The document summarizes the June 2019 Fiscal Monitor report published by the Government of Canada. It provides an overview and analysis of the government's fiscal performance for the period. It also discusses the Liberal government's spending increases in the lead up to the 2019 election campaign and analyzes budget commitments from the major political parties. The author concludes by encouraging readers to review additional government financial reports to better understand fiscal management in Canada.

1. WHAT IS THE
FISCAL MONITOR –
JUNE 2019
PAUL YOUNG CPA, CGA
AUGUST 31, 2019

2. PAUL YOUNG - BIO
• CPA, CGA
• Business Administration – Accounting Diploma
• Academia (PF1, FA4 and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Emerging Technology
• SME – Public Policy
• SME – Financial Solutions
• SME – Supply Chain Management
• SME – Internal Audit and Controls
• SME – Order to Cash Cycle
Contact information:
Paul_Young_CGA@Hotmail.com

3. AGENDA
• What is the fiscal monitor
• Fiscal Monitor (June 2019)
• Gas Tax/Transfers
• Blog – Fiscal Management
• Changes to Fiscal Monitor
• Maxine Bernier
• Conclusion

4. WHAT IS THE FISCAL MONITOR?
Features monthly highlights and details of the Government's fiscal performance for the 2019.. Future
Release Dates of The Fiscal Monitor.

5. FISCAL MONITOR – (JUNE 2019)
Source - https://www.fin.gc.ca/fiscmon-revfin/2019/2019-06-eng.asp
• Liberals have been on spending spree as part
of 2019 election call -
https://globalnews.ca/news/5476336/pre-
writ-liberal-spending-tours/
• PBO / Shipbuilding -
https://www.rcinet.ca/en/2019/06/21/canadi
an-surface-combatant-pbo-updated-estimate/
• PBO / tax reforms -
https://www.thestar.com/news/investigations
/2019/06/20/legal-tax-dodges-cost-canada-
25b-pbo-study-says.html
• Liberals have a structural deficit that is about
$18B/year
• https://globalnews.ca/news/5813091/liberals
-continue-spending-frenzy-on-eve-of-
election-call-2-8b-in-277-announcements-
last-
week/beta/?utm_expid=.kz0UD5JkQOCo6yM
qxGqECg.1&utm_referrer=https%3A%2F%2Fw
ww.google.com%2F

6. GAS TAX / TRANSFERS
Source - Source - https://www.fin.gc.ca/fiscmon-revfin/2019/2019-06-eng.asp
@justintrudeau said there would emphasis on
infrastructure through different funding like the
infrastructure bank. The problem is the infrastructure
bank has done little in terms of getting projects off the
ground.
@andrewscheer was part of a govt that set up
dedicated funding for infrastructure
https://www.slideshare.net/paulyoungcga/2019-
election-construction-and-business-investment-canada-
june-2019

7. PRE-ELECTION
SPENDING
•Source -
https://globalnews.ca/news/5782517
/analysis-trudeau-pre-election-
spending-new-brunswick-
pei/beta/?utm_expid=.kz0UD5JkQOC
o6yMqxGqECg.1&utm_referrer=https
%3A%2F%2Fwww.google.com%2F or
https://twitter.com/davidakin/status/
1166668827305947136/photo/1

8. FISCAL MANAGEMENT
• https://www.canadianmanufacturing.com/financing/trudeau-liberals-link-reckless-ontario-budget-with-scheers-conservatives-230955/
@PattyHajdu @JustinTrudeau
• https://www.cbc.ca/news/politics/andrew-scheer-to-run-deficits-
1.5147624?fbclid=IwAR3tHCSoG4x7M0neJyBDk4bIDfB5osqSyGKs8T8ZbAuvggkZT7Gn7ixg03Q
@andrewscheer has to see what the fiscal mess is before he can come up with gap action plan to fix the fiscal whole!
• https://www.slideshare.net/paulyoungcga/2019-election-fiscal-management-canada-may-2019
• https://www.cbc.ca/news/politics/andrew-scheer-to-run-deficits-
1.5147624?fbclid=IwAR3tHCSoG4x7M0neJyBDk4bIDfB5osqSyGKs8T8ZbAuvggkZT7Gn7ixg03Q
• Lib govt has structural deficit of $18.5B and you think that is ok, right? Yet your economic growth post 2009 recession on average is 2.0%. Harper
had GDP growth of 2.3% on average!
• Ontario is heading down the right path when it comes to eliminating its deficit. It is too bad that @fordnation does not have a partner in Ottawa.
Let’s hope 2019 will see the end of Trudeau as the PM!
• https://www.slideshare.net/paulyoungcga/ontario-economic-and-fiscal-mess
•
• https://www.slideshare.net/paulyoungcga/fiscal-management-harper-vs-trudeau (see slide 8)

9. FISCAL MONITOR
Source - https://www.fin.gc.ca/pub/fm-rf-index-eng.asp
• The fiscal monitor gives insight to how the Government Canada on the government taxation and spending cycles
March 2018 – Fiscal Monitor
April 2018 – Fiscal Monitor
As of April 2018 the Liberals no longer report
direct program spending by key departments

10. MAXINE BERNIER
• @MaximeBernier is full of himself if
he thinks that he can balance the
budget in two years! I have also look
at the government F/S for a few
years. Here is my analysis on the F/S –
• https://www.slideshare.net/paulyoun
gcga/2019-election-fiscal-
management-canada-may-2019

11. CONCLUSION
• Fiscal monitor will be only report that will be available during the 2019 election. The audited F/S will not
likely be available until after the 2019 election
• I would encourage people to also review Requests for Reports and Priorities to get understanding what is
actually going on with government - https://www.canada.ca/en/treasury-board-
secretariat/services/planned-government-spending/reports-plans-priorities.html
• All governments used lapsing funds. It is important for people to understand what lapsing funds are in
terms the government fiscal management cycle - https://www.slideshare.net/paulyoungcga/fiscal-
management-role-of-lapsing-funds
• The role of government is to see economic policies that will support economic growth. The government
can neither take full credit for a booming economy nor should be at fault when the economy is sluggish -
https://www.slideshare.net/paulyoungcga/2019-election-jobs-gdp-consumer-spending-housing-canada