Expect both the Liberals and Conservatives to take credit for the low deficit numbers released by Ottawa on Friday morning.
The Liberals say Canada posted a $1-billion deficit in 2015-16, a shortfall which looks good on PM Justin Trudeau since he announced in March there would be about a $5.4 billion deficit.
The budget was managed by both parties, as the year represented a change over in leadership.
Tories’ will likely take credit for the number, since they have argued that books were on track for a surplus before they were defeated in last fall’s election.
A $9.2-billion increase in personal income tax revenues and a $2.1-billion sale of Ottawa’s remaining General Motors shares helped the final numbers.
Compared to 2014-15 Federal revenues went up $13.1 billion compared with 2014-15, while expenses increased $17 billion and debt-servicing costs were down $1 billion.
Towards the end of their tenure, the Conservative government projected a $1.4-billion surplus for 2015-16.