In this episode, Kim G C Moody describes the proposal to change the way Canadian federal budgets are reported. First proposed during the Liberal Party leadership campaign, Mr. Carney expressed his desire to “separate the capital budget from the operating budget”. This old accounting trick has a long history that Kim wrote about in a March 2025 Financial Post article. The obvious question is what is considered “capital” vs “operating” for purposes of classification since, obviously, the intention would be to shift expenditures to the capital column so as to reduce the overall “operating budget deficit”. On October 6, 2025, the Department of Finance released its proposed definition of “capital” and, as expected, it is expansive and broad. Overly broad. And the independent Parliamentary Budget Officer agrees; it released a statement about that on October 7, 2025. Kim discusses all of this and concludes by asking Canadians to not fall for this simple accounting trick and to be aware of this deceptive practice.

In this episode, Kim G C Moody discusses what Canadians can expect in the upcoming November 4, 2025 federal budget. He discusses the fact that the budget is unacceptably late, reviews the Liberal Party tax election promises, what tax measures “should” be in the budget (although they likely won’t be), the use of vacuous phrases like “spend less, invest more” and why it’s unacceptable and deceptive to “separate the capital budget from the operating budget."

Kim discusses the precarious fiscal position that Canada is in given the huge spending and out of control deficits and the fact that the Parliamentary Budget Officer made some very blunt comments about this recently. Happy listening!

In this episode of In the Mood With Kim G C Moody Podcast, Kim comments on the huge federal spending commitments recently made by PM Carney. When asked by a reporter about the Parliamentary Budget Officer’s concerns about fiscal sustainability and whether or not there would need to be increased taxes to pay for such amounts, Mr. Carney rolled his eyes and proceeded to give a non-answer. Kim comments on this and the ultimate inevitable introduction of new / increased taxes.