Many Canadians within $200 of being unable to pay bills: poll

CALGARY -- A new poll suggests nearly half of Canadians surveyed last month are within $200 per month of being unable to pay for their bills and make their debt payments.

See Full Article

The Ipsos Reid survey also found about one-quarter of the 1,582 people who responded to the poll were already unable to cover their bills and debt payments.

The online poll was done between Jan. 27 and Jan. 29 for MNP Debt, which provides licensed trustee services in six provinces, from Quebec to British Columbia.

MNP says the poll found that 31 per cent of respondents said any increase in interest rates could move them towards bankruptcy.

Ipsos Reid conducted the poll about a week after the Parliamentary Budget Office issued a report on Jan. 19 that said Canada has seen the largest increase in household debt relative to income of any G7 country since 2000.

The survey also followed Bank of Canada's decision to keep a key lending rate at a historically low level of 0.5 per cent on Jan. 20, as the central bank lowered economic growth estimates for 2015 and 2016.

The polling industry's professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error as they are not a random sample and therefore are not necessarily representative of the whole population.



Advertisements

Latest Economic News

  • Trump staff, properties face terror risk due to presidency

    Economic CTV News
    DUBAI, United Arab Emirates -- Businesses around the world bearing U.S. President Donald Trump's name face an increased risk now that he is in the White House, security experts warn, especially as several are in areas previously targeted by violence. Source
  • Asian stocks mixed after Trump inauguration

    Economic CTV News
    BEIJING - Japanese stocks tumbled while Chinese markets gained Monday after Donald Trump took office as U.S. president and promised "American first" policies, adding to concerns about the threat of protectionism. KEEPING SCORE: The Shanghai Composite Index rose 0.9 per cent to 9,412.54 and Hong Kong's Hang Seng added 0.7 per cent to 23,051.68. Source
  • Beer at the barbershop? Relaxed B.C. liquor laws come into effect Monday

    Economic CTV News
    British Columbia small business owners and their clients say they’re excited about relaxed liquor regulations coming into effect on Monday. One of the biggest changes will allow any business to apply for a liquor licence. Source
  • Note 7 battery design and manufacturing caused fires: Samsung

    Economic CTV News
    SEOUL, Korea, Republic Of - Samsung Electronics Co. says problems with the design and manufacturing of batteries in its Galaxy Note 7 smartphones caused them to overheat and burst into fire. The announcement Monday of the company's investigation into one of its worst product fiascos comes three months after the flagship phone was discontinued. Source
  • Hackers claim to take down oil company website over soccer

    Economic CTV News
    LIBREVILLE, Gabon -- Hackers said they took out the website of French oil company Total on Sunday over its sponsorship of the ongoing African Cup of Nations soccer tournament in the central African country of Gabon. Source
  • Trump's victory creates uncertainty for wind and solar power

    Economic CTV News
    HONOLULU -- President Donald Trump has disputed climate change, pledged a revival of coal and disparaged wind power, and his nominee to head the Energy Department was once highly skeptical of the agency's value. What this means for states' efforts to promote renewable energy is an open question. Source
  • OPEC, allies says production cuts ahead of schedule

    Economic CTV News
    VIENNA -- OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia's energy minister said Sunday. Source
  • Non-browning apple coming to U.S. next month but Canada will have to wait

    Economic CBC News
    The genetically modified non-browning apples a B.C. man has been developing for more than two decades will finally show up on some U.S. produce shelves next month. But Canada will have to wait to take its bite. Source
  • Tax scams and testing 'the Trump effect': CBC Marketplace's consumer cheat sheet

    Economic CBC News
    Miss something this week? We got you. Here's this week's Marketplace cheat sheet. Get this in your inbox every Friday. Sign up for the Marketplace newsletter. Poor puppy Liza Shepherd holds up picture of Abby, the Bernese Mountain Dog cross that cost her $6,000 in vet bills. Source
  • How to fight back against rising bank fees on chequing accounts

    Economic CBC News
    Canada's big banks continue to enjoy big profits. But that hasn't stopped them from charging customers a host of personal banking fees. In fact, fees have become an ever more important part of their revenues. Source