Government debt is a massive problem in Canada

Rising debt burdens affect not only today’s taxpayers, but also future generations. Governments will likely raise taxes in the future to pay for today’s borrowing.

Finance Minister François-Philippe Champagne. Policymakers must develop long-term plans to stop debt accumulation in its tracks for the benefit of Canadians, writes Jake Fuss. The Hill Times photograph by Andrew Meade

Opinion

BY JAKE FUSS

June 8, 2026

Most Canadians don’t think about government debt, which is understandable—our personal debt (mortgages, credit cards, etc.) seems much more relevant to our lives. But government debt carries real costs for Canadians.

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