Give Stephen Harper An ‘Atta Boy’
Just so Kate’s prediction is wrong…
Not bad performance for the Canadian Government considering the worldwide financial meltdown… and if this gets any press, the Liberals and NDP will be in a tizzy.
Let’s hope Harper stays the course and resists the far-left cry for massive spending. It’s great to see program spending being under control in these results.
Canada Posts A Budget Surplus!
February 2009: budgetary surplus of $0.8 billion
There was a budgetary surplus of $0.8 billion in February 2009, compared to a surplus of $3.0 billion in February 2008. Budgetary revenues were down $2.7 billion, or 11.9 per cent, from February 2008, largely reflecting lower corporate income tax and goods and services tax (GST) revenues. Program expenses decreased by $0.1 billion, or 0.6 per cent, compared to February 2008, largely reflecting lower operating expenses of departments and agencies. Public debt charges decreased by $0.4 billion compared to February 2008.
April 2008 to February 2009: budgetary surplus of $1.3 billion
For the first 11 months of the 2008–09 fiscal year, there was a budgetary surplus of $1.3 billion, down $11.3 billion from the $12.6-billion surplus reported in the same period of 2007–08. Budgetary revenues decreased by $6.0 billion, or 2.7 per cent, primarily reflecting lower corporate income tax and GST revenues, partially offset by growth in personal income tax and other revenues. Program expenses were up $7.4 billion, or 4.2 per cent, due to higher transfer payments, Crown corporation expenses and operating expenses of National Defence. Public debt charges were down $2.0 billion on a year-over-year basis, reflecting a lower average effective interest rate on the stock of interest-bearing debt.
