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Overview of federal government budgetary revenues and expenses as set out in Budget 2023.

Estimated revenues for 2023–2024 total $457 billion. They comprise the following:

  1. Income taxes, at $313 billion, which include
  • Personal income tax, at $214 billion,
  • Corporate income tax, at $86 billion,
  • Non-resident income tax, at $13 billion;
  1. Excise taxes/duties, at $70 billion, which include
  • Goods and Services Tax, at $51 billion,
  • Custom imports duties, at $7 billion,
  • Other taxes/duties, at $12 billion;
  1. EI premium revenues, at $28 billion;
  2. Pollution pricing, at $10 billion;
  3. Enterprise Crown corporations, at $6 billion;
  4. Other programs, at $27 billion; and
  5. Net foreign exchange, at $3 billion.

Estimated expenses total $497 billion and comprise the following:

  1. Transfers to other governments, at $106 billion, which include
  • Health transfers, at $53 billion,
  • Social transfers, at $16 billion,
  • Equalization, at $24 billion,
  • Territorial Formula Financing, at $5 billion,
  • Child care, at $6 billion,
  • Community building, at $2 billion;
  1. Actuarial losses, at $6 billion;
  2. Public debt charges, at $44 billion;
  3. Transfers to persons, at $126 billion, which include
  • EI benefits, at $24 billion,
  • Elderly benefits, at $76 billion,
  • Canada Child Benefit, at $26 billion; and
  1. Direct program expenses, at $221 billion, which include
  • Operating expenses, at $124 billion,
  • Other transfer payments, at $86 billion,
  • Fuel charge proceeds return, at $11 billion.
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