Interest payments on household debt consume 6 per cent of disposable income compared to almost 11 per cent in 1990.
federal government debt
Prime Minister Trudeau has raised taxes on skilled workers and entrepreneurs.
Prime Minister Justin Trudeau’s expected level of per person spending this fiscal year ($8,337) is just $38 less than the all-time high.
By 2019/20, Canada’s debt-to-GDP ratio is forecasted to be 31.5 per cent.
Under the Trudeau government, deficits continue with no end in sight, debt is growing and taxes have increased.
Since the Liberals’ first forecast in 2015, expected GDP for 2017 has dropped by $62 billion or $1,700 per Canadian.
The Trump administration is negotiating tax reform that could make the U.S. much more attractive for investment and skilled workers.