Home
Search:
1146 feeds
357 categories
0 articles (<24 hours)
36 registered users

Use the Mobile version
Mobile

Follow our Twitter feed

View our Linkpartners
Links

Username:
Password:

Register | Retrieve

Culture


RSS FeedsOttawa rings in $14B deficit, slightly less than forecast
(The Star Fashion & Style)

 
 

17 september 2019 23:21:37

 
Ottawa rings in $14B deficit, slightly less than forecast
(The Star Fashion & Style)
 


OTTAWA—The federal government ended the fiscal year with a $14-billion deficit despite higher revenues, framing the fiscal challenge for political parties as they cost out their pledges and dangle the promise of balanced books.With federal political leaders on the campaign trail, Tuesday’s release of the annual financial report detailing the state of the government’s finances underscores again the Liberals’ broken 2015 election vow to balance the books by the current fiscal year.The Finance Canada report shows that the deficit was slightly less than the $14.9 billion forecast in the March 2019 budget.Personal and corporate income tax revenues rose by $12.9 billion, attributed to low unemployment, and strong company earnings in sectors such as finance, manufacturing and wholesale trade, the report showed. Higher expenses partially offset the extra revenues, notably in transfers to persons, such as seniors and children’s benefits (up by $2.3 billion), and transfers to other levels of governments for programs such as health and social services were up $5.4 billion. Direct program expenses — the cost of running 130 departments, agencies, Crown corporations and other agencies — rose by $6.9 billion, or 4.8 per cent.While Canada’s economy has performed well — unemployment is at a 40-year low — the report does caution about conditions ahead, noting that the economic expansion cooled in 2018, marked by lower oil prices and slower housing activity in the second half of the year.“There remain important uncertainties and risks in the global and domestic economies,” the report said.Kevin Page, president and CEO of the Institute of Fiscal Studies and Democracy, said the deficit, spending and revenue numbers are in line with assumptions made by the Parliamentary Budget Officer for his costings of the campaign promises by the political parties.“This is good news. A big divergence from PBO assumptions ...


 
35 viewsCategory: Culture > Fashion
 
Canadian Internet rates are falling, and you can thank the CRTC
(The Star Fashion & Style)
5 Sofia Richie x Missguided Pieces to Up Your Flex Game
(E! Online Fashion News)
 
 
blog comments powered by Disqus


Copyright © 2008 - 2024 Indigonet Services B.V.. Contact: Tim Hulsen. Read here our privacy notice.
Other websites of Indigonet Services B.V.: Nieuws Vacatures Science Tweets Nachrichten