Sumary of 53% Of Canadians On Brink Of Insolvency:
- The news comes as Canada’s MNP consumer debt index hits a five-year high, and is a 10-point jump from a December survey, according to Bloomberg..
- said MNP president, Grant Bazian, in a Thursday report, which noted that government support programs which were meant to be temporary have alleviated the pain to some degree..
- However, there are others who have taken on more debt due to job loss, wage reductions or desperately trying to keep small businesses afloat..
- -Bloomberg “Those taking on more debt are becoming increasingly vulnerable to interest rate increases in the future….