Canada’s combined federal-provincial debt will exceed $2 trillion in 2022/23; Ontario has the highest provincial debt as a share of economy
The Growing Debt Burden for Canadians: 2023 Edition
By Fraser Institute —— Bio and Archives--January 10, 2023
Canadian News, Opinion | Comments | Back To Full Article
TORONTO—Combined federal and provincial debt in Canada has nearly doubled from $1.1 trillion in 2007/08 (the year before the last recession) to a projected $2.1 trillion this year—with Ontario as the most indebted province relative to the size of its economy—finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Government debt—federally and in most provinces—has grown substantially over the past 13 years, creating serious fiscal challenges for Ottawa and provincial governments in the years ahead,” said Jake Fuss, associate director of fiscal studies at the Fraser Institute and co-author of The Growing Debt Burden for Canadians: 2023 Edition.
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