May 2016

2015-16 WILL SHOW A DEFICIT: THE ONLY QUESTION IS HOW BIG?

The federal government posted a deficit of $9.4 in March 2016, compared to a deficit of $3.0 billion in March 2015.  The increase in the year-over-year deficit was primarily due to lower budgetary revenues (down $5.0 billion), reflecting the timing of receipts. As a result, there was a deficit of $2.0 billion for the April 2015 to March 2016 period, compared to a surplus of $2.9 billion in the same period in 2014-15.

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THE FINAL BUDGET OUTCOME FOR 2015-16 IS STLL UNCERTAIN

The federal government posted a surplus of $3.2 in February 2016, compared to a surplus of $4.6 billion in February 2015.  As a result, there was a surplus of $7.5 billion for the first eleven months of 2015-16, compared to a surplus of $5.9 billion in the same period in 2014-15.

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FEDERAL SUPPORT FOR INNOVATION; A SUGGESTION

Canada is suffering from an innovation deficit, which has been worsening for years. The result has been a dramatic decline in productivity growth and the economic growth potential of the economy. For decades, we have been living off unsustainably high commodity prices, particularly for oil and gas, at the expense of innovation and global competitiveness.

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