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

Surrey agency receives $250K to open ‘no cost’ legal clinic

Law Foundation of B.C. provided the grant to Sources Community Resources Society

Surrey to get 314 new child care spaces

These will be at 13 places throughout the city, Surrey-Newton MLA Harry Bains announced Wednesday

Former Canucks player from White Rock suing financial advisors for negligence

Jason Garrison claimed his advisors failed to take his circumstances into account

Autism support dog refused bus access for being a ‘pet’

White Rock grandmother files complaint with TransLink, calls for better awareness of service dogs

PHOTOS: Surrey Community Leader award winners revealed

Ten outstanding representatives of Surrey’s vibrant community took home trophies Tuesday night

VIDEO: Disney Plus gives Canadians a streaming platform that nearly matches U.S. version

The Walt Disney Company’s new subscription platform unveiled a comprehensive offering of nearly 500 films

What happens if Metro Vancouver bus drivers start a ‘good work’ strike?

Unifor has said they could get ‘creative’ with fare collection if transit strike drags on

Maple Ridge’s anti-panhandling bylaw gets final OK

Council votes 6-1 to ban aggressive begging

Nearly half of B.C. drivers nervous in winter conditions: BCAA

‘Wait and see’ approach common practice for 32% of B.C. motorists

Students plan rally at B.C. education minister’s office as district strike enters third week

Saanich School District students plan to rally outside Rob Fleming’s constituency office in Victoria

Sex assault charge stayed against Port Moody mayor

Rob Vagramov completed an alternative measures program, special prosecutor said

73% of B.C. residents agree with a temporary ban on vaping products: poll

54% say they would not date someone who vapes, Research Co. poll suggests

B.C.’s 13-cent gasoline gap still a mystery, Premier John Horgan says

NDP plans legislation this month, seeks action from Justin Trudeau

Group walking on thin ice at B.C. lake sparks warning from RCMP

At least seven people were spotted on Joffre Lakes, although the ice is not thick enough to be walked on

Most Read