation that criminals find difficult to resist

Stettler Junior Curlers traveled to the Wetaskiwin bonspiel Jan. 11th and 12th

Coming up on Feb. 8th and 9th, the Club will be hosting its own junior bonspiel with 28 teams registered

Canada to bolster screening of central China passengers for virus at 3 airports

Additional measures will include messaging on arrivals screens in Toronto, Montreal and Vancouver

Rebels fight back from 3-1 Raider lead to win 4-3 in shootout

Two goals by Zak Smith key to Rebels comeback

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

RCMP Major Crimes Unit lays charges in Stettler death

Nicholas Climb Johnson, 32, of Stettler is charged with second degree murder in the death of his father

Metis nations ask Ottawa to negotiate directly with them, not national body

Three provincial Metis nations will work through the national council until after the federal government releases its 2020 budget

Canada to give $25,000 to families of each Canadian who died in Iran plane crash

Prime Minister Justin Trudeau also made it clear that Canada still expects Iran to compensate victims

Oil and gas industry applauds top court’s dismissal of B.C.’s Trans Mountain case

The high court’s ruling Thursday removes one of the remaining obstacles for the project

Sylvan Lake RCMP seek assistance in locating missing male

Mark Crier, 17, was last seen in Sylvan Lake on Jan. 13

Most Read