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Need to Know: Carney's budget deficit could be even higher than Trudeau's (The Hub)


Mark Carney’s leadership campaign went to great lengths to create distance between him and the Trudeau government on economic and fiscal policy. His own policy backgrounder pointedly criticizes his predecessor’s overspending and expansion of government.

He’s said that he would separate the government’s operating and capital budgets and run a “small” capital deficit of roughly 1 percent of GDP—or what amounts to annual borrowing of about $30-35 billion per year.

This has been characterized in the media—and certainly implied by the Carney campaign—as less spendthrift than Justin Trudeau’s government.

What do the facts tell us? Is the Carney plan actually a tighter fiscal policy than the Trudeau government’s? The answer is not really ...

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