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Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...
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Icy Assault Looms Over the GTA: Toronto Awaits a Storm of Freezing Rain

A pronounced winter threat challenges southern Ontario this Saturday as freezing rain continues to blanket the region. Early morning reports confirm that communities surrounding Toronto—including Vaughan, Richmond Hill, Markham, Newmarket, and others—are already feeling the impact, with even heavier accumulations expected in higher terrain as the storm advances .

Toronto, along with neighboring cities like Mississauga and Brampton, is bracing for a surge in freezing rain expected to kick in by Saturday night. Environment Canada warns that ice buildup of 3 to 5 millimetres in the urban core could lead to slippery roadways, broken tree branches, and power outages, while some areas in Durham Region might see accumulations up to 10 millimetres. With the storm projected to persist into Sunday morning before gradually shifting to rain as temperatures near the freezing mark, officials urge citizens to exercise extra caution on the roads .

Authorities are advising residents to postpone non-essential travel and closely monitor local weather updates. As the freezing conditions threaten infrastructure—risking both treacherous driving conditions and utility disruptions—the public is encouraged to prepare emergency supplies and stay aware of rapidly changing conditions .

This severe late-winter storm is a vivid reminder of nature’s unpredictable force. Whether it’s safeguarding vehicles with winter tires or ensuring that emergency kits are within easy reach, every precaution counts. As southern Ontario rallies in the face of this icy onslaught, communities remain united in their determination to weather the storm and protect one another .

Beyond the immediate concerns, many might wonder how best to prepare for similar events in the future, or even what historical weather patterns suggest about the resilience of the region during such icy bouts. Exploring preparedness strategies—ranging from safe driving tips on ice-covered roads to effective home power backup solutions—can provide valuable insights in mitigating risks during severe winter weather.

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