As the government borrows more money, it drives up interest rates, making it more difficult and expensive for businesses to secure loans
Canada 's Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland hold the 2024-25 budget, on Parliament Hill in Ottawa, on April 16.Bradlee Whidden is a policy analyst for Western Canada at the Canadian Federation of Independent Business.
Nonetheless, even if all of Canada’s debt is growth-stimulating, which is highly doubtful, there is a limit to the amount the country can borrow. Bond markets impose these limits, demanding higher yields and returns as they perceive higher debt and frequent deficits as greater risks. Unsustainable debt and deficits also have an impact on investment and productivity. As the government borrows more money, it decreases the pool of available loans for businesses. This competition for funds drives up interest rates, making it more difficult and expensive for businesses to secure loans.
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