Deficit for 2017-18 Could Be Lower than That in 2016-17 or Not

The federal government posted a budgetary deficit of $2.8 billion in November 2017, compared to deficit of $3.3 billion in November 2016.

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IS THE FINANCE DEPARTMENT UNDERSTATING DIRECT PROGRAM EXPENSES?


In a recent report the University of Ottawa’s Institute of Fiscal Studies and Development (IFSD )argued that the October 2017 Fall Economic Statement (FES) understated the growth in direct program expenses and that as a result expenditure reductions would be required in the 2018 budget.  Professor Gordon of Laval University, in an article in the National Post, expressed a similar view.

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PLANNING THE 2018 BUDGET

 

By now the Finance Minister should be close to putting the “finishing touches” on his 2018 budget.

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Fiscal Monitor for April – May 2017: A Small Surplus That Is Not Expected to Last


For the first two months of fiscal year 2017-18, the federal government posted a surplus of $68 million, compared to a surplus of $114 million from the same period in 2016-17. The slight deterioration in the surplus was largely attributable to a 28.3% year-over-year increase in the Canada Child Benefit, reflecting the 2016 Budget measures, which came into effect in July 2016.

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Fiscal Monitor for April – September 2017

 

The federal government posted a budgetary deficit of $3.2 billion in September 2017, compared to deficit of $2.4 billion in September 2016.

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THE GOVERNMENT NEEDS A NEW APPROACH TO INCOME TAX REFORM

 

What a mess the Finance Minister, the Finance Department, the Prime Minister’s Office, and the Privy Council Office created, over the past few weeks, in their attempt to reform the taxation of Canadian Controlled Private Corporations (CCPC).

The Finance Minister has now backtracked on the most contentious of his original proposals, and has made some of the other proposals more palatable.  Given all this, why did the Finance Minister even bother with his July 18th proposals in the first place?

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