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The Peace Tower on Parliament Hill in Ottawa.Sean Kilpatrick/The Canadian Press

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.

Ottawa to shift nearly $1-billion from public-service pension fund to general revenues

Public debt charges were $32-billion, down from $32.5-billion, mainly due to lower short-term interest rates on treasury bills and lower net interest on currency swap transactions.

Net actuarial losses for the period amounted to $2.9-billion compared with $2.3-billion a year ago.