Presentation is loading. Please wait.

Presentation is loading. Please wait.

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.

Published byMartha Long Modified over 9 years ago

Similar presentations

Presentation on theme: "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."— Presentation transcript:

1 The Federal Government’s Budget

2 The government ’ s fiscal year runs from April 1 to March 31. The upcoming budget will estimate revenues and expenditures for the next fiscal period (April 1, 2015 to March 31, 2016). It is expect to be released in April.

3 What are the government ’ s expenditures? The federal government is responsible for matters of national concern, such as defence, international trade and public safety. To deliver on these responsibilities the federal government must spend money. These costs are known as expenditures. The projected expenditures for 2015-2016 are $292.6 billion.

4 What are the government ’ s revenues? In order for the federal government to pay for its expenditures, the government collects money from individuals and businesses through taxes and other forms of income or profits. The money collected or earned is called revenue. Projected revenue for 2015-2016 is $294.5 billion.

5 Surplus vs. Deficit A surplus occurs when you have more revenue than expenditures. A deficit happens when you have more expenditures than revenue, or when you are spending more than you are earning. The federal government initially projected a surplus of $6.4 billion for next year. In the fall economic update, the surplus was adjusted to $1.9 billion.

6 How much is our federal debt? When you have a deficit, you need to borrow money to cover the shortfall or gap. The money you borrow becomes your debt. Your debt is the accumulation of annual deficits. The federal government ’ s current debt is approximately $613.9 billion.

7 How much interest do we pay? Just like individuals and businesses, the government has to pay interest on its debt. Interest is the amount charged by lenders to carry the debt. Most of this debt is owed to Canadians, including citizens and domestic institutions holding federal bonds, treasury bills and other forms of the debt. Next year, the federal government ’ s interest charges are expected to be $30 billion.

8 Discussion Questions Are you surprised with the amount of Canada ’ s debt (approximately $615 billion)? The 2015-2016 federal budget is expected to include a surplus. What should the government do with the surplus?

Download ppt "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."

Similar presentations

Deficits: Fiscal, Revenue & Trade – By Prof. Simply Simple Prof. Simply Simple had earlier taken you through the concept of Fiscal Deficit. (For ref: kindly.

Deficits: Fiscal, Revenue & Trade – By Prof. Simply Simple Prof. Simply Simple had earlier taken you through the concept of Fiscal Deficit. (For ref: kindly.
National Debt. Budget Deficit – The amount by which expenditures exceed revenues (G>T) - $186.5 Billion (2007) Budget Surplus – The amount by which revenues.

National Debt. Budget Deficit – The amount by which expenditures exceed revenues (G>T) - $186.5 Billion (2007) Budget Surplus – The amount by which revenues.
Deficits and Debt. The Budget Process Taxes, especially personal income taxes, provide most of the federal government’s revenue.  The federal budget.

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

Introduction to Macroeconomics
Chapter 13: Government Spending, Taxing, and National Debt.

Chapter 13: Government Spending, Taxing, and National Debt.
National Debt. What do we owe? April 2015 National Debt has reached $18.2 trillion Average of: $56,728 per person Average of: $154,161 per tax payer.

National Debt. What do we owe? April 2015 National Debt has reached $18.2 trillion Average of: $56,728 per person Average of: $154,161 per tax payer.
TAX BASES & STRUCTURES. Most Common Tax Bases Individual income tax Corporate income tax Sales tax Property tax.

TAX BASES & STRUCTURES. Most Common Tax Bases Individual income tax Corporate income tax Sales tax Property tax.
McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved.
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.

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.
National Deficit & Debt. Basic Definitions A budget deficit occurs when an entity (often a government) plans to spend more money than it takes in. The.

National Deficit & Debt. Basic Definitions A budget deficit occurs when an entity (often a government) plans to spend more money than it takes in. The.
Unit 8 - Federal Budget Policies n The Federal Budget Deficit or Surplus is the yearly difference between federal government expenditures and revenues.

Unit 8 - Federal Budget Policies n The Federal Budget Deficit or Surplus is the yearly difference between federal government expenditures and revenues.
The Basics of Budgeting. What is a Budget? A budget is a plan for money – a breakdown of expected income and expenses for a specific period. It helps.

The Basics of Budgeting. What is a Budget? A budget is a plan for money – a breakdown of expected income and expenses for a specific period. It helps.
Section Outline 1 of 7 Government’s Role In Our Economy Section 3: Managing the Economy I.The Nation’s Economic Health II.The Federal Budget III.Federal.

Section Outline 1 of 7 Government’s Role In Our Economy Section 3: Managing the Economy I.The Nation’s Economic Health II.The Federal Budget III.Federal.
The use of government spending and taxing to achieve economic growth, full employment and stable prices. FISCAL POLICY Chapter 15.

The use of government spending and taxing to achieve economic growth, full employment and stable prices. FISCAL POLICY Chapter 15.
ECONOMIC POLICY A BRIEF OVERVIEW HONORS GOVERNMENT.

ECONOMIC POLICY A BRIEF OVERVIEW HONORS GOVERNMENT.
Institution Affiliation: Date:. Introduction Federal reserve and discounting rates Discount rates and bank interest rates Using monetary policy to avoid.

Institution Affiliation: Date:. Introduction Federal reserve and discounting rates Discount rates and bank interest rates Using monetary policy to avoid.
Warm-up 5/10/12  Yesterday we talked about welfare programs to help people in need. How does the government pay for these programs?  What limits how.

Warm-up 5/10/12  Yesterday we talked about welfare programs to help people in need. How does the government pay for these programs?  What limits how.
National Debt v. Budget Deficit. Government Spending Vocab terms related to National Debt & Budget Deficit Revenue = money collected by the government.

National Debt v. Budget Deficit. Government Spending Vocab terms related to National Debt & Budget Deficit Revenue = money collected by the government.
The National Debt Mr. Seely Economics. Balancing the Budget Balanced Budget- a budget in which total revenues are equal to total spending. Budget Surplus-

The National Debt Mr. Seely Economics. Balancing the Budget Balanced Budget- a budget in which total revenues are equal to total spending. Budget Surplus-
Deficit vs. Debt Deficit: how much more Government spends than it receives in tax revenue over 1- year Debt: total amount Government owes (has borrowed.

Deficit vs. Debt Deficit: how much more Government spends than it receives in tax revenue over 1- year Debt: total amount Government owes (has borrowed.

Similar presentations

Ads by Google