Canadian taxpayers will contribute more than $1,300 per person toward government interest payments for federal and provincial debts in the next year, for a total of $68.6 billion, according to a new study.
On Feb. 2, the Fraser Institute, a public policy think tank, calculated Canada’s combined federal and provincial interest costs per person for 2022–23. The federal government will spend $34.7 billion on debt servicing charges in 2022/23, which is 7.8 percent of total federal revenues.
