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Dear John,
Since 2014, Canada’s total government debt — including federal, provincial and local governments — has exploded.
How did this happen?
From 2014 to 2024, total government spending in Canada increased from 38.4% of the economy to 44.7% — the second-largest increase in government spending among 40 advanced countries.
Federal and provincial governments in Canada borrowed money to fund this substantial spending increase.
As a result, during that same 10-year period, Canada’s total government debt increased from 85.5% of the Canadian economy to 110.8% — the third-largest increase among 40 advanced countries and the highest increase in the G7.
If governments across Canada want to stop adding to their debt burdens, they must better control their spending.
Check out the study here, and be sure to share it with your friends and colleagues.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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