Skip to main content

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.

Story continues below advertisement

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.

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.