A new study published by the Fraser Institute shows that residents in Newfoundland and Labrador have the highest combined federal-provincial interest payments in the country at $3,225 per person.

Servicing the provincial debt alone amounts to a cost of $2,004 per person in the province.

“Interest must be paid on government debt, and the more money governments spend on interest payments the less money is available for the programs and services that matter to Atlantic Canadians,” said Jake Fuss, director of fiscal studies at the Fraser Institute and author of Federal and Provincial Debt Interest Costs for Canadians.

Residents in the Maritime provinces are paying more than $1,800 per person.

The study finds that taxpayers across Canada will pay a total of $81.8 billion on interest payments for the federal and provincial debts this year alone.