It is an exciting debate for accountants.
Mark Carney, the presumptive favourite in the Liberal leadership race, says a government led by him would introduce a new budget “framework” that would “separate” the federal government’s operating and capital budgets — drawing a distinction between spending that covers ongoing expenses for programs and services and spending that goes toward building and buying things like infrastructure, housing and military equipment. According to Carney, his government would aim to balance the operating budget within three years, while running a “small deficit” on capital spending.
