Section 3: Revenues, expenses and accumulated deficit for the year ended March 31

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Revenues, expenses and accumulated operating deficit

Table 3.1
Revenues, expenses and accumulated operating deficit
(in millions of dollars)
  2025 2024
Revenues
Tax revenues, Table 3.2 416,705 382,120
Employment insurance premiums 31,530 29,560
Pollution pricing proceeds 13,552 10,503
Other revenues, Table 3.4 49,164 37,366
Total revenues 510,951 459,549
Expenses
Transfer payments 359,415 326,649
Other expenses, excluding net actuarial losses 130,454 140,014
Total program expenses, excluding net actuarial losses 489,869 466,663
Public debt charges, Table 3.8 53,410 47,273
Total expenses, excluding net actuarial losses, Table 3.6 543,279 513,936
Annual operating deficit before net actuarial losses (negative 32,328) (negative 54,387)
Net actuarial losses (negative 4,020) (negative 7,489)
Annual operating deficit (negative 36,348) (negative 61,876)
Accumulated operating deficit at beginning of year (negative 1,245,494) (negative 1,183,618)
Accumulated operating deficit at end of year (negative 1,281,842) (negative 1,245,494)

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