The Peace Tower of Parliament Hill is seen with the Supreme Court of Canada on May 22, 2014 in Ottawa.Dave Chan/The Globe and Mail
The federal government ran a surplus of $1.6-billion in June compared with a surplus or $200-million in the same month last year.
The Finance Department said the increase came as revenue climbed $900-million or 3.8 per cent due to higher revenues from non-resident income tax, excise taxes and duties and employment insurance premiums.
Program spending was down $700-million or 3.2 per cent due to lower direct program expenses. Public debt charges increased by $100-million or 5.1 per cent.
For the April-to-June period the government had a surplus of $400-million compared with a deficit of $2.6-billion in the same period a year ago.
Revenues for the fiscal year to date were up $2.5-billion or 3.8 per cent, while program spending was down $400-million or 0.7 per cent.
Public debt charges for the period were down $49-million, or 0.6 per cent.
The fiscal monitor said the results for the first three months of the fiscal year provided limited information with respect to the outlook for the year as a whole, but suggested the results were on track with the spring budget.
An update of the economic and fiscal outlook for the year is expected in the fall.