From 2015/16 to 2022/23, the government added more than $820 billion in gross federal debt.
From 2015/16 to 2022/23, the government added more than $820 billion in gross federal debt.
In 2023/24, the province will spend roughly $1.1 billion on debt interest.
Canada’s population is expanding by more than one million per year while housing starts are stuck below 250,000.
Provincial and federal net debt has increased by $1.0 trillion from 2007/08 to 2023/24.
According to government projections, federal debt interest costs in 2023/24 will reach $46.5 billion.
From 2021/22 to 2023/24, federal debt interest costs increased from $24.5 billion to $46.5 billion.
In reality, Canada’s government debt is high relative to other comparable countries.
According to forecasts, Ottawa's annual debt interest costs will eclipse $50 billion by 2028.
Rising interest rates will put additional pressure on federal finances.