Canada’s Household Debt Levels Continue to Rise
When Canada’s household debt numbers got revised to 163% earlier this fall, it was hard to believe that they could climb even higher. But, with Statistics Canada releasing their latest stats earlier this week, it’s evident that’s exactly what happened. And that now is the time for Canadians to get their debt under control. Something…
Read morePicture of Provincial Debt: Part 11, Newfoundland & Labrador
The picture of debt in Newfoundland and Labrador, like so many other provinces, is a conflicted one. Due to a steady decline in fishing and forestry industries in the early 2000s, Newfoundland & Labrador was often thought of as a “have-not” province. It never saw the huge influx of its populations as provinces out West,…
Read morePicture of Provincial Debt: Part 10, Prince Edward Island
At first glance, the picture of provincial debt in Prince Edward Island could indeed look grim. P.E.I. is the third most indebted province in all of Canada behind Ontario and Quebec, with a total net debt of $1.8 billion, that’s currently 34% of the province’s GDP. But aside from these alarming statistics, it might be…
Read moreThe Picture of Provincial Debt: Part 9, Nova Scotia
The picture of debt in Nova Scotia is a conflicting one for sure. Nova Scotia has one of the lowest debt loads in the country, both in total public debt, and debt per capita. And while the recession was certainly felt in this province, you can barely tell by looking at the total amount of…
Read moreThe Picture of Provincial Debt: Part 8, New Brunswick
You could call New Brunswick “the little province that could” when you look at their debt and overall economic picture. While unemployment rates in this province are typically higher than the average you’ll find across other Canadian provinces; and the average family income is the second-lowest in the country, you may think that New Brunswick…
Read moreThe Picture of Provincial Debt: Part 7, Quebec
Quebec is known as one of, if not the poorest province in Canada. Quebec’s total government gross debt is currently at $183.4 billion, which is about 54.6 per cent of their GDP. The net debt of the province, which subtracts the province’s assets that contribute to their total wealth, is $114,122 billion, which is 34 per…
Read moreA Picture of Provincial Debt: Part 6, Ontario
Out of all the provinces, Ontario and Quebec are always duking it out as the poorest province. Unfortunately though, Ontario is currently winning that race. Ontario is in pretty terrible shape when it comes to the amount of debt it owes, and there are a number of reasons for all the debt that it’s accrued….
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