The Fiscal Monitor
As a result, the March 2010 results are notdirectly comparable with those o March 2009.The practice o including available inormationrelated to year‑end accruals in the March resultswill continue in uture years.In March 2010, transer payments were up$2.1 billion, or 15.8 per cent, rom March 2009.
o elderly, EI and children’s benets,decreased by $43 million, or 0.7 per cent.Elderly benets increased by $0.1 billion, or2.2 per cent. EI benet payments decreasedby $0.1 billion, or 6.5 per cent, refecting adecline in regular benets. Children’s benets,which consist o the Canada Child TaxBenet and the Universal Child Care Benet,increased by $26 million, or 2.5 per cent.
consisting o ederal transers in support o health and other social programs (CanadaHealth Transer and Canada Social Transer),scal transers, transers to provinces onbehal o Canada’s cities and communities,and Alternative Payments or StandingPrograms, were up $0.7 billion, largelyrefecting legislated growth in Equalizationtransers, a decrease in the Youth AllowanceRecovery (which is reported as a reductiono scal transers), and transitional assistanceto British Columbia related to its decisionto adopt the Harmonized Sales Tax (HST)ramework.
refecting increases across several departments.
expenses o Crown corporations, departmentsand agencies, including National Deence,and also refect the ongoing assessment o the Government’s liabilities. These expensesincreased by $5.1 billion over the prior year,largely refecting the inclusion o availableinormation related to 2009–10 year‑endaccruals.Public debt charges decreased by $12 millioncompared to March 2009.
up $0.2 billion, or 69.0 per cent.
or 47.1 per cent, driven by higher GSTrevenues. GST revenues were up $1.2 billion,or 90.7 per cent. As indicated in previousmonths, GST revenues were expected torecord stronger growth in the last quartero the scal year than earlier in the scal year,refecting the unwinding o timing impactsand the projected recovery in spendingon items that are subject to the GST. As avalue‑added tax, GST revenues representthe dierence between total GST owed tothe Government and credits claimed or GSTpaid on inputs. For example, GST revenuesin 2008–09 o $25.7 billion were derived romtotal GST assessed o about $167.0 billion,less $141.3 billion o input tax credits,rebates, and credits to persons. As a result,timing dierences between the much largervalue o GST owed to the Government andcredits claimed or GST paid on inputs canyield volatile net collections on a monthlybasis. Energy taxes were down $13 million,customs import duties were down $54 million,and other excise taxes and duties were down$3 million.
or 5.6 per cent.
enterprise Crown corporations, revenues o consolidated Crown corporations, proceedsrom the sale o goods and services, returnson investments, oreign exchange net revenuesand miscellaneous revenues, were down$1.3 billion, or 46.3 per cent, largely refectinga decline in enterprise Crown corporation netprots and oreign exchange losses recordedon oreign currency loans in support o development and trade.Program expenses in March 2010 were$26.9 billion, up $7.2 billion, or 36.4 per cent,rom March 2009. This increase largely refectsthe inclusion in the March 2010 results o inormation available to date regarding year‑endaccruals and valuation adjustments to assets andliabilities. This inormation has been includedin the March
or the rst time.