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Increasing levels of government debt work against Prime Minister Mark Carney’s goal of boosting economic growth through increased business investment.

Despite this, neither the federal government nor the provinces have any realistic plans to return to balanced budgets, while the debt burden on Canadian taxpayers grows every year.

This year, the federal government will pay a projected $58.7 billion in interest payments on the net federal debt alone of $1.4 trillion — more than the $57.4 billion it will transfer to the provinces for health care.

This will rise to $80.9 billion in interest payments........

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