Welcome guest.  ( Sign in )

Canada's Debt map: How much governments have borrowed where you live.

May 6, 2016 - Updated: May 6, 2016

Debt for all 3 levels of government hits high of $47K per person in St. John's, low of $23K in Whitehorse.

 

It's coming to the end of budget season, that time of year when the federal and provincial governments tell us how much they're going to spend, and more often than not, borrow in our name.

The federal and most of the provincial budgets are in, with only Saskatchewan and Manitoba to come.

Most Canadians are familiar with the federal debt, the accumulation of the federal government's borrowing over time. That number, according to the most recent budget, will hit $648.7 billion by the end of the fiscal year. 

The share of the country's federal debt for each child, woman and man will be about $17,995. 

Debt figures, of course, should be considered in light of a country's assets, the size of its economy and ability to pay interest on its debt, and by that score Canada is in relatively good shape, even if the numbers seem alarming. 

Provinces also run deficits, and build up big debts in the process. Ontario has a debt of $296 billion, or about $21,470 per person. Quebec's debt is $187 billion, or about $22,641 per person.

And while Newfoundland and Labrador's debt total is much lower at $14.6 billion, when spread across its smaller population the per capita debt in that province is the highest in the country at $27,782.

Cities are not allowed to run deficits, but they can borrow to spend on infrastructure and other projects, and they do — Toronto has a debt of $3.5 billion, while Montreal's is $5.5 billion —  twice that of P.E.I.'s debt and about the same as Saskatchewan's $5.53 billion debt.

Depending on where you live, the total debt from all three levels of government, when added up and divided by the population, is as high as $47,439 per person (St. John's) or as low as $23,165 per person (Whitehorse).

The debt picture

A resident of St. John's doesn't actually owe the money racked up by the city, province and federal government that represents them, but by adding up all levels of debt a clearer picture emerges of just how much governments are borrowing in our name.

"The problem is that there is no incentive for any level of government to point out the debt at another level of government," said Aaron Wudrick, federal director of the Canadian Taxpayers' Federation. "They kind of want to minimize what it looks like, and that I think is the problem."

"When we talk about debt I think it's important we be clear about the total amount. At the end of the day there is only one taxpayer," he said.

Debt per capita per city graphic

Source: Municipal debt numbers provided by relevant city. Provincial debt numbers are as of the most recent budget or from the finance department of the relevant province. The federal debt number comes from the federal budget. All population figures used to calculate per capita debt levels are from Statistics Canada. (CBC News)

source; http://www.cbc.ca/beta/news/politics/national-debt-map-canada-1.3557745

 


Tagged with: government dept level
| | Share

Durham Region July 2018 Market Statistics

Originally posted on: August 17, 2018
Last updated on: August 17, 2018
Filed under: july market durham region
Transactions increase Year-Over-Year for July in Durham Region. Please feel free to share and if you would like more information please let us know.

Home prices set to rise.

Originally posted on: July 11, 2018
Last updated on: July 11, 2018
Filed under: sellers home prices
National home prices set to rise after slow start says Royal Le Page by Steve Randand11 Jul 2018 It’s no ...

Things to do this July 7 and 8th weekend in Durham

Originally posted on: July 5, 2018
Last updated on: July 5, 2018
Filed under: things to do durham festivals
6 ideas for Durham Region on July 7 and 8 WHATSON 04:00 AM Oshawa This Week UXBRIDGE -- Daniel ...

Good News for Home Buyers and Sellers

Originally posted on: June 14, 2018
Last updated on: June 14, 2018
Filed under: buyer homes seller
Good news for homeowners by Canadian Press14 Jun 2018 A report by Canada Mort ...

Tick Safety

Originally posted on: June 8, 2018
Last updated on: June 8, 2018
Filed under: tick safety ticks tick removal
We are sure you have heard about the tick infestations on the news lately. We thought we would post this for everyone to know how to prevent and ...
Sales Representative


Durham Bungalows
Brokerage
Independently owned and operated.

420 Green Street #105
Whitby, ON L1N 8R1


Phone: 1-289-274-2273
Powered by Lone Wolf Real Estate Technologies (CMS6)