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. When it comes to provincial government debt in Canada, Newfoundland and Labrador’s combined federal and provincial interest costs are the highest in the country at $3,432 per person. The next highest is Manitoba, with a combined interest debt costing its residents $2,868 each. Alberta's combined federal and provincial interest costs are the lowest in the country at $1,937 per person. "Interest payments across the country are substantial, and money that goes to creditors is money that is not available for other important priorities."