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Dear John,
Canadians in every province will pay more than $1,300 per person in 2022/23 on government interest costs!
That's the finding of a new study published by the Fraser Institute today. It finds that taxpayers across Canada will pay a total of $68.6 billion on interest payments for the federal and provincial debts in 2022.
Interest must be paid on government debt. The more money governments spend on interest payments, the less money is available for the programs and services that matter to Canadians.
The federal government alone will spend $34.7 billion on debt servicing charges in 2022/23 – that's more than they expect to spend on childcare benefits or employment insurance benefits!
Read the full study here, and be sure to share this one on social media.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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