Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Canada's budget deficit narrowed to CAD57.2 billion between April and August from CAD170.5 billion in the year-ago period. Revenue surged 53% and program spending declined 25% after the success of mass vaccinations against Covid-19.
The monthly deficit for August reported on Friday narrowed to CAD9.8 billion from CAD21.9 billion a year ago, the Finance Department's Fiscal Monitor report said. Finance Minister Chrystia Freeland in April projected a CAD155 billion deficit this fiscal year and booked a record CAD354 billion deficit for the fiscal year that ended in March.
Sources have told MNI that Trudeau has a de facto majority government on deficit spending even after failing to win a majority of seats in a Sept. 20 election, given the stance of opposition parties. Trudeau's Liberals proposed CAD78 billion of new spending over the next five fiscal years and said new taxes on banks and the wealthy will slim the deficit to CAD32.1 billion over that time. Earlier this month, Freeland scaled back most relief checks and said they will likely come to an end in May.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.