Conservatives: still running a deficit

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eventually they hope to break even

 

 

The Conservative government had a $ 2.5 billion deficit in October, the same as in October 2012, a year ago.

It's sad because Finance Minister Jim Flaherty promised us that the deficit would be lower this year and here he is in the same hole as last year.

The reason is that less money than he expected came in to government coffers during October this year. The government did not pick up a $ 100 million that it had been expecting in October this year.

There was an increase in income taxes on individuals which compensated somewhat for lower income taxes paid by the big companies, but not enough to wipe out the continuing deficit.

Nonetheless, the big companies are grateful to Prime Minister Stephen Harper's for the tax breaks that he gave them this year.

Meanwhile, spending on government programs and services to the population increased by $ 100 million in October, while the cost of servicing the debt decreased by $ 200 million.

The federal deficit for October was $ 13.2 billion compared to the $ 11.9 billion deficit for the same month last year a year ago.

Perhaps eventually Canada will be able to reduce the national debt, something it has failed to do since the Conservative government came to power.

 

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