What's the national debt situation in Canada?

[Anarcho-Socialist]

I've heard that the Canadian government has been getting tax surpluses. Is the government paying off the national debt, or mainly keeping it to a minimum?

[Canuckistanian]

1. Paying it off. Very slowly.

But by and large, we're not in a bad situation like the US. Our unemployment is higher but manageable.

[Spazito]

2. Yes, last year (2003-2004) 1.9 billion was put toward debt relief

I found this in an article:

Despite all the troubles in the economy last year, Goodale was able to scrape up about $1.9 billion in fiscal 2003-04, which officially ends March 31, for debt repayment, offering proof of his credentials as a good fiscal manager.

That would help reduce the debt to $508.7 billion in 2004-05.

Ottawa has already paid down roughly $52 billion to reduce its debt-to-GDP ratio to 42 per cent in fiscal 2003-04 from a peak of 68.4 per cent in 1995-96.

http://www.canada.com/national/features/budget_2004/story.html?id=f7b58ccc-2f34-4e45-987e-1f56dedf210e

[Maple]

3. We owe

about half of one year's GDP.

Best situation of all the OECD countries.

[Anarcho-Socialist]

4. Sounds like Martin is doing a good job in that respect n/t