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

Chilliwack Chiefs take out shorthanded Trail Smoke Eaters in Sunday BCHL battle

Tommy Lyons and Kyle Penney scored two goals apiece as the Chiefs won their third straight game.

Cowboy Christmas brings classic Dickens tale with a cowboy twist to Chilliwack Cultural Centre

Ebenezer Scrooge meets the Wild West in a Christmas Carol story like no other on Dec. 19 in Chilliwack

VIDEO: Rotary Christmas Parade rolls through downtown Chilliwack

Thousands of kids and adults gathered Saturday night for Chilliwack’s annual Christmas Parade

VIDEO: Christmas Gifts Expo on now at Chilliwack Heritage Park

The annual festive expo features 260 local artisans and small mom-and-pop businesses

SUV on fire on Highway 1 between Abbotsford and Chilliwack

Emergency crews on scene and blocking the right lane

VIDEO: SNL skewers Trudeau’s mockery of Trump in high school cafeteria sketch

The three world leaders won’t let Trump sit at the cool kids’ table

Conservatives urge Morneau to deliver ‘urgent’ fall economic update

Morneau says the first thing the Liberals plan to do is bring in their promised tax cut for the middle class

B.C. creates $8.5M organization to improve safety for health care workers

Group will bring together unions, province, health care organizations

Four men in hospital after early morning Vancouver stabbing

A large group of men was seen fighting in Yaletwon

Kovrig clings to humour as ‘two Michaels’ near one year in Chinese prison

Their detention is widely viewed as retaliation for Canada’s arrest of Chinese high-tech scion Meng Wanzhou

B.C. VIEWS: An engine that hums right along

First Nations are leading a new surge of investment in B.C.

Brain injury from domestic abuse a ‘public health crisis,’ says B.C. researcher

Nearly 80% of the domestic violence victims who reported to police last year were women

Campbell River mom’s iPhone containing priceless photos stolen from Victoria hospital parkade

The phone contained photos, heartbeat recordings of her late son

Most Read