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In article <20110731-144725.889.0@abc.shawnews.vc.shawcable.net>,
abc  <abc@a123.ca> wrote:
>Canada's budget deficit narrows
> 
>July 29, 2011
>
>OTTAWA � Canada�s budget deficit shrank in April and May from the same 
>period a year earlier as revenues increased by 2.9%, the Finance 
>Department said Friday.
>
>The federal government shortfall for the first two months of fiscal 2011
>-12 was $3.3-billion, down from a deficit of $4.43-billion for April and 
>May last year.
>
>For April of this year, the deficit totalled $442-million, down from 
>$2.44-billion a year earlier, while the government had a $2.86-billion 
>shortfall in May, compared with $1.99-billion in May 2010.
>
>Revenues during those two month rose by $1.1-billion to $38.3-billion, 
>reflecting gains from personal taxes (up $1.4-billion, or 7.8%) and 
>corporate taxes (up $400-million, or 10%), as well as employment 
>insurance premiums (up $300-million, or 8.5%.
>
>Those increases were partly offset by lower revenues from the goods and 
>services tax.
>
>Meanwhile, program expenses declined by $700-million, or 2%, mainly the 
>result of lower transfer payments.
>
>In its June 6 budget, the government trimmed its deficit forecast for the 
>current year and said it would eliminate its deficit ahead of schedule.
>
>Finance Minister Jim Flaherty said that following a spending review the 
>government �will achieve $4-billion in annual savings and allow the 
>government to return to budget balance by 2014-15, one year earlier than 
>previously planned.�
>
>In the pre-election March budget, Mr. Flaherty had forecast the deficit 
>would be erased by 2015-16.
>
>For 2010-11, preliminary estimates put the shortfall at $36.2-billion, 
>down from the previous forecast of $40.5-billion. The government expects 
>a 2011-12 deficit of $32.3-billion. 
>

Can the auditor general please verify?
-- 
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