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.
The report projects that interest costs will keep rising, increasing as a share of federal revenues over the next several years.
According to the report, interest burden on public debt is expected to remain broadly unchanged from Budget 2025 levels, but is still on an upward trajectory, with projected public debt charges rising from 10.6 percent to 13.2 percent of federal revenues between 2025–26 and 2030–31….