Carney and Poilievre both want to stop wasteful spending. But what would they cut? [Video]

It is an exciting debate for accountants.

Mark Carney, the presumptive favourite in the Liberal leadership race, says a government led by him would introduce a new budget “framework” that would “separate” the federal government’s operating and capital budgets — drawing a distinction between spending that covers ongoing expenses for programs and services and spending that goes toward building and buying things like infrastructure, housing and military equipment. According to Carney, his government would aim to balance the operating budget within three years, while running a “small deficit” on capital spending.

Carney has likened this approach to the way homeowners pay their monthly bills while also investing to improve the value of their house. But expert opinion on Carney’s proposed framework is at least somewhat divided — Kevin Page, the former parliamentary budget officer, toldthe Globe and Mail that it could allow for easier scrutiny of government spending, while Trevor Tombe, an economist at the University of Calgary, has come to …