Slide Deck D: 2018 Federal Budget Breakdown

Slides:

Advertisements

Similar presentations

The Federal Government’s Budget. The government ’ s fiscal year runs from April 1 to March 31. The upcoming budget will estimate revenues and expenditures.

Advertisements

FISCAL ACCOUNTABILITY OF STATE GOVERNMENT Presentation Prepared for the Appropriations Committee and the Finance, Revenue, and Bonding Committee by the.

Deficits and Debt. The Budget Process Taxes, especially personal income taxes, provide most of the federal government’s revenue.  The federal budget.

FMI Ontario Chapter PD Day Business Planning and Program Evaluation October 21, 2009.

Part B: The Federal Government’s Budget. The Federal Government ’ s Budget The government ’ s fiscal year runs from April 1 to March 31. The upcoming.

Compilation of ideas from Constituents.. Canada’s Economic Performance “Where we have been”  Balanced Budgets  Reduced national.

FISCAL POLICY 11 C H A P T E R Fiscal Policy One major function of the government is to stabilize the economy (prevent unemployment or inflation). Stabilization.

Part H: Post-Budget Analysis. The Federal Budget Minister of Finance Jim Flaherty delivered the federal budget on Tuesday, February 11.

Part B: Ontario’s Budget. The Ontario Budget The Ontario Government’s fiscal year runs from April 1 to March 31. The upcoming provincial budget will project.

Transparency 16-1 What Are the Major Federal Taxes? Personal income tax Corporate income tax Social security tax.

THE FEDERAL BUDGET  10 trillion and counting

Government Debt. The total amount owed by the federal government National Debt.

Macroeconomic Policy Instruments Tools to achieve macroeconomic objectives.

Chapter 25 Government Finance in the Full-Employment Model

Budget Deficits and the National Debt

PowerPoint E: International Comparisons

Managing Our Country’s Money

Let’s look at BUDGET DEFICIT….

Economics 202 Principles Of Macroeconomics

Where your money goes Chapter 10.2 & 10.3.

Warm-Up You are an economic adviser to a candidate for national office. She asks you for a summary of the economic consequences of a balanced-budget.

Managing the Country’s Money

Chapter 12 key terms pgs.289 FL1-312

13 FISCAL POLICY Government Spending and Tax Policy Part 1.

Slide Deck E: International Comparisons

Pre-budget Consultations

Slide Deck A: Budget Basics

Budget Balance and Government Debt

10 trillion and counting Solve the deficit

Fiscal Policy: Spending & Taxing

Fiscal Policy Fiscal Policy - Government effort to control the economy and maintain stable prices, full employment, and economic growth. Fiscal Policy.

Slide Deck D: 2018 Federal Budget Breakdown

Slide Deck 15B: Ontario’s Expenditures and Revenues

Starter Challenge: Who is the Minister for Finance in Ireland?

Terminology (Budget) Deficit – spending more money in a year than is taken in (National) Debt – the accumulation of yearly deficits plus interest (Budget)

Financing Government Chapter 16 Sections 2 and 3.

Slide Deck 15A: Budget Basics

Slide Deck D: 2018 Federal Budget Breakdown

Slide Deck A: Budget Basics

Slide Deck E: International Comparisons

Primary goal of the government:

Government Debt vs. Deficit

Debt and Deficit -Borrowing money affects both debt and deficit -Budget deficits add to debt -Debt and deficit contribute to unbalanced budgets Debt.

Deficits and Monetary Policy

13 FISCAL POLICY Government Spending and Tax Policy Part 1.

Slide Deck D: 2018 Federal Budget Breakdown

Slide Deck F: The Political Spectrum

PowerPoint A: Budget Basics

Taxes, spending, fiscal policy, deficits, surpluses, national debt

When revenues exceed expenditures, governments enjoy a budget surplus.

(Sources and Uses of Funds) (Flow of Funds Statement)

Slide Deck D: 2017 Federal Budget Projections

Budget and Economic Forecast

President Bush’s Health Plan

EXPLANATION The following slides describe the changes between the first draft of the general fund budget presented to the Board on March 28, 2017 and the.

Slide Deck F: The Political Spectrum

PowerPoint D: 2016 Federal Budget Projections

Fiscal policy choices.

Deficits and the Public Debt

Looking to Ottawa: disability policy issues at the federal level

THE GOVERNMENT AND THE ECONOMY

Objective 2.6 Sources of Revenue for the National Government

13 FISCAL POLICY. 13 FISCAL POLICY After studying this chapter, you will be able to: Describe the federal budget process and the recent history of.

Government Debt vs. Deficit

Board Study Session on Student Services Funding

Presentation transcript:

Slide Deck D: 2018 Federal Budget Breakdown

The Federal Government’s Budget Every February or March, the federal government releases its budget for the next year. The 2018 Budget was presented on February 27, 2018. Every year the federal government also releases an update on the budget numbers in the fall. The Government of Canada’s Fall Economic Update was released on November 21, 2018.

2018 Expenditures The 2018 federal budget projected expenditures for 2018-2019 to be $338.5 billion. In the fall economic statement, the projected expenditures were increased to $344.1 billion.

2018 Revenue The federal budget projected the amount of revenue for 2018-2019 to be $323.4 billion. In the fall economic statement, revenue projections were increased to $328.9 billion.

Surplus or Deficit? Based on the project 2018 revenues and expenditures, will the Government of Canada have a surplus or a deficit?

The deficit and our debt In the February 2018 budget, the federal government was projecting a deficit of $15.1 billion for this fiscal year. In the fall economic statement, the deficit was increased to $18.8 billion. To cover this gap, the federal government will borrow money and this amount will be added to the government’s debt. The federal government’s debt is currently estimated to be $687.7 billion.

Breakdown of Expenditures

Breakdown of Revenue Sources

2018 Budget Announcements Announcements and measures released in the 2018 federal Budget include: The federal budget will not be balanced until 2022. Pay-equity legislation for employees in the federal government, and federal-regulated sectors, to reduce the pay gap. $1.2-billion over five years to create a new five-week "use-it-or-lose-it" incentive for parental leave for new fathers. $447-million over five years to create a new Indigenous Skills and Employment Training Program. $1.4-billion over six years for First Nations child and family services.

2018 Budget Announcements Increase the take-home pay of low-income workers through a revamped tax credit called the Canada Workers Benefit. A new advisory council tasked with performing an economic assessment and running consultations on the feasibility of a national pharmacare program. An additional $3.8-billion over the next five years to support science. Consult media articles from the release of the 2018 budget to find more examples.