FIS­CAL YEAR STARTS IN THE BLACK FOR FEDS, BUT RED INK ON WAY

National Post (National Edition) - - FINANCIAL POST -

The fed­eral govern­ment started the fis­cal year with the tini­est of bud­getary sur­pluses, though the black ink is ex­pected to turn very red in the com­ing months. The Fi­nance Depart­ment’s monthly fis­cal mon­i­tor re­ports that the govern­ment posted a $68-mil­lion sur­plus for April and May, just less than last year’s to­tal over the same pe­riod. The fed­eral govern­ment’s fis­cal year runs from April 1 to March 31. The sur­plus is not ex­pected to last, how­ever, as the Lib­er­als have promised to run deep deficits over the com­ing years to fi­nance ma­jor in­fra­struc­ture work and more lu­cra­tive child ben­e­fits. The feds ended up run­ning a $21.85-bil­lion deficit last year, and have pro­jected a $28.5-bil­lion deficit this year.

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