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Alberta

Canadians in three provinces will spend roughly the same on debt interest as K-12 education

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4 minute read

From the Fraser Institute

By Grady Munro and Jake Fuss

From 2008/09 to 2023/24, the federal government is projected to have run deficits every single year, with no interruptions. This has resulted in federal net debt (total debt minus financial assets) increasing by $603.6 billion (inflation-adjusted).

For more than a decade, Canadian governments have increasingly relied on borrowed money to fund their excessive spending habits. However, as debt has continued to pile up so have the costs associated with this debt—namely interest costs. A recent study shows that in some of the largest provinces, governments now spend nearly as much or more on debt interest costs than on K-12 education.

Since the 2008/09 financial crisis, governments across Canada have fallen into the habit of utilizing debt to fund their spending habits. For example, consider the federal government.

From 2008/09 to 2023/24, the federal government is projected to have run deficits every single year, with no interruptions. This has resulted in federal net debt (total debt minus financial assets) increasing by $603.6 billion (inflation-adjusted). Conversely, from 1996/97 to 2007/08, the federal government actually lowered its net debt by $348.1 billion (inflation-adjusted). Clearly, there’s been a shift in the government’s approach towards debt accumulation.

This is not simply a federal problem, as provinces have also seen their debt burdens rise as well. Cumulatively, provincial and federal net debt has increased by $1.0 trillion (inflation-adjusted) from 2007/08 to 2023/24.

Government debt carries costs, primarily in the form of the interest payments, which represent money that doesn’t go towards paying down the actual debt amount, nor does it go towards providing government services or tax relief. And since governments must utilize tax revenues to pay interest, taxpayers are ultimately on the hook for servicing government debt.

But how much do Canadians actually pay in debt interest costs?

Using data from the most recent fiscal updates, a new study compares combined (federal and provincial) debt interest costs for residents in three of the largest provinces (OntarioQuebec and Alberta) with what those provinces expect to spend on K-12 education in 2023/24. The study utilizes combined debt interest costs because Canadians are ultimately responsible for interest costs incurred by both the federal government and the province in which they live. The following chart summarizes the comparisons from the study.

As is clear from the chart, combined interest costs for residents in these provinces are nearly as much or more than their province expects to spend on K-12 education in 2023/24. Specifically, combined interest costs are $31.5 billion for Ontarians, which is only $3.2 billion less than the province will spend on K-12 education in 2023/24. Combined interest costs for Quebecers ($20.3 billion) will actually exceed the $19.9 billion the province will devote towards K-12 education. And combined interest costs for Albertans are only slightly lower than the $8.9 billion that will be spent on K-12 education.

In other words, taxpayers in Ontario, Quebec and Alberta are paying nearly as much or more to service federal and provincial government debt than they are paying to fund K-12 education in their province. This budget season, it’s important to remember the costs associated with growing government debt.

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Alberta

Snapshots of Alberta and Canadian trade with the US

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News release from the Alberta UCP

Alberta’s strong relationship with the U.S. is built on energy, trade, and jobs. These numbers highlight just how vital Alberta is to the U.S. economy—and why standing up for our energy sector matters now more than ever.
Alberta’s unmatched energy contributions supply over half of U.S. imported oil through a vast pipeline network—enough to circle the Earth 11 times. This is why protecting Alberta’s energy industry matters for North America’s prosperity.
Alberta’s energy exports fuel U.S. refineries across key states, creating over 25,000 jobs and turning billions of dollars’ worth of Alberta oil into essential products Americans rely on every day.
This snapshot of top U.S. exports to Canada highlights how vital our trade relationship is, with Alberta playing a key role as a major partner and market for American goods.
Energy leads U.S. imports from Canada, with Alberta’s resources powering industries across America and reinforcing our critical economic partnership.
This chart highlights how much Canadians buy from the U.S. compared to what Americans buy from Canada, with Canadians spending over seven times more per person on U.S. goods. Meanwhile, 904,000 American jobs depend on trade with Alberta, making our province a key economic partner.
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Community

New Documentary “Cooking with Hot Stones” Explores History of Fort Assiniboine, Alberta

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February 14, 2025 – Alberta, Canada – A compelling new documentary, Cooking with Hot Stones: 200th Anniversary of Fort Assiniboine, is set to air on Wild TV, RFD TV Canada, Cowboy Channel Canada, and you can click here to stream for FREE on Wild TV’s streaming service, Wild TV+. This engaging one-hour feature will take viewers on a journey through time, exploring Fort Assiniboine’s rich history from 1823 to 2023.

Fort Assiniboine is a significant landmark in Alberta, playing a crucial role in Indigenous history, the fur trade, and the western expansion of Canada. This documentary captures the spirit of the region, illustrating how it has evolved over two centuries and how it continues to shape the cultural fabric of the province today.

Wild TV will make the documentary free to stream on Wild TV+ (insert link here once push it over to app) on February 14th so that it can be easily accessed in classrooms and other educational settings throughout the region, ensuring the historical significance of Fort Assiniboine reaches a wider audience.

Produced by Western Directives Inc., Cooking with Hot Stones: 200th Anniversary of Fort Assiniboine brings historical moments to life with vivid storytelling, expert interviews, and breathtaking cinematography.

“We are very excited to partner with Wild TV as part of our one hour documentary production. Based in Alberta, we respect the hard work and quality programming that Wild TV brings to a national audience. With the broadcast opportunity, Wild TV gives our production the ability to entertain and educate Canadians across the country on multiple platforms,” said Tim McKort, Producer at Western Directives.

Scott Stirling, Vice President of Wild TV, also expressed enthusiasm for the project: “At Wild TV, we are passionate about telling Canadian stories that resonate with our audiences. This documentary not only highlights a crucial piece of our nation’s history but also celebrates the resilience and contributions of Indigenous peoples, traders, and settlers who shaped the land we call home today. We are proud to bring Cooking with Hot Stones: 200th Anniversary of Fort Assiniboine to our viewers across Canada.”

Airtimes for Wild TV can be found here.

For airtimes on RFD TV Canada, click here.

For airtimes on Cowboy Channel Canada, visit CCC’s schedule.

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