The federal government posted a $6.5 billion deficit in the first two months of the fiscal year. The Peace Tower on Parliament Hill in Ottawa is seen past construction cranes, ahead of Parliament's Monday return on Sunday, May 25, 2025. THE CANADIAN PRESS/Justin Tang
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year. The Peace Tower on Parliament Hill in Ottawa is seen past construction cranes, ahead of Parliament's Monday return on Sunday, May 25, 2025. THE CANADIAN PRESS/Justin Tang
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year.Â
The result for the April-to-May period compared with a $3.8 billion deficit for the same stretch last year.Â
Revenues increased $26 million, virtually unchanged from the prior year, as increases in customs import duties and pollution pricing proceeds to be returned to ´ºÉ«Ö±²¥s were largely offset by a decrease in revenues from corporate income and goods and services taxes.
The Finance Department says program expenses excluding net actuarial losses rose $2.9 billion, or four per cent.
Public debt charges increased $400 million, or 3.8 per cent, due to an increase in the stock of marketable bonds and higher consumer price index adjustments on real return bonds.
Net actuarial losses fell $600 million, or 46.8 per cent.Â
This report by ´ºÉ«Ö±²¥was first published July 25, 2025.
