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Canada's debt load now highest of G7 countries

Video vocabulary

about

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US / ə'baʊt /

UK / əˈbaʊt /

A1
  • adverb
  • To be ready to; going to
  • Nearly; approximately; roughly
  • Near; next to; close to
  • In every direction; in the area of
  • preposition
  • Concerning or of (a topic)

even

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US / 'i:vn /

UK / ˈivən /

A1
  • adjecitve
  • Being equal in influence, power, possibility etc.
  • Being divided equally or fairly
  • (Of teams/contest) with similar chances of success
  • Smooth, level, or regular
  • Can be divided by 2; ending in 2, 4, 6, 8, or 0
  • At a regular, equally steady manner
  • Remaining steady and unchanging
  • adverb
  • (When this is surprising) as well; too
  • (Used to compare two things/stress the difference)
  • verb
  • To make something level; to flatten
  • To make something equal

people

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US / 'pi:pl /

UK / ˈpipəl /

A1
  • noun
  • Persons sharing culture, country, background, etc.
  • Men, Women, Children

that

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US / ðæt /

UK / ðæt, ðət /

A1
  • adjecitve
  • The person or thing being talked about
  • Used to identify something both the speakers know
  • adverb
  • Used to reinforce adjectives and adverbs
  • To such a degree
  • conjunction
  • Used to connect a noun clause
  • Used to introduce an adverbial clause
  • Used to introduce a noun clause
  • determiner
  • Used as a noun to refer to something
  • pronoun
  • Referring an object far away
  • Used to refer to the relative pronoun ‘which’

what

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US / wɒt /

UK / hwɑt, hwʌt, wɔt, wʌt,hwət, wət /

A1
  • pronoun
  • Thing or things that; the same kind as
  • Used to emphasize something you are about to say
  • adjecitve
  • Used to refer to a particular amount, or number
  • Used to place emphasis on a particular quality
  • adverb
  • To a certain degree
  • determiner
  • Question words used for asking for information
  • exclamation
  • Used to express excitement, shock, or surprise
  • Used to ask people to repeat something they said

behave

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US / bɪˈheɪv /

UK / bɪˈhev /

A2
  • verb
  • To act correctly
  • To act in a particular way
  • To react in a particular way in a given case

bottom

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US / 'bɒtəm /

UK / ˈbɑtəm /

A2
  • adjecitve
  • Concerning the part under something, e.g. a vase
  • noun
  • The part of your body you sit on
  • Lowest position, often in a company or contest
  • Lowest part of something; part on which it rests
  • Lowest level, part or point of an object
  • The part under something, e.g. a vase
  • verb
  • To hit the lowest part of something

monthly

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US / ˈmʌnθli /

UK / ˈmʌnθli /

A2
  • adverb
  • Occurring about once every 4 weeks

value

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US / 'vælju: /

UK / ˈvælju /

A1
  • noun
  • Importance you attach to something
  • Some information expressed as a number
  • Stated price of something; worth
  • verb
  • To place a high importance on something
  • To say how much money something is worth

borrower

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US / ˈbɒrəʊə(r) /

UK / ˈbɑːroʊər /

A2
  • noun
  • Person or company that borrows things

jeannie

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US / ˈdʒini /

UK / /

A1

type

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US / taɪp /

UK / taɪp /

A1
  • noun
  • Printed letters or blocks used for printing them
  • Group of things or people sharing common features
  • verb
  • To identify something belonging to a group
  • To write by touching keys on a keyboard

borrow

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US / ˈbɒrəʊ /

UK / ˈbɑ:roʊ /

A2
  • verb
  • To take and later return something from another
  • To carry one number to another column when adding

anything

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US / ˈeniθɪŋ /

UK / ˈɛniˌθɪŋ /

A1
  • pronoun
  • A thing of any kind

row

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US / rəʊ /

UK / roʊ /

A2
  • noun
  • Loud argument or quarrel between people
  • Straight line of things, e.g. seats in classroom
  • Loud, unpleasant, and undesirable noise
  • verb
  • To move a boat using oars
  • To argue or quarrel loudly about something

out

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US / aʊt /

UK / aʊt /

A1
  • adverb
  • No longer stylish (e.g. fashion)
  • Away from home, business, or the usual place
  • In a direction/movement away from inside or center
  • noun
  • Act when a batter cannot continue playing
  • verb
  • To tell people a secret

come

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US / kʌm /

UK / kʌm /

A1
  • verb
  • To arrive at a place
  • (Of mail) to be delivered
  • To move toward someone; go with someone
  • To reach a certain point or state

proportion

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US / prəˈpɔ:ʃn /

UK / prəˈpɔrʃən, -ˈpor- /

A2
  • noun
  • A part of a whole thing
  • State of balance between two or more things
  • Size of one thing compared to the size of another
  • verb
  • To balance the size of something with another

finance

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US / ˈfaɪnæns /

UK / fəˈnæns, faɪ-, ˈfaɪˌnæns /

A2
  • adjecitve
  • Concerned with money
  • noun
  • Control of money a person, business has access to
  • verb
  • To support someone or something financially

only

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US / ˈəunli /

UK / ˈonli /

A1
  • adverb
  • Just one; just that amount or thing; not more than
  • Not very important or serious
  • Just that type of thing, person
  • Short time ago; not before a certain time
  • conjunction
  • Except; but

most

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US / məʊst /

UK / most /

A1
  • adverb
  • Very; extremely
  • Greatest possible degree
  • pronoun
  • Nearly all of something

mostly

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US / ˈməʊstli /

UK / ˈmoʊstli /

A2
  • adverb
  • In large part; mainly or chiefly

couple

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US / 'kʌpl /

UK / ˈkʌpəl /

A2
  • noun
  • Two people in a romantic relationship
  • Two of something; two people; a pair
  • verb
  • To join something to something else
  • (Two animals) to engage in sexual relations
  • To put two people or things together

and

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US / ənd /

UK / ənd, ən,ænd /

A1
  • conjunction
  • Used to refer to two or more things
  • Plus; in addition; on top of that
  • Used to introduce an action that follows another

back

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US / bæk /

UK / bæk /

A1
  • adjecitve
  • Farthest from the front e.g. in a classroom
  • adverb
  • Have returned to a place you were before
  • noun
  • The part of a chair that the upper body leans upon
  • Location at the rear of something
  • The reverse of side something
  • Area on the rear of your body
  • verb
  • To bet money on something
  • To go backwards in a car
  • To support and encourage someone or some cause

hike

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US / haɪk /

UK / haɪk /

B1
  • noun
  • Large and unexpected increase in price, level etc.
  • A long walk in mountains, etc. for exercise
  • Long walk, often in a rural area, for exercise
  • verb
  • To make a large and unexpected increase in a price
  • To take a long walk in mountains etc. for exercise

lot

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US / lɒt /

UK / lɑt /

A1
  • noun
  • What happens to a person in life from chance; fate
  • A group of people seen together
  • Item for sale at an auction
  • Small area of land used for a purpose e.g. parking

money

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US / 'mʌnɪ /

UK / ˈmʌni /

A1
  • noun
  • Coins or notes we use to pay for things

owe

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US / əʊ /

UK / o /

A2
  • verb
  • To need to do something in return for a favor etc.
  • To credit someone or thing for making it possible
  • To have a commitment to pay someone for something

for

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US / fə(r) /

UK / fɔr,fə /

A1
  • preposition
  • Used to show the purpose, or need of something

eight

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US / eɪt /

UK / et /

A1
  • number
  • 8

those

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US / ðəʊz /

UK / ðoz /

A1
  • determiner
  • The people or things we are talking about
  • pronoun
  • The objects far from the speaker

just

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US / dʒʌst /

UK / dʒʌst /

A1
  • adjecitve
  • Proper or appropriate; as is deserved
  • Doing or being what is right or fair
  • Legally correct; having enough evidence
  • adverb
  • Almost; nearly
  • Exactly at the time of
  • Exactly (the same as, like)

line

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US / laɪn /

UK / laɪn /

A1
  • noun
  • Border that divides two places or regions
  • Long crease in the skin, often from age
  • Mark that is long, straight and very thin
  • Row of words, letters or numbers that are written
  • Telephone connection
  • People waiting one behind the other; queue
  • Long thin wire, e.g. for electrical signal
  • verb
  • To put material along the inside of something

nation

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US / 'neɪʃn /

UK / ˈneʃən /

A1
  • noun
  • Area or region controlled by a government and army

home

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US / həʊm /

UK / hom /

A1
  • adjecitve
  • A sports team's own field or place of play
  • adverb
  • Into the correct or intended position
  • noun
  • House, apartment or building to be rented or sold
  • Institution for sick or elderly people
  • Place where a person or a family lives
  • Country where a person lives or was born
  • Region that is native to peoples, plant or animals
  • verb
  • To move towards a particular target location

report

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US / rɪ'pɔ:t /

UK / rɪˈpɔrt, ˈport /

A1
  • noun
  • Account of the necessary facts and information
  • The telling of news in the media
  • Official statement about something
  • verb
  • To submit a report or bill to the government
  • To write in a newspaper or speak on a news program
  • To state something officially
  • To officially present yourself to an authority
  • To describe something by telling it to others

amount

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US / ə'maʊnt /

UK / əˈmaʊnt /

A1
  • noun
  • Quantity of something
  • verb
  • To add up to a certain figure

hannah

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US / ˈhænə /

UK / ˈhænə /

A1

fact

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US / fækt /

UK / fækt /

A1
  • noun
  • Something that is known or proved to be true

much

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US / mʌtʃ /

UK / mʌtʃ /

A1
  • adjecitve
  • Very; to a high level or degree
  • adverb
  • A lot; large amount; a high degree of
  • Nearly; basically
  • On many occasions; often
  • noun
  • A large amount; a great quantity

extend

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US / ɪkˈstend /

UK / ɪkˈstɛnd /

A2
  • verb
  • To offer something (help, friendship) to someone
  • To reach from one point to another
  • To straighten or stretch something out, e.g. leg
  • To make something last longer

mortgage

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US / 'mɔ:ɡɪdʒ /

UK / ˈmɔrɡɪdʒ /

B1
  • noun
  • Long-term loan from a bank for buying property

since

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US / sɪns /

UK / sɪns /

A1
  • adverb
  • At a point before the present time
  • conjunction
  • For this reason; because
  • preposition
  • From the time in the past that

well

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US / wel /

UK / wɛl /

A1
  • adjecitve
  • Being in a fortunate, good condition or state
  • Healthy and in good condition
  • adverb
  • In an acceptable, proper, or successful manner
  • In a complete, total, or full manner
  • A great and considerable degree
  • In a successful way, in a good or satisfactory way
  • exclamation
  • Used to begin or continue a particular statement
  • Used to show you want to start saying something
  • Used to express that you are waiting for a reply
  • You say this to change the topic of a conversation
  • Used to indicate you are making a final remark
  • noun
  • Long deep hole in the ground to get water
  • verb
  • To cause your eyes to fill with tears

within

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US / wɪˈðɪn /

UK / wɪðˈɪn, wɪθ- /

A1
  • adverb
  • Inside the limits of an area, time or range
  • preposition
  • From the inside of something

ownership

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US / ˈəʊnəʃɪp /

UK / ˈoʊnərʃɪp /

A2
  • noun
  • State of having a legal right to possess something

australia

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US / ɒˈstreɪliə /

UK / ɔːˈstreɪliə /

A1
  • noun
  • The smallest continent; between the South Pacific and the Indian Ocean

authority

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US / ɔ:ˈθɒrəti /

UK / əˈθɔrɪti, əˈθɑr-, ɔˈθɔr-, ɔˈθɑr- /

A2
  • noun
  • The power to give orders to people
  • Person who is an expert on a particular topic
  • Expert knowledge on a given subject
  • The power to decide or approve things
  • a group of people who have the official power to make decisions

should

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US / ʃʊd /

UK / ʃʊd /

A1
  • other
  • Used to indicate what is proper or reasonable

secondary

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US / ˈsekəndri /

UK / ˈsekənderi /

A1
  • adjecitve
  • Being of less importance than something else

lee

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US / li: /

UK / li /

A1
  • noun
  • The side of something that is sheltered from the wind

plus

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US / plʌs /

UK / plʌs /

A2
  • noun
  • A benefit or advantage
  • preposition
  • In addition; add
  • In addition to; Indicates a number above
  • Having a value greater than zero

economy

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US / ɪ'kɒnəmɪ /

UK / ɪˈkɑnəmi /

A1
  • noun
  • Using money, resources in a careful, effective way
  • Total of all goods, services and wages in an area

distinction

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US / dɪˈstɪŋkʃn /

UK / dɪˈstɪŋkʃən /

A2
  • noun
  • Special quality that makes something different
  • A prize of award for a high level of achievement

debt

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US / det /

UK / dɛt /

A2
  • noun
  • Sum of money owed to someone that is not yet paid

actually

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US / ˈæktʃuəli /

UK / ˈæktʃuəli /

A1
  • adverb
  • Used to add new (often different) information

domestic

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US / dəˈmestɪk /

UK / dəˈmɛstɪk /

A2
  • adjecitve
  • British informal fight between husband and wife
  • Concerning your own home or house
  • Concerning or made in your own country
  • noun
  • Someone paid to help with housework in your house

afford

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US / ə'fɔ:d /

UK / əˈfɔrd, əˈford /

A2
  • verb
  • To make available, to provide
  • To have enough money to pay for something

combine

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US / kəmˈbaɪn /

UK / kəmˈbaɪn /

A2
  • verb
  • To mix several things together to form one thing

develop

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US / dɪ'veləp /

UK / dɪˈvɛləp /

A1
  • verb
  • To explain something in steps and in detail
  • To create or think of something
  • To grow bigger, more complex, or more advanced
  • To make a photograph from film

here

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US / hɪə(r) /

UK / hɪr /

A1
  • adverb
  • In this place; at this location, position or time

housing

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US / ˈhaʊzɪŋ /

UK / ˈhaʊzɪŋ /

A2
  • noun
  • Homes; houses in general
  • Cover for a machine
  • verb
  • To give someone a place to live
  • To contain or store something

gross

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US / ɡrəʊs /

UK / ɡros /

B1
  • adjecitve
  • Nasty; ill-mannered; unappealing
  • noun
  • 144 of something; twelve dozen of something
  • Total sum of money earned before costs and taxes
  • Total weight of something including packaging
  • verb
  • To earn an amount of money before costs and taxes

after

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US / 'ɑ:ftə(r) /

UK / ˈæftɚ /

A1
  • adverb
  • Later than another time, or behind something
  • conjunction
  • Following something before
  • preposition
  • When an event happened or time has passed

already

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US / ɔ:lˈredi /

UK / ɔlˈrɛdi /

A1
  • adverb
  • Having happened or been done before this time

warn

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US / wɔ:n /

UK / wɔrn /

A2
  • verb
  • To tell someone about possible danger

they

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US / ðeɪ /

UK / ðe /

A1
  • pronoun
  • Two or more people, animals, or things

very

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US / 'verɪ /

UK / ˈvɛri /

A1
  • adjecitve
  • Concerning a large degree or amount
  • adverb
  • A lot; much; many
  • Used to stress or emphasize a noun

all

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US / ɔ:l /

UK / ɔl /

A1
  • adverb
  • Completely; totally
  • determiner
  • Being every one of something
  • pronoun
  • 100% of something; the complete amount

juggle

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US / ˈdʒʌgl /

UK / ˈdʒʌɡəl /

B2
  • verb
  • To entertain by throwing and catching balls, etc.

super

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US / ˈsu:pə(r) /

UK / ˈsupɚ /

A2
  • adjecitve
  • Of the highest quality; great; marvelous

top

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US / tɒp /

UK / tɑp /

A1
  • adjecitve
  • Being good or great; excellent
  • Being the most in degree or quality
  • noun
  • Item of clothing covering shoulders to waist, hips
  • A cover or lid
  • Part (e.g. road) that is the furthest away
  • Highest or upper part or point of something
  • Best or highest status or position
  • Flat upper surface or edge of an object
  • Child's toy that spins on its point
  • Upper section or leaves of fruits and vegetables
  • Winning in a sport or contest
  • verb
  • To be higher or larger than a specific value
  • To arrive at the highest point of something
  • To put a cover or layer or over something
  • To kill; murder
  • To hold the highest position on a list
  • To be more important, successful or better than
  • To beat someone or win at a game

who

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US / hu: /

UK / hu /

A1
  • pronoun
  • Which person
  • Used to introduce information about people

add

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US / æd /

UK / æd /

A1
  • verb
  • To include as well
  • To put two things or numbers together, e.g. 2+2

bring

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US / brɪŋ /

UK / brɪŋ /

A1
  • verb
  • To take or go with someone to a place

encourage

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US / ɪn'kʌrɪdʒ /

UK / ɛnˈkɚrɪdʒ, -ˈkʌr- /

A2
  • verb
  • To increase the chance of something happening
  • To make someone more determined or confident

country

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US / ˈkʌntri /

UK / ˈkʌntri /

A1
  • noun
  • An area of land that is controlled by a government
  • Open land that is away from towns and cities

look

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US / lʊk /

UK / lʊk /

A1
  • noun
  • Person's beauty or physical attractiveness
  • Particular style of dress, clothes, or appearance
  • The way someone, something appears to be
  • Act of searching for or examining something
  • verb
  • To appear to be; seem

pay

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US / peɪ /

UK / pe /

A1
  • noun
  • Money you receive from your job, work, etc.
  • verb
  • To give money for goods or work done
  • To give (attention, respect, etc.) to
  • To be punished or suffer for something you did
  • To make (a visit) to a person or place

ago

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US / əˈgəʊ /

UK / əˈgoʊ /

A1
  • adverb
  • At a specified length of time in the past

their

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US / ðɛː /

UK / ðer /

A1
  • determiner
  • Belonging to them

pretty

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US / 'prɪtɪ /

UK / ˈprɪti /

A1
  • adjecitve
  • Being attractive to the eye in a simple way
  • adverb
  • Very; to a great degree

badly

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US / ˈbædli /

UK / ˈbædli /

A1
  • adverb
  • Not in a good way; not as wanted or liked
  • To a severe degree; very much
  • In an unkind or unfavorable manner

big

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US / bɪɡ /

UK / bɪɡ /

A1
  • adjecitve
  • Popular
  • Serious
  • Large

let

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US / let /

UK / lɛt /

A1
  • verb
  • To allow someone to do something
  • Introducing a suggestion to do something together
  • To rent a house, etc. to others

investment

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US / ɪnˈvestmənt /

UK / ɪnˈvɛstmənt /

A2
  • noun
  • Something purchased hoping its value will increase
  • Act of giving time, energy to see a future reward

rate

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US / reɪt /

UK / ret /

A1
  • noun
  • Current price or cost of something
  • Speed or frequency of events over time
  • verb
  • To assess something or consider its qualities

stretch

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US / stretʃ /

UK / strɛtʃ /

A2
  • noun
  • Making arm, leg muscles longer to ease them
  • A consecutive row of things
  • A period of time
  • verb
  • To make your arm, leg muscles long to ease them
  • To make something bigger by pulling on it

the

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US / ðə /

UK / ðə /

A1
  • article
  • Used to refer to something already mentioned
  • Used to show there is only one of something
  • determiner
  • Used to describe all of a family

bank

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US / bæŋk /

UK / bæŋk /

A1
  • noun
  • A financial institution that keeps or lends money
  • The side of a river
  • A row of things in lines (e.g. computers)
  • verb
  • To put or keep your money in a bank
  • To turn a plane when flying; (of a plane) to turn

make

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US / meɪk /

UK / mek /

A1
  • noun
  • Product made by a particular company; brand
  • verb
  • To arrange or prepare something e.g. dinner
  • To get to (a place) on time
  • To gain the status of (teacher, lawyer, etc.)
  • To create something by putting things together
  • To earn a certain amount of money at a job
  • To cause or force a person to do something
  • To cause something to happen or be formed

entire

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US / ɪn'taɪə(r) /

UK / ɛnˈtaɪr /

A2
  • adjecitve
  • Complete or full; with no part left out; whole

other

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US / 'ʌðə(r) /

UK / ˈʌðər /

A1
  • adjecitve
  • A thing different from that mentioned
  • determiner
  • (Something) else; not the first (one)
  • pronoun
  • Being the one and only thing of that category

than

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US / ðən /

UK / ðən /

A1
  • conjunction
  • Used to compare two things that are not equal

able

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US / 'eɪbl /

UK / ˈebəl /

A2
  • adjecitve
  • Skilled; good at something
  • Having the ability to do something

term

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US / tɜ:m /

UK / tɚm /

A1
  • noun
  • Conditions applying to an agreement, contract
  • Length of time something is expected to happen
  • Fixed period of weeks for learning at school
  • The (precise) name given to something
  • verb
  • To call; give a name to

also

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US / 'ɔ:lsəʊ /

UK / ˈɔlso /

A1
  • adverb
  • In addition; too; in a similar way

five

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US / faɪv /

UK / faɪv /

A1
  • number
  • 5

live

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US / lɪv /

UK / liv /

A1
  • adjecitve
  • Being broadcast as events happen, not recorded
  • Carrying electric current; able to give a shock
  • Glowing because burning; hot
  • Not yet killed (for food)
  • adverb
  • (Music, drama) as it is performed
  • verb
  • To be alive
  • To experience a particular type of life
  • To make your home in a house or town

how

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US / haʊ /

UK / haʊ /

A1
  • adjecitve
  • To what degree? in what amount?
  • adverb
  • (Used to explain the way to do something)
  • exclamation
  • For what purpose or reason?
  • (Used to ask someone or something's condition)

payment

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US / ˈpeɪmənt /

UK / ˈpemənt /

A2
  • noun
  • Amount of money that is paid for something

simply

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US / ˈsɪmpli /

UK / ˈsɪmpli /

A1
  • adverb
  • In an easy or clear manner

year

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US / jə: /

UK / jɪr /

A1
  • noun
  • Unit of time equal to 12 months or 365 or 366 days
  • Used to refer to the age of a person

you

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US / jʊ /

UK / ju /

A1
  • pronoun
  • Person someone is speaking or writing to
  • Person or people in general

expose

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US / ɪk'spəʊz /

UK / ɪkˈspoʊz /

A2
  • noun
  • News article revealing secret information
  • verb
  • To make visible, without covering or protection
  • To allow light through a cameras lens onto film
  • To be talked about in the media
  • To make a secret known to the public
  • To experience something, often a harmful thing

this

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US / ðɪs /

UK / ðɪs /

A1
  • adjecitve
  • Used to indicate something already been discussed
  • Used to indicate something happening around now
  • adverb
  • An indication by a physical motion or gesture
  • A specific amount of
  • determiner
  • Person, thing, or idea near you
  • pronoun
  • Person, thing that has already been discussed

price

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US / praɪs /

UK / praɪs /

A1
  • noun
  • Person's name
  • Cost of something in money
  • verb
  • To determine or set the cost of something

state

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US / steɪt /

UK / stet /

A1
  • adjecitve
  • Concerning region within a country
  • noun
  • Region within a country, with its own government
  • Situation or condition something is in
  • verb
  • To say; declare as fact

but

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US / bət /

UK / bʌt,bət /

A1
  • conjunction
  • Used before you say something different, opposite

cut

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US / kʌt /

UK / kʌt /

A1
  • noun
  • Act/instance of reducing the size or amount of
  • Small opening made using a sharp object, knife
  • A wound on someone's skin caused by a sharp object
  • verb
  • To reduce the size or amount of something
  • To use knife or scissors to divide, open surfaces

especially

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US / ɪˈspeʃəli /

UK / ɛˈspɛʃəli, ɪˈspɛʃ- /

A1
  • adverb
  • More than usual; extremely

can

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US / kæn /

UK / kən,kæn /

A1
  • noun
  • A metal container for storing food
  • other
  • Able to; have the skill to; have the time to
  • verb
  • To have permission to
  • To be possible to do
  • To preserve food by sealing it in a metal container

canadian

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US / kəˈneɪdiən /

UK / kəˈnediən /

A1
  • adjecitve
  • Concerning the culture and people of Canada
  • noun
  • Person from Canada

abnormally

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US / æb'nɔ:məlɪ /

UK / æb'nɔ:məlɪ /

B1
  • adverb
  • In an unusual way

now

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US / naʊ /

UK / naʊ /

A1
  • adverb
  • At the present time or moment
  • Right away or in the next possible moment
  • Used to refer to something that just happened
  • Time between the present and a moment in the past
  • conjunction
  • Resulting from or because of something

maybe

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US / ˈmeɪbi /

UK / ˈmebi /

A1
  • adverb
  • Possibly but not certainly; perhaps

not

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US / nɒt /

UK / nɑt /

A1
  • adverb
  • Word indicating the negative
  • (Used to form the negative of verbs)

our

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US / 'aʊə(r) /

UK / aʊr /

A1
  • determiner
  • Belonging to us

seventy

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US / ˈsevnti /

UK / ˈsɛvənti /

A1
  • number
  • 70

borrowing

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US / ˈbɔrəʊɪŋ, ˈbɔ:r- /

UK / ˈbɑroɪŋ, ˈbɔr- /

A2
  • verb
  • To take and later return something from another
  • To carry one number to another column when adding

seven

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US / ˈsevn /

UK / ˈsɛvən /

A1
  • number
  • Number 7

decade

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US / ˈdekeɪd /

UK / ˈdɛkˌed, dɛˈked /

B1
  • noun
  • Period of 10 years

interest

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US / 'ɪntrəst /

UK / ˈɪntrɪst, -tərɪst, -ˌtrɛst /

A1
  • noun
  • Best or most advantageous thing for someone
  • Activity or subject one enjoys doing or learning
  • Fee for borrowing money
  • verb
  • To make someone want to know about something
  • To persuade to do, become involved with something

ratio

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US / ˈreɪʃiəʊ /

UK / ˈreɪʃioʊ /

C2
  • noun
  • The relationship in relative size, etc.

canada

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US / 'kænədə /

UK / ˈkænədə /

A1
  • proper noun
  • A country in northern North America, the second largest country in the world; population 35,900,000

know

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US / nəʊ /

UK / noʊ /

A1
  • verb
  • To be familiar with a person or place, thing
  • To feel sure or be convinced about something
  • To discover or be aware of something
  • To be able to distinguish
  • To have knowledge of things

handle

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US / 'hændl /

UK / ˈhændl /

A2
  • noun
  • The part of a door you hold to open it
  • Thing you hold to carry or open a bag, pan etc.
  • verb
  • To cope with or take responsibility for
  • To control a machine, car etc.
  • To control or be controlled /used in a certain way
  • To deal with a particular situation/person; manage
  • To buy, sell, or move materials or goods
  • To hold, control, or use something with the hands
  • To touch objects with the hands to look at them

hundred

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US / 'hʌndrəd /

UK / ˈhʌndrɪd /

A1
  • number
  • 100

government

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US / ˈgʌvənmənt /

UK / ˈɡʌvənmənt /

A1
  • noun
  • Group of people and system that rule a nation

percent

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US / pə'sent /

UK / pɚˈsɛnt /

A2
  • adverb
  • One one-hundredth of a whole; the symbol %

before

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US / bɪˈfɔ:(r) /

UK / bɪˈfɔr,-ˈfor /

A1
  • adverb
  • At a time earlier than the present; previously
  • conjunction
  • In advance of something happening
  • preposition
  • In front of someone or something

have

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US / həv /

UK / hæv /

A1
  • verb
  • To drink, smoke, eat or use something
  • To experience the effects of something
  • To organize an event, or join in an activity
  • To own, possess, or hold something
  • To cause to happen or produce a particular effect

part

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US / pɑ:t /

UK / pɑ:rt /

A1
  • adjecitve
  • To some degree; half; not fully
  • noun
  • Division of a book
  • Ratio of something, e.g. 3 of gin, 1 of tonic
  • A line in a person's hair, made with a comb
  • Character an actor plays on stage, movie, or TV
  • Some, but not all of a specific thing
  • Role in causing something to happen
  • verb
  • To make a line in a person's hair, by using a comb
  • To move two things apart creating a space
  • To leave someone, or to break off a relationship

amortization

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US / əˌmɔ:taɪ'zeɪʃn /

UK / əˌmɔ:taɪ'zeɪʃn /

C2
  • noun
  • Act of spreading a taxable cost over several years

low

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US / ləʊ /

UK / lo /

A1
  • adjecitve
  • Having a small quantity, supply, or amount
  • Being unhappy or unpleasant in attitude
  • Not high; being near the ground, or bottom
  • (Of a voice, sound) being soft; quiet
  • noun
  • Situation of not having a lot of something
  • Introduction to Video Content
  • Canada's debt load now highest among G7 countries. Canadians are living with the most borrowed money compared to people in other G7 nations, primarily due to large mortgages. This has raised concerns for Canada's Housing Authority about the vulnerability of both individuals and the economy if anything goes wrong.
    Currently, Canada's debt is exceeding its gross domestic product (GDP), the total value of its economy. A couple of years ago, it reached 107% of GDP. In contrast, other G7 countries have been reducing their debt-to-GDP ratios, while Canada has been increasing its debt.
    According to a report by the CMHC (Canada Mortgage and Housing Corporation), Canada has the highest GDP and debt ratio among the G7 countries. The only other developed country with a higher ratio is Australia, although it is not part of the G7. This makes Canada the top borrower within the G7.
    The main driver of this borrowing spree is mortgages, which account for 75% of the borrowed funds. People are using this money to finance their primary residences or invest in secondary properties. Property ownership, in all its forms, is on the rise in Canada.
    The surge in borrowing has been fueled by rising housing prices, which prompted people to buy before prices escalated further. Additionally, historically low mortgage interest rates, particularly since 2020, have made it easier for individuals to afford higher mortgage payments.
    These factors combined to create a situation where Canadians are increasingly reliant on debt to maintain their housing investments. However, this high level of borrowing poses risks to both individuals and the overall economy.
  • Subtitles section
  • Canadians are living on the most borrowed money than people in all other G7 nations, mostly because of our big mortgages.
  • And Canada's Housing Authority is warning about how exposed that makes us and the economy should anything go wrong.
  • Let's bring in Jeannie Lee.
  • So, Jeannie, how much debt are we juggling?
  • Well, Hannah, we already had the distinction of owing as much money, actually more money, than the entire value of Canada's GDP, gross domestic product, Canada's economy.
  • It was a hundred and seven percent of GDP a couple of years ago.
  • And if you look at other G7 nations, they've actually been cutting back on the amount of debt that they have as a proportion of GDP.
  • But Canada has been, you know, behaving badly in terms of that.
  • It's been adding instead.
  • And so, just some other facts that came out in the CMHC report today, the Housing Authority in Canada, stating that basically you have only Australia, that's the only other country in terms of developed countries,
  • That the GDP and debt ratio was higher than that of Canada.
  • Now, Australia is not part of the G7, but what we can say is that within the G7, Canada is the top borrower.
  • And in terms of what drives a lot of that borrowing, it's simply mortgages.
  • Seventy five percent of the amount of money that we borrow is to finance your home or maybe a secondary property, an investment property.
  • All of that type of ownership is on the rise.
  • And so, the fact is, all of this was driven by the fact that prices were up, which encouraged people to buy before they went up even more, plus those super low mortgage rates, abnormally low interest rates,
  • Especially since 2020.
  • And that, of course, combined to make for higher mortgages, and people were able to afford that when rates were very low.
  • But now that they aren't, after those eight rate hikes in a row, there's a lot more trouble being able to handle those monthly payments.
  • But we also know that the Bank of Canada, the government of Canada, has pretty much instructed the banks to go easy on people who are on the edge, who can't afford those monthly payments if rates were to go up,
  • But instead maybe stretch out their mortgages, extend those amortizations so that they go for years, if not decades longer.
  • So basically, we're borrowing more, and we're going to have to pay for it longer, is the bottom line here.