Mark Carney’s first budget plots a sharp departure from past fiscal plans

By Craig Lord Prime Minister Mark Carney’s government is getting ready to table its first budget this week — one that will be markedly different from budgets of the past. “This one is important for a bunch of reasons that might actually be unique to this particular circumstance,” said Sahir Khan, vice-president of the Institute of Fiscal Studies and Democracy at the University of Ottawa. This budget is the Liberals’ first fiscal update in almost a year and the first summary of Carney’s agenda since the party released its spring election platform. Since then, key Canadian industries have taken a sharp hit from the trade war with the United States. A weaker economy means lower revenues for government. Add to that a handful of tax cuts and a substantial increase…

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