Skip to main content

The federal government posted a deficit of $12.7-billion for June compared with a deficit of $33.6-billion in June 2020.

The drop in the deficit came as spending dropped compared with a year ago when Ottawa spent billions on emergency aid due to the pandemic and revenue improved.

Program spending, excluding net actuarial losses, totalled $39.1-billion in June, down from $51.3-billion a year earlier.

Revenue increased to $29.6-billion for the month, up from $19.9-billion in June last year.

Public debt charges increased to $1.9-billion from nearly $1.3-billion.

The federal deficit for the April to June period of the 2021-22 fiscal year totalled $36.5-billion compared with a deficit of $120.4-billion for the same period a year earlier.

Follow the party leaders and where they stand on the issues this election campaign by signing up for our Morning or Evening Update newsletters.

For subscribers only: Get exclusive political news and analysis by signing up for the Politics Briefing.