Federal Debt Charges Cost Each Canadian $1,400 a Year, Taxpayer Group Says

Centre Block and the Peace Tower are seen past a metal fence along the lawn of Parliament Hill in Ottawa on Sept. 5, 2024. The Canadian Press/Justin Tang

Canadians are each effectively paying $1,400 this year to cover federal debt interest charges, a taxpayer advocacy group says, as it urges Ottawa to rein in spending.

The estimate, which refers specifically to public debt servicing costs rather than an actual bill Canadians pay directly, is based on a recent report from the Office of the Parliamentary Budget Officer.