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

Just Posted

William Griffin arrested in Houston homicide

RCMP have now arrested William Griffin, the man wanted in connection to… Continue reading

Moving story of WWII veteran’s reluctant return to Juno Beach being performed Nov. 23 in Quesnel

Nov. 23 presentation of Jake’s Gift at Quesnel Legion is a dinner theatre performance

Contract for old QJS demolition expected this week

SD28 secretary-treasurer expects work on the old school site will begin soon

Roos get break on ad fees for Coy Cup

City of Quesnel will also help them show off their banners while the tournament is hosted

VIDEO: B.C. couple creates three-storey ‘doggie mansion’ for their five pups

Group of seven, who Kylee Ryan has dubbed as the ‘wandering paws,’ have a neat setup in Jade City

Port Alberni mom takes school district to court over Indigenous smudging, prayer in class

Candice Servatius, who is an evangelical Christian, is suing School District 70

Family of B.C. man killed in hit-and-run plead for tips, one year later

Cameron Kerr’s family says the driver and passengers tried to cover their tracks

Princeton couple pays for dream vacation with 840,000 grocery store points

It’s easy if you know what you are doing, they say

B.C. municipality wants ALC to reconsider their decision in regard to pipeline work camp

The ALC had rejected the construction of the Coastal GasLink work camp behind the Vanderhoof airport in October

Chilliwack family’s dog missing after using online pet-sitting service

Frankie the pit bull bolted and hit by a car shortly after drop off through Rover.com

B.C. wildlife experts urge hunters to switch ammo to stop lead poisoning in birds

OWL, in Delta, is currently treating two eagles for lead poisoning

B.C. First Nations drop out of court challenge, sign deals with Trans Mountain

Upper Nicola Band says deal represents a ‘significant step forward’

Most Read