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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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Ontario Liberal MPs Urge Trudeau to Resign Amidst Internal Turmoil

In a recent virtual meeting, over 50 Ontario Liberal MPs reached a consensus that Prime Minister Justin Trudeau should step down as party leader. This decision comes in the wake of Chrystia Freeland's dramatic resignation from her cabinet positions, which has intensified calls for Trudeau's departure.

Freeland's resignation letter, posted on social media, highlighted her disagreements with Trudeau and warned against "costly political gimmicks" that could harm the country. Her departure has prompted several Liberal MPs to publicly support her potential leadership bid.

As the Ontario Liberal caucus chair, Michael Coteau, was tasked with communicating the MPs' decision to Trudeau, the prime minister is now believed to be reflecting on his political future. The situation remains fluid, with MPs expressing varying opinions on how long Trudeau should be given to consider his next steps.

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