Release of the Fiscal Monitor - October 2006
The following News Release or Speech has just been posted on the Finance Canada Site.
Release of The Fiscal Monitor
The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for October 2006.
Highlights
October 2006: budgetary surplus of $0.4 billion
There was a budgetary surplus of $0.4 billion in October 2006, compared to a $1.6-billion surplus in October 2005. Revenues decreased by $0.2 billion, or 1.0 per cent, reflecting both the goods and services tax (GST) rate reduction and a number of one-time factors affecting income tax revenues. Program expenses increased by $1.0 billion, or 7.0 per cent, reflecting increases in transfer payments and departmental operating expenses. Transfer payments, which account for about two-thirds of total program expenses, increased by $0.6 billion, or 6.3 per cent. Public debt charges were down $19 million.
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