CANADIANS IN TOO MUCH DEBT MAY PUT THE ECONOMY IN PERIL

Jun 27, 2017

By Michael Kramer

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The Macdonald-Laurier Institute says the country’s economy is vulnerable to downswings – on account of Canadians’ willingness to take on debt.

The institute’s Munk senior fellow – Phillip Cross – writes that all sectors of the economy – including households, governments and businesses – are taking on more debt.

Stats Canada recently reported that – household credit market debt as a proportion of household disposable income – slipped to 166.9 per cent in the first quarter – or about $1.67 of debt – for every dollar of disposable income.

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