The Cost of Government Debt in Canada, 2017 finds that paying the interest on all government debt in Canada cost taxpayers $62.8 billion last year, which translates into $1,752 for every Canadian or slightly more than $7,000 for a family of four. In fact, interest payments on just the federal debt—$24.9 billion—is roughly the same as the federal government’s projected deficit this year—$25.1 billion.