For the first ten months of fiscal year 2013-14, the federal government posted a deficit of $10.5 billion, an improvement of $3.3 billion from the deficit of $13.9 billion reported in the same period in 2012-13. The surplus in January 2014 was about $1 billion higher than that recorded in December 2013. The financial results for December 2013 and January 2014 mark a significant improvement from the fiscal performance in the previous eight months.Read More
The Conservative government is in a quandary about what to do with the surpluses projected to begin in 2015-16. As for the Opposition Parties, they aren’t saying much.Read More
It should be clear to all political parties that, after 2015, there will be little in the way of “surpluses” for the federal government to deal with critical policy challenges. The modest surpluses that are currently projected to begin in 2015-16 will be rapidly used up and the potential for economic growth will be unable to generate future sizeable annual surpluses (“We’re Not Out Of The Fiscal Woods Yet” iPOLITICS February 24, 2014). The “surplus” budgets of the 1990s and the years up to 2007-08 will not to be repeated.Read More
When Budget 2014 was tabled before Main Estimates 2014-15, we were naively hoping that the President of the Treasury Board would provide a detailed reconciliation between spending in the Main Estimates and spending in the Budget for 2014-15. No such luck. No reconciliation was provided.Read More
For the first nine months of fiscal year 2013-14, the federal government posted a deficit of $12.7 billion, an improvement of $1.7 billion from the deficit of $13.6 billion reported in the same period in 2012-13. This marks a significant improvement from the fiscal performance in the previous eight months.