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Each Canadian will pay a shocking amount this year to cover interest on nation's debt

The interest alone on the Government of Canada's debt will cost each Canadian thousands of dollars this year, according to a new study.Public policy think tank The Fraser Institute found that the combined debt interest payments for both the federal and provincial governments in Canada will cost $92.5 billion in 2024/2025. That's between $1,937 and $3,432 per Canadian, depending on the province.This comes as governments in Canada have trended towards deficit spending and growing government debt in recent years."Interest must be paid on government debt, and the more money governments spend on interest payments, the less money is available for the programs and services that matter to Canadians," said Jake Fuss, director of fiscal studies at the Fraser Institute and co-author of the study.According to the report, Ottawa will spend $53.8 billion on debt servicing charges in 2024/2025, which is significantly more than what the government expects to spend o...

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												66 m. ago											Weary Malawians look to this week’s presidential election as nation grapples with an economic crisis
												
													BLANTYRE, Malawi (AP) — Malawi is holding a presidential election this week as one of Africa’s poorer countries grapples with an economic crisis, food and fuel shortages — and memories of a vote six years ago that was canceled and a redo ordered because of widespread irregularities. Incumbent President Lazarus Chakwera, a former theology instructor […]												
												
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												4 h. ago											Haunted Halloween event to take over abandoned Target location in Toronto
												
													Toronto is about to get a brand-new Halloween attraction taking over an already chill-inducing venue: Cloverdale Mall's abandoned Target location.This fully immersive and nightmare-inducing playground, dubbed 13 Rooms, will let you step straight into over a dozen terrifying worlds, with no two rooms being quite the same. Rooms with themes like "Deadly Dolls," "Sinister Cinema," "Pumpkin Hollow," and more will offer a variety of frights for whatever kind of scare you're craving this fall. This attraction from the team behind the Screemers haunted house franchise is designed to be an immersive cinematic experience that will live perfectly on your social media feed, with spooky photo opportunities all around. And, like Screemers' other haunted house attractions, you'll want to pay very close attention to anything that may be lurking in the corners. Each space comes to life with dra...												
												
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												9 h. ago											Former Alberta naval museum renamed after first Canadian woman to reach rank of commodore
												
													The Commodore Lorraine Orthlieb Training Centre honours the woman who formed what would become Naval Museum of Alberta Society.												
												
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												11 h. ago											Woman dead in Saskatchewan after RCMP say shot was fired at SUV on highway
												
													WEYBURN — A woman in an SUV on a rural Saskatchewan highway is dead after police say the vehicle was hit by a gunshot, and authorities are warning residents in the area to be wary. RCMP say two women were in a Ford Explorer on Highway 39 around 8 p.m. Friday, driving near grain elevators […]												
												
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												11 h. ago											Une pétition contre l’interdiction du cellulaire à l’Assemblée nationale
												
													Des jeunes qui ont lancé une pétition contre l’interdiction de l’utilisation du cellulaire à l’école iront la déposer à l’Assemblée nationale sous peu												
												
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												14 h. ago											B.C. farm says it will ask Supreme Court of Canada to stop the cull of 400 ostriches
												
													VICTORIA — A spokesperson for Universal Ostrich Farms says the farm will ask the Supreme Court of Canada to stop the culling of 400 ostriches hit by avian flu, but it is not clear yet whether Canada’s highest court will hear the case. Katie Pasitney says the farm remains hopeful that it will get another […]												
												
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												14 h. ago											South Korea is going wild for ‘KPop Demon Hunters,’ made in the U.S. by a Korean Canadian director
												
													SEOUL – Cup noodles and shrimp chips featuring Huntr/x members are flying off the shelves. “Golden” is playing on loop at insurance offices and gyms. Dance studios are teaching moves from the animated film. The American-made Netflix movie “KPop Demon Hunters” has taken this nation – which put the K in K-pop – by storm. […]												
												
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												15 h. ago											RCMP feared traitor Kim Philby knew ’most interesting’ Canadian secrets: Documents
												
													OTTAWA — The early-1960s revelation that British spy Kim Philby had worked for Moscow alarmed Canadian intelligence officials who feared that he had betrayed confidences gleaned from Soviet defector Igor Gouzenko, once-secret archival records show. Harold Adrian Russell “Kim” Philby was recruited by Russian intelligence in the 1930s. He joined Britain’s Secret Intelligence Service, known […]												
												
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												17 h. ago											Concert review: Bryan Adams returns to Vancouver with Roll With the Punches tour
												
													Canadian rock star Bryan Adams brought new tour to Vancouver: Learn more												
												
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												17 h. ago											’There’s something strange in the pumpkin fields.’ Drought and heat frightening farmers
												
													FREDERICTON — The pumpkin patches on a number of Canadian farms are starting to look a bit frightening across the country, but not in a way that makes them ready for Halloween. “It’s sure been a spooky season,” said Greg MacKenzie, the owner of Mackenzie Produce in Stratford, P.E.I. He said his own farm has […]												
												
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												18 h. ago											Five Edmonton mayoral candidates square off in Friday night debate
												
													On a night where four candidates hammered away at the status quo, Andrew Knack took a risk by suggesting council needs to pay for things												
												
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												18 h. ago											‘Cries of this widow will echo around the world’: Charlie Kirk’s widow vows to carry on husband’s fight
												
													A heartbroken Erika Kirk spoke in a live address Friday, mourning the loss of "the perfect father" and husband												
												
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												19 h. ago											‘A spooky season’: Drought and heat reducing pumpkin yield in Canadian farms
												
													Drought and extreme heat are cutting into the size and supply of pumpkins that are usually carved into jack-o’-lanterns for Halloween or frozen and canned for food.												
												
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												20 h. ago											Lorne Gunter: Fate of programs like CSC true a barometer of Carney's budget
												
													I’m sure you’re all super impressed by the work being done in your communities by the legions of young volunteers working for the Canada Service Corps. What!? You say you’ve never heard of the Canada Service Corps (CSC)? Welcome to the club. Almost no Canadian has heard of it, even though the program has blown […]												
												
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												21 h. ago											Filmmaker, Israeli general on The Road Between Us playing at TIFF and its ‘universal message’
												
													‘Don't have a preconceived notion that the film is going to be political or whatever. Watch it, and then let's have a conversation about it,’ says Barry Avrich of his documentary												
												
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												22 h. ago											Conrad Black: Liberal intransigence threatens to pull Canada apart
												
													Separatists are leading the polls in Quebec while Carney continues to sideline Alberta's oil and gas industry, increasing western alienation												
												
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												22 h. ago											Colby Cosh: Shame on Saskatchewan for letting the ‘Queen of Canada’ spew literal sewage
												
													The Didulo cult piped human waste into public parks for weeks before authorities stepped in to stop it												
												
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												22 h. ago											Here’s what’s happening in currency markets and more: FP video
												
													Watch: Plus, how Ottawa's five nation-building projects could be a game changer for Canada's economy												
												
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												22 h. ago											NP View: Carney Liberals again side with Israel’s enemies, fail to protect Canadian Jews
												
													In 1939, Ottawa's policy towards the Jews was 'none is too many.' Now, it's one of sheer indifference												
												
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												22 h. ago											Raymond J. de Souza: Political violence in America is cause to weep
												
													There have been far too many assassinations, Charlie Kirk's being the latest												
												
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