March 2016
Fiscal Monitor for April 2015– January 2016
The federal government posted a surplus of $1.1 in January 2016, compared to a surplus of $2.2 billion in January 2016. As a result, there was a surplus of $4.3 billion for the first ten months of 2015-16, compared to a surplus of $1.3 billion in the same period in 2014-15.
Read MoreFinance Committee Pre-Budget Consultations – A Waste of Time and Resources
On March 11th, less than two weeks before the tabling of the Liberals” first Budget, the Standing Committee on Finance released its budget recommendations based on consultations with 92 Committee witnesses and another 175 witnesses who provided written submissions. Unfortunately, by then, most budget decisions had already been made and the chances that the Committee’s recommendations (other than Liberal election promises) would have any impact on the Budget were virtually non-existent. But no one really expected they would, given the length of time the Com
Read MoreTHE MAIN ESTIMATES FOR 2016-A PROMISE DELAYED
In his February Economic and Fiscal Update, Finance Minister Bill Morneau forecast that total budgetary expenses would be $293.1 billion in 2015-16 and $304.5 billion in 2016-17. The following day, the President of the Treasury Board, Scott Brison, tabled the Main Estimates for 2016-17, showing total expenditures for 2015-16 at $250.7 billion ($42.4 billion lower than forecast by the Minister of Finance) and $250.1 billion for 2016-17 ($54.4 billion lower than forecast by the Minister of Finance).
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