The Liberals won the federal election on Monday partly as a result of the perception that Prime Minister Mark Carney will move his government back to the political centre and be more responsible with taxpayer dollars. But in fact, according to his fiscal plan, he doesn’t think his predecessor, Justin Trudeau, was spending and borrowing enough.
To recap, the Trudeau government recorded 10 consecutive budget deficits, racked up $1.1-trillion in debt and recorded the six highest-spending years (per person, adjusted for inflation) in Canadian history from 2018 to 2023. Last fall, it projected large deficits (and $400-billion in additional debt) over the next four years, including a $42.2-billion deficit this fiscal year.
