Late Payment Of Commercial Debt Act

When Statistics Canada released some income numbers from the 2006 Census, many people in the middle class nodded their heads in recognition of something they already knew.

“Median earnings of Canadians employed on a full-time basis for a full year changed little during the past quarter century,” said the government agency, “edging up from $41,348 in 1980 to $41,401 in 2005 (in 2005 constant dollars).”

A strategy used by many to overcome their stagnant incomes has been to borrow to maintain their standard of living.