Government Finances

[jdobbin]

After October's deficit, November ekes out a slim surplus. There isn't much room in the budget for anything major in February.

http://www.ctv.ca/servlet/ArticleNews/stor...?hub=TopStories

The federal government is still on track to post an annual budget surplus after eking out a slim surplus in November, recovering from a deficit in October that was related largely to retroactive tax cuts in Finance Minister Jim Flaherty's fall mini-budget.

For the first eight months of Ottawa's current fiscal year, the surplus is estimated at $6.7 billion, including $100 million in November, the Finance Department said Friday.

The year-to-date surplus is slightly below the $6.9 billion that had been accumulated by November 2006.

The Conservative government had been on track to record a much larger surplus for the year ending March 2008 until last October, when it reported a $2.7-billion deficit as a result of retroactive tax cuts announced that month.

Program expenses increased by 6.5 per cent to $16.3 billion in November, up about $1 billion from the same month in 2006.

Half of the increased spending, about $500 million, was due to transfers to other levels of government. The other half was due to more subsidies ($300 million), higher spending by federal Crown corporations, government departments and agencies ($200 million) and higher debt charges ($100 million).

The government's revenues also increased in November but at a slower pace, rising to $19.2 billion, up $700 million from November 2006.

[capricorn]

Good. It's about time the government stops over taxing us to death and stops raking in obscene record surpluses. Just like ordinary Canadians, the government has to learn to live within its means and take tough decisions to cut program spending.

As a matter of fact, if anyone has any ideas on what federal programs to cut or has other ideas for the upcoming budget, let the government know in this online public consultation. Deadline for input is February 11, 2008.

http://www.fin.gc.ca/activty/consult/prebud08_e.html

If spending cuts result in a surplus, maybe we can benefit from other tax cuts in the future.

[Topaz]

Good. It's about time the government stops over taxing us to death and stops raking in obscene record surpluses. Just like ordinary Canadians, the government has to learn to live within its means and take tough decisions to cut program spending.

As a matter of fact, if anyone has any ideas on what federal programs to cut or has other ideas for the upcoming budget, let the government know in this online public consultation. Deadline for input is February 11, 2008.

http://www.fin.gc.ca/activty/consult/prebud08_e.html

If spending cuts result in a surplus, maybe we can benefit from other tax cuts in the future.

How about letting the people decide if they get a pay hike or not? As it is when they cut taxes they help themselves too so that so be the only pay hike they get, just like the rest of us.

[jacobhelliwell]

I think October's deficit and the small margins of surplus is a sign of a recession on the rise. The government should be less concerned with mediocre tax cuts, and should start thinking of ways to really stimulate the economy before we start to see a lower GDP and higher unemployment.

[Borg]

I think October's deficit and the small margins of surplus is a sign of a recession on the rise. The government should be less concerned with mediocre tax cuts, and should start thinking of ways to really stimulate the economy before we start to see a lower GDP and higher unemployment.

Perhaps freeing up some additional money for people to spend will keep the economy moving.

Borg

[geoffrey]

After October's deficit, November ekes out a slim surplus. There isn't much room in the budget for anything major in February.

This is the way it should be run, a few million within balance. A surplus on the government side is just as bad, if not worse, than a deficit.

[jdobbin]

This is the way it should be run, a few million within balance. A surplus on the government side is just as bad, if not worse, than a deficit.

Unfortunately, government spending has not gone down and this could be a problem in the months to come.

[capricorn]

Unfortunately, government spending has not gone down and this could be a problem in the months to come.

I'm glad to see we agree government must cut spending. I hope Harper makes the tough decisions in the next few months.

[jdobbin]

I'm glad to see we agree government must cut spending. I hope Harper makes the tough decisions in the next few months.

I hope that is true. I'd settle for the spending limits they promised in the election. With the possibility that some tax revenues will be lower in 2008, the possibility of deficits is greater without cutbacks in government spending.

[geoffrey]

I hope that is true. I'd settle for the spending limits they promised in the election. With the possibility that some tax revenues will be lower in 2008, the possibility of deficits is greater without cutbacks in government spending.

Where would we be financially if we kept the Kelowna accord that you so strongly supported?

[jdobbin]

Where would we be financially if we kept the Kelowna accord that you so strongly supported?

I supported Kelowna because it is an initiative that needs to be done given the very large increases in First Nations people nation-wide. The costs involved there in terms of not doing anything is rising fast.

For every spending program announced, I support several that cut spending. I supported the cut of $700 million for Via and the elimination of the military college in Quebec as a duplication not needed for our military. The Tories restored both.