Ottawa runs $1.6B surplus in June
OTTAWA - 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.
Ottawa runs $1.6B surplus in June | CTV News (external - login to view)