Sep 14, 2015
By Michael Kramer
The Harper government has ended a string of half-a-dozen deficits – just edging through with a 1.9-billion-dollar surplus in 2014-15.
And that pulls Canada’s books back into balance – ahead of schedule.
The federal government’s own prediction called for a two-billion-dollar deficit – and its forecast called for a return to balance – in the current fiscal year.
The yearly report from the Finance Department said the 3.9-billion-dollar move – from an expected shortfall to a surplus – was largely due to revenue growth coming in three-billion dollars higher than projected.
The personal and corporate income tax categorys each raked in 1.5-billion more than projections.
There was also another major contributor : lower-than-expected expenditures, led by 1.5 billion in funding that wasn’t spent by government departments.
On the campaign trail today Conservative Leader Stephen Harper reiterated his message that experts have predicted the economy will bounce back – over the second half of the year – and it’s very clear there is very strong upward momentum in the Canadian economy.
Liberal leader Justin Trudeau has accused the Conservatives of making cuts to seniors programs, Veteran’s Affairs and Aboriginal Affairs – so the books could be balanced in time for the election.
And NDP leader Tom Mulcair called the 1.9 billion dollar surplus “good news for Canadians,” adding that the NDP is going to be “starting off on the right foot” after it wins the election.