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.