Ontario will spend an estimated $13 billion on government debt interest costs in 2020/21.
cost of government debt in canada
Ottawa can expect to run deficits every year from now until 2051, racking up at least $900 billion in new debt.
Canadian headlines about government deficits and debt can be dizzying and hard for people to grasp. A few billion here and several billion there and the natural response is for one’s eyes to glaze over in despair. But the increasing government debt has tangible and immediate consequences that affect Canadian families today and into the future.