The federal government ran a budgetary deficit of $18.4 billion for its April-to-October period.
The result compared with a deficit of $14.5 billion for the same period a year earlier, according to the Finance Department’s monthly fiscal monitor report.
The deficit came as revenue for the seven-month period rose to $279.8 billion, up from $273.4 billion a year earlier, boosted by customs import duties imposed in response to U.S. tariffs, and higher corporate and personal income tax revenues.
Program expenses, excluding net actuarial losses, totalled $263.3 billion, up from $253.1 billion a year ago, due to increases in direct program expenses, major transfers to persons, and major transfers to provinces, territories and municipalities….