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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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Australia Strikes $408M Deal with Nauru to Deport Former Detainees Without Visas

                                   Australian government signs deal to deport former detainees to the tiny island country of Nauru.




The Australian government has signed a controversial agreement with Nauru to deport former immigration detainees who lack valid visas, in a move that has sparked fierce criticism from refugee and human rights advocates.

Under the memorandum of understanding, Australia will pay Nauru an upfront sum of 408 million Australian dollars (about $267 million USD) once the first group arrives, followed by annual payments of 70 million AUD for ongoing resettlement. The deal targets individuals released from detention after a 2023 High Court ruling ended the policy of indefinite detention for people who could not be deported to their home countries due to risks of persecution or harm.

Home Affairs Minister Tony Burke said the arrangement ensures “proper treatment and long-term residence” for those with no legal right to remain in Australia, describing it as essential to maintaining the integrity of the visa system.

Critics, however, warn the agreement could pave the way for mass deportations without due process. The Asylum Seeker Resource Centre called the deal “discriminatory, disgraceful and dangerous,” while legal advocates argued it dismantles key protections for vulnerable individuals.

The deal follows earlier arrangements allowing the deportation of a small number of violent offenders to Nauru, where they were granted long-term visas. Human rights groups have long opposed transfers to the island, citing a United Nations report that found “systematic violations” of the International Convention Against Torture.


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