Despite claims that “Canada’s new government” is being run by prudent fiscal managers, Ottawa still has a spending problem. In many ways, the spring economic update is proving something the Conservatives have been saying for months and most Canadians were not believing.

Mark Carney’s government is a lot like Justin Trudeau’s government and that includes their interventionist economic view and out-of-control spending.

LILLEY: Mark Carney Liberals relying on old ideas instead of seeking bold change Back to video

Many of the headlines after the spring update focused on the fact that it showed Carney’s deficit being $11.4 billion less than planned. Sure, compared to last November’s budget when they predicted a deficit of $78.3 billion for the fiscal year that just ended on March 31.

Coming in at $66.9 billion is preferable to $78.3 billion, but as recently as December 2024, the last fall economic statement for the Trudeau government, this same deficit had been projected to be $42.2 billion. So Carney’s lower deficit is still higher than past projections — not as bad as feared,........

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