I’m Jake Fuss, the Director of Fiscal Studies at the Fraser Institute.
As we approach the end of 2024, I wanted to share some critical research that the Fraser Institute has been focused on this year.
Our work is all about bringing clarity and transparency to Canada’s economic landscape – and our latest studies have uncovered some pressing concerns that every Canadian should be aware of!
For instance, while the federal government often highlights that Canada’s debt is the lowest in the G7, the reality is quite different when you look at the full picture.
Our research shows that Canada actually ranks 26th out of 32 developed countries when total debt, rather than just net debt, is considered.
Net debt is a flawed measure of Canada’s indebtedness because it assumes the country’s financial assets can be used to offset debt. But the country’s financial assets include the Canada Pension Plan and Quebec Pension Plan – assets that cannot be used to pay off government debt.
In reality, Canada’s total debt is among the highest in the industrialized world.

But the concern doesn’t stop there.
If the median Canadian family were to manage its finances like the federal government, they would already be $427,759 in debt and continue to borrow more each year.
Our analysis shows that if a typical family operated like the federal government, they would spend nearly $110,000 annually while earning just under $102,000, piling on an extra $8,161 in debt each year to cover the gap.
To put this into perspective, nearly 11% of a family’s income would go solely towards paying interest on existing debt, without even starting to pay down the principal.
This is the kind of independent, data-driven research that we do at the Fraser Institute to ensure Canadians have a clear understanding of the economic challenges we face.
And we’re having an impact.
This year alone, millions of Canadians read our studies in the country’s biggest newspapers from coast-to-coast. Millions more visited our website and found our content on social media.
If you agree that giving Canadians the facts and numbers they need to hold their politicians accountable is important, please consider making a donation today.

Jake Fuss
Director, Fiscal Studies