Archived - Release of The Fiscal Monitor for December 2014

February 27, 2015 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for December 2014.

There was a budgetary surplus of $2.4 billion in December 2014, compared with a surplus of $1.2 billion in December 2013. The transfer of General Motors common shares to Ontario raised the budgetary surplus by $0.9 billion.

Revenues increased by $1.0 billion, or 4.3 per cent, as increases in corporate income tax revenues and other revenues were partially offset by a decrease in personal income tax revenues. Program expenses decreased by $0.2 billion, or 1.2 per cent, largely reflecting a decrease in direct program expenses, offset in part by an increase in major transfers to other levels of government. Public debt charges increased by $32 million, or 1.5 per cent.

Nicholas Bergamini
Press Secretary
Office of the Minister of Finance

Stéphanie Rubec
Media Relations
Department of Finance

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