Personal and corporate income taxes, and excise tax revenue are down, with corresponding increases in program expenses.  Program expenses in June 2009 were $20.7 billion, up $4.2 billion, or 25.2 per cent, from June 2008. This increase is largely attributable to higher EI benefit payments and the impact of support for the automotive sector.

This is essentially what the citizenry of Canada should expect, and with today’s announcement by Finance Minister Flaherty of a look forward focus on excelerated deficit reduction, there is reason to be hopeful that Canada is acting quickly to address it’s fiscal imbalance.

Government of Canada – The Fiscal Monitor