Canadians Projected to Pay More Than $1,750 per Person on Government Debt in 2024

Canadians will shell out more than $1,750 per person on government debt interest this year, for a total of nearly $82 billion coast-to-coast, according to a newly released report. The $81.8 billion combined debt between the provinces and federal government comes at a time when interest rates have been on the upswing, according to a new study published by the Fraser Institute. “Should interest rates rise more in the future, the cost of borrowing would increase over time,” the report from the think-tank noted. “Under those circumstances, even more resources would need to be directed toward interest payments for governments with high debt levels.”...