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Canadian Insolvencies Hit a 16-Year High — What the New Data Means for You

  More than 37,000 Canadians filed for insolvency in just three months — the highest quarterly total since the 2009 financial crisis. New data paints a sobering picture of where household finances stand heading into summer 2026. Fresh data from the Office of the Superintendent of Bankruptcy (OSB) and a new Equifax Canada report released this week confirm what many Canadians have been feeling: the financial pressure is real, it is growing, and it is reaching households that once seemed insulated from serious debt trouble. 📊 Q1 2026 — Key Numbers at a Glance 37,121 Consumer insolvencies filed in Q1 2026 +8.5% Year-over-year increase 17/hr Canadians filing every single hour $2.66T Total Canadian consumer debt The Highest Volume Since the 2009 Financial Crisis The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) confirmed that Q1 2026's tally of 37,121 consumer insolvency filings is the largest quarterly figure since 2009 — the year North America was still re...
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Alberta Minister Peter Guthrie Resigns Amidst Procurement Concerns

 

In a surprising turn of events, Alberta Infrastructure Minister Peter Guthrie has resigned from his cabinet position, citing a lack of confidence in the government's procurement practices. Guthrie, who represents the United Conservative Party (UCP) as the MLA for Airdrie-Cochrane, announced his resignation on social media, expressing his concerns over inconsistencies in procurement processes across all government departments.

Guthrie's resignation comes amidst ongoing allegations of high-level interference and favoritism in multimillion-dollar health contracts within Alberta Health Services (AHS). He had previously pushed for the establishment of a Financial Oversight Committee to review major government contracts, a proposal that was not supported by the majority of the cabinet.

Premier Danielle Smith acknowledged Guthrie's resignation and reiterated the seriousness of the allegations surrounding AHS contracts. Smith emphasized that she was not involved in the procurement decisions and has directed senior civil service to retain an independent third party to investigate the matter.

Guthrie's departure has raised questions about internal divisions within the UCP government as it prepares to unveil its fiscal plan and key legislation. Despite his resignation, Guthrie intends to remain in the UCP caucus as a private member, where he plans to continue advocating for accountability and transparency in government practices.



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