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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Crombie Steps Down: Ontario Liberals Head to Third Leadership Race in Five Years

 

In brief remarks after the results were announced, Ontario Liberal Leader Bonnie Crombie said it's "not the finish line" for her.


Ontario Liberal Leader Bonnie Crombie has announced she will resign after receiving only 57% support in a mandatory leadership review at the party’s annual general meeting. While the result was technically enough to keep her position under party rules, the narrow margin fell short of the two-thirds backing many members felt was necessary for a strong mandate.

Crombie, who took the helm in late 2023 after serving as Mississauga’s mayor, initially vowed to stay on, arguing that a leadership race now would harm the party. However, just hours later, she reversed course, saying the decision was “more important than ego” and that an orderly transition was in the party’s best interest.

Her resignation comes after a February election in which the Liberals increased their seat count from nine to 14, regaining official party status but failing to secure Official Opposition. Crombie herself did not win a seat in the legislature, a point of contention among some caucus members.

Premier Doug Ford thanked Crombie for her years of public service, while party insiders acknowledged the move clears the way for a fresh leadership contest — the Liberals’ third since 2020. Details on the race are expected in the coming weeks.


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