Income Gap Is Widest on Record in Canada as High Rates Pinch Borrowers

Income inequality in Canada has grown to the widest this century, as high interest rates add to the debt burdens of lower-earning households while boosting investment yields for higher-paid people.

In the second quarter, the top 40% of households had 65.2% of the disposable income, while the lowest-income groups had 18.2%. That gap of 47 percentage points was the largest since Statistics Canada began recording the data in 1999, the agency reported on Thursday.