"High levels of personal debt", true.     On what ?   vacations ? Huge TV's ?  Expensive cars?
......paying your hydro bill, re-outfitting your home to make it cheaper to run ? University education ?  basic living ?..............
....... as an ex finance co. manager, I have witnessed what happens, and where this is going. and, the prognosis is not good. Ontario and Alberta,  and now Canada  have irresponsible governments .
Please tell us, where is the heading ?