Canada’s combined federal and provincial government debt almost doubled between 2007 and 2024, rising from $1.21 trillion to $2.3 trillion in inflation-adjusted dollars, according to a new report by the Fraser Institute.
The study, “The Growing Debt Burden for Canadians 2025 Edition,” by the fiscally conservative think tank warns this rapid accumulation of public debt has serious negative consequences for the Canadian economy, given that the money must be paid back, with interest, eventually.
