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Canadian Government Debt 2014


Canadian Government Debt 2014

With Canadian governments having returned to deficit-financed spending, the growth in direct government debt has re-emerged as a serious public policy issue in Canada. The net direct debt of all three levels of government increased from $872.2 billion to $1.2 trillion between 2007/08 and 2011/12. Apart from direct debt, government indebtedness also includes debt guarantees, contingent liabilities and contractual commitments, and unfunded program obligations. When liabilities other than direct debt are included, the total liability of Canadian governments (federal, provincial, and local) increases dramatically—to $4.1 trillion in 2011/12, up 20.9 percent from 2007/08. That $4.1 trillion translates into $117,948 for every Canadian citizen, $243,476 for each income taxpayer, or 230.2 percent of GDP.

By Fraser Institute, Canada,

Health Policy Resource.