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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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South Korean Parliament Impeaches President Yoon Over Martial Law Decree

 

In a historic move, South Korea's parliament voted to impeach President Yoon Suk Yeol following his controversial martial law decree on December 3rd. The National Assembly passed the motion with a significant majority, 204-85. This decision came after Yoon's short-lived martial law order, which lasted only six hours before being unanimously overturned by parliament.

The impeachment motion was driven by allegations of rebellion and a violation of the constitution, as Yoon's decree was seen as an attempt to undermine democratic processes. Prime Minister Han Duck-soo will assume presidential duties while the Constitutional Court reviews the impeachment, a process that could take up to 180 days.

The impeachment has sparked widespread public reaction, with jubilant crowds celebrating outside the National Assembly. President Yoon, in a statement, vowed to continue serving the country despite the temporary suspension of his powers.


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