As prices for just about everything skyrocket and an untold number of Canadians are going deeper into debt trying to keep up, the Fraser Institute’s latest study is a reminder that Canada and the provinces have been hurdling their own roads of indebtedness since the 2008 recession.
In its latest research bulletin on the growing debt burden for Canadians, the public policy organization found that the combined federal and provincial net debt, adjusted for inflation, has nearly doubled from $1.24 trillion in 2007-08 to a projected $2.44 trillion this fiscal year, a growth of 97.7 per cent.
