Mark Carney

[Herman]

[Herman]

[Herman]

You never thought that you would see a prime minister who's more financially irresponsible than Trudeau.
You never thought that you would see a prime minister who lies more than Trudeau.
Somehow, in Mark Carney, you got both.

[Herman]

[Herman]

[Herman]

[Brent]

Mark Carney's spring economic update can best be described as treating Canadian taxpayers like mushrooms.

That is, by keeping them in the dark and covering them with manure.

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As parliamentary budget officer Annette Ryan reported in her assessment of the update, it raised far more questions than it answers.

Among her findings:

Carney's explanation of his $25-billion Canada Strong Fund (aka the sovereign wealth fund) lacks key information needed to evaluate it despite being financed by government debt. (Normally such funds are financed by surpluses, which the federal government doesn't have). Among other concerns, the update does not address whether interest payments on the added government debt will be weighed against the fund's performance.

No details are provided on how Carney plans to reach his NATO target of spending 5% of GDP on defence by 2035, which the PBO estimates will cost $159 billion in that year alone, add $63 billion to the deficit and increase the debt-to-GDP ratio by 6.3 percentage points, one of several factors contributing to "a concerning upward track" on government debt.

The effectiveness of Carney's major projects office, which is supposed to fast-track approvals of nationally significant infrastructure projects within two years, can't be assessed because it hasn't published any progress reports or developed a scorecard to track progress on its two-year mandate.

Carney's promise in the November 2025 budget committing $110 billion over five years to increase economic productivity — a key determinant of Canadians' standard of living which has been flat since 2022 — lacks the metrics needed to assess progress.