Public Debt Jumped $2.3 Billion Overnight

Public debt charges jumped $2.3 billion overnight with the latest increase in the Bank of Canada prime interest rate. Debt costs are now the fastest growing line item in the federal budget. Budget Officer Yves Giroux in 2021 testimony laid out costs of a 1% point. Federal debt charges go up by $4.5 billion in the first year and they rise to $12.8 billion additionally by year five if that one-time shock is sustained throughout the period...” Here to parse through the info on this and other big stories in Ottawa is Tom Korski, Managing Editor of Blacklock's Reporter.

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