Canada column for Sunday, Nov. 27/16
THE CANADIAN REPORT
(c) By Jim Fox
Canada’s spending
deficit under the new Liberal government doubled to $2.4 billion in September
from a year earlier.
Prime Minister
Justin Trudeau earlier backed away from his election campaign vow for a
balanced budget by the end of the government’s four-year term.
Instead, the
current budget spending plan is said to help create 100,000 jobs and boost
national economic growth.
Revenues in the
month were about $21.7 billion, down from $22 billion, with lower corporate
income taxes, non-resident income taxes and excise taxes, and duties, the
Finance Department reported.
Infrastructure and
other program spending to stimulate the economy rose to $22.2 billion, up from
$21.2 billion a year ago.
In the first half
of the fiscal year, there was a deficit of $7.8 billion compared with a surplus
of $1.6 billion in the April-to-September period last year with the previous
Conservative government.
For the current
fiscal year, the government has forecast a $25.1-billion deficit.
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