More competent, at what? It is a general impression that Carney government is more competent than Trudeau’s. But competent at what? According to a recent commentary, Carney government now separate government spending into two categories: “operating spending” and “capital investment”. The government achieves budget balance with “operating spending”. This creates a façade of fiscal responsibility. The “capital investment” however is the real deficit. This is a standard trick in creative accounting in corporate finance. Carney, being a competent banker, apply the same trick to government budget. The commentary can be found at https://www.fraserinstitute.org/commentary/pulling-back-curtain-carney-governments-first-budget | 
