Prime Minister Mark Carney plans to spend more and run deficits more than twice as large over the next five years compared to those planned by the previous Liberal government, according to a new study by the Fraser Institute.

As a result, Carney’s combined deficits are projected to total $321.7 billion from 2025-26 to 2029-30 — $167.3 billion higher than the $154.4 billion former prime minister Justin Trudeau was projected to spend during the same period, according to the report by the fiscally conservative think-tank.

GOLDSTEIN: Study accuses Carney Liberals of 'substantially' worsening federal finances Back to video

The study says that will increase the total federal debt to a projected $2.9 trillion in 2029-30 or 79% of GDP.

In addition to running higher deficits, the Fraser Institute report says the Carney government plans to increase spending by $67.6 billion over five years compared to the Trudeau government’s projections —........

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