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Budget Day 2026: What a $63B+ Deficit Means for Your Wallet

  Canadian Money Brief • Thursday, November 5, 2026 Ottawa tables its second Carney-era budget today. Almost everyone expects big spending. Hardly anyone expects it to help their own bank account. Here is what the numbers say, and what to do about it. Finance Minister François-Philippe Champagne says today’s budget is about “changing Canada’s growth model”: less reliance on the U.S., more building at home. That is a big-picture pitch. Your household budget is a small-picture problem, and a new Abacus Data poll shows the gap between the two is wide. The poll in one line: only 10% of Canadians expect Budget 2026 to make their household better off. 30% expect to be worse off, and 48% expect little difference. (Abacus Data, 1,809 adults, Oct. 30 to Nov. 3.) The deficit, in plain numbers The Parliamentary Budget Officer (PBO) is the government’s independent fiscal referee. Its latest outlook, which predates the budget and only counts measures already announced, sets the stage: PBO proj...

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Moscow Warns U.S. Over Ukraine’s Use of Long-Range Weapons

 

In a significant escalation of tensions, Moscow has issued a stern warning to the United States following President Joe Biden’s authorization for Ukraine to use long-range ATACMS missiles to strike targets inside Russia. This decision marks a notable shift in U.S. policy, allowing Ukraine to extend its military reach beyond its borders.

The move comes amid ongoing conflict and heightened geopolitical tensions, with Russia expressing grave concerns over what it perceives as a direct threat to its national security. Russian officials have cautioned that this authorization could lead to a broader conflict, potentially drawing NATO into a more direct confrontation with Russia.

The U.S. decision follows extensive lobbying by Ukrainian officials, who argue that the ability to target strategic locations within Russia is crucial for their defense efforts. The authorization is seen as a response to recent developments, including North Korea’s reported support for Russia by sending troops to the region.

Ukrainian President Volodymyr Zelenskyy has remained measured in his public statements, emphasizing that actions will speak louder than words. Meanwhile, the international community watches closely, concerned about the potential for further escalation in an already volatile situation.


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