Mayoral candidate Ray McGuire would more than triple the current funding to oversee mandatory treatment of dangerously mentally ill people if he was elected to lead City Hall.

“We need to balance civil liberties with the potential loss of life,” McGuire told The Post about his plans to expand the use of Kendra’s Law, which permits court-ordered psychiatric care for mentally ill patients who have a history of violence.

The act passed over 20 years ago following the death of aspiring screenwriter Kendra Webdale at the hands of a schizophrenic man who pushed her in front of a moving train in a Manhattan subway station.

Campaign rival Eric Adams also supports the expansion of Kendra’s Law, but has not presented specifics about increasing city spending to manage it.

Mayor Bill de Blasio’s current, $240 million ThriveNYC budget for the coming fiscal year has just $1.3 million to facilitate assisted outpatient treatment, which includes compulsory medication, therapy and supervised living facilities.

ThriveNYC, which was recently rebranded as the Office of Community Mental Health following criticism that the program run by the mayor’s wife Chirlane McCray is ineffective, notes on its website that staff were able to help coordinate care for just 1,797 patients when they needed to reach 2,476.

McGuire said he would boost the funding from $1.3 million to at least $ 5 million a year to address the rise in violent incidents perpetrated by mentally ill homeless in the subways and above ground.

The former Citigroup executive cited a study that found people who received assisted outpatient treatment were two times less likely to be arrested and eight times less likely to be arrested for a violent offense compared to before treatment.

Councilwoman Farah Louis, chair of the committee on mental health, said at a recent budget hearing that de Blasio hasn’t done enough to help mentally ill New Yorkers given the heaps of money he’s thrown that problem.

“Millions of dollars were added by the administration in the last five years yet New Yorkers are still struggling to locate the mental health support services that they need for themselves or their loved ones,” the Brooklyn Democrat said at the May 19 hearing.

“We do not see results on the ground level from the large fiscal investments that have been made to combat the racial disparities in mental health care,” Louis added.

McGuire said he’d look at the $250 million annual budget for mental health services and see where he could trim administrative costs and shift resources to areas like mandatory treatment.

His mental health plan also includes increasing the number of psychiatric beds in the city and expanding mobile mental health teams who perform routine checkups on homeless mentally ill New Yorkers.