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Canadian Consumer Debt Climbs this Year

2022/12/6
logo of podcast Fight Back with Libby Znaimer

Fight Back with Libby Znaimer

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Libby Znaimer is joined by Lisa Raitt, the former Deputy leader of the Conservative Party of Canada, John Milloy, Former Ontario Liberal MPP who served as a cabinet minister under the Dalton McGuinty and Kathleen Wynne governments and Cheri DiNovo, a former Ontario NDP MPP.

Today: our panel reacts to a new Mainstreet Research poll that reveals that the province's Bill 23 (also known as "Moe Homes Built Faster Act") is very unpopular including among many PC voters. The government has just started its mandate and has already been raising the eyebrows of many with this bill among others like Bill 7. Are they off to a good start? Meanwhile, executives from Canada's large grocery chains including Loblaw and Sobeys testified at the House of Commons agriculture committee and are arguing that they are not trying to profit off of inflation.

PARKS CANADA ARGUES THAT ONTARIO'S GREENBELT PLANS WILL CAUSE IRREVERSIBLE DAMAGE

Libby Znaimer is joined by Phil Pothen, Ontario Environment Program Manager at Environmental Defence.

Parks Canada is critical about Doug Ford's Greenbelt plans. They are arguing that the government's plan to remove almost 5,000 acres of the greenbelt land on the border of Toronto and Durham will cause irreversible damage to wildlife in the region. Phil explains.

CANADIAN CONSUMER DEBT IS UP 7.3 PER CENT FROM LAST YEAR

Libby Znaimer is joined by Stacy Yanchuk Oleksy, the Chief Executive Officer of Credit Counselling Canada.

According to Equifax Canada, consumer debt in this country reached $2.36 trillion in the third quarter which is a 7.3 per cent increase compared to last year. The debt is fueled by an increase in borrowers. So, just how serious is the situation and what can you do about managing your own debt? Stacy explains.

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