Canadians’ household debt climbs to highest in G7 in world-beating borrowing spree

Based on an article from the Financial Post, Canadian households could soon be carrying the heaviest debt-to-income loads among its country peers, reaching 174 per cent later this year, according to a new report by
the country’s budget watchdog.

The Parliamentary Budget Officer said Tuesday that Canadian households are now more indebted than those in any other Group of Seven nation, having piled up the biggest increase in debt-to-income since 2000.

In fact, since the third quarter of 2015, household debt in this country reached 171 per cent of disposable income.