Canada's budget surplus for this fiscal year is now $8.7 billion. This is a new increase for the current fiscal year, on top of what the government announced recently for the 2006-07 year.

The government has released its financial results for Your View August and the growing budget surplus continues to exceed the government's own projections made in the 2007 Federal Budget. That budget projected a 2.4 percent increase but with today's numbers that increase is now running at 6.3 percent. Higher corporate tax revenues are driving the surplus higher. In August corporate income tax revenues rose 13.4 percent. That's down from the 25 percent increase in July.

And if you are curious about the government's expenses, they are up too. In this fiscal program expenses have risen by $4.4 billion, or 6.2 per cent. The monthly report says it reflects "increases in transfer payments and operating expenses of departments and agencies, including National Defence."