Newspaper article The Canadian Press

Feds Say Deficit through October at $6.3 Billion as Monthly Spending Drops

Newspaper article The Canadian Press

Feds Say Deficit through October at $6.3 Billion as Monthly Spending Drops

Article excerpt

Federal deficit $6.3 billion through October

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OTTAWA - Federal government spending continues to lag behind last year's pace, with spending in October one-fifth of what it was one year ago.

Between April and October of the 2016-17 fiscal year, the Liberals ran a deficit of $6.3 billion compared to a $9.3 billion deficit during the same stretch in 2015-16.

For October alone, the government ran a budgetary deficit of $300 million, lower than the $1.5 billion recorded during the same month last year.

The monthly fiscal monitor report says government revenue between April and October of this year was up $7.9 billion to $171.8 billion, a 4.8 per cent increase over the same period last year.

Personal and corporate tax revenues climbed by 5.4 per cent and 8.7 per cent, respectively. …

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