Canada: Debt Free by 2021

The Tories in Canada recently announced that they wanted the country (ie the government finances) to be debt free by 2021. This isn’t quite what it might seem:

It turns out that the measure of debt they’re talking about is "net
debt", which counts pension assets, but which doesn’t count pension
liabilities. I don’t know about you, but when a government starts
paying attention to a debt measure that ignores pension obligations, I
get nervous.

2 responses

  1. Don’t worry: you can be confident that MPs pensions will be secured.

  2. Oops: MPs’

Leave a Reply

Discover more from Tim Worstall

Subscribe now to keep reading and get access to the full archive.

Continue reading