Service Charges Paid on Government DebtServicing charges paid on government debt held mostly by private institutional interests of the global financial oligarchy varies with the governments involved and the type of security. Note: CGG stands for the consolidated Canadian general government (CGG), which combines the federal, provincial-territorial and local governments. PTLG stands for the consolidated provincial territorial and local governments (PTLG). In 2018, the CGG paid 7.4 cents in interest charges for every dollar of revenue received, down slightly from 7.5 cents in 2017. Interest expenses accrued on debt liabilities totalled $61.3 billion for the year. (Commonly called debt charges in government accounts.) Despite an increase of 56.1 per cent in total liabilities since the 2008 financial crisis, the ratio of 7.4 cents per dollar of revenue is significantly down from 10.1 cents per dollar of revenue in 2008 due to historically low interest rates on the outstanding debt to the financial oligarchy. The federal government paid 7.0 cents in interest for every dollar of revenue received in 2018, compared with 6.5 cents for PTLG. Quebec (9.9 cents), Manitoba (9.6 cents) and New Brunswick (7.1 cents) spent the most on interest per dollar of revenue in 2018. (Source: Statistics Canada)
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