Canadians on hook for thousands in government debt costs: study

OTTAWA — Government debt will cost Ontarians $2,242 this year, according to a new Fraser Institute report.

This year’s edition of the institute’s Federal and Provincial Debt Interest Costs for Canadians report shows combined provincial and federal debt will cost Canadians between $1,937 and $3,432 depending on the province lived in.

“Governments across Canada continue to rack up large debts, which impose real costs on Canadians,” said study co-author Tegan Hill, who is also director of the institute’s Alberta policy studies.

“Interest payments across the country are substantial, and money that goes to creditors is money that is not available for other important priorities.”

Albertans will pay the lowest in 2025, at $1,937, while those from Newfoundland and Labrador will be on the h