Provincial debt in Canada

Estimated net debt and debt per resident for all 13 provinces and territories in 2026 — a burden that gets costlier every time the Bank of Canada raises its rate. See the national debt clock too.

Quick answer

Ontario carries the largest provincial net debt in Canada in 2026 at about $408 billion, followed by Quebec and British Columbia. Every province's debt gets more expensive to service when the Bank of Canada raises its 2.25%% policy rate, since more of the budget goes to interest.

Ontario$408B Quebec$221B British Columbia$129B Alberta$82B Manitoba$31B Saskatchewan$20B Nova Scotia$18B Newfoundland and Labrador$16B New Brunswick$12B Prince Edward Island$3B Northwest Territories$2B Yukon$1B Nunavut$1B
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Independent & not affiliated. Debt figures are approximate, illustrative estimates — not official statistics and not financial advice. Verify with provincial public accounts and Statistics Canada. See our Terms and Privacy.
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