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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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Carbon Below: Southwestern Ontario Weighs Risks of Underground CO₂ Storage

                                           Minister of Natural Resources Mike Harris 


The Ontario government’s proposed Geologic Carbon Storage Act, 2025 is stirring debate in Southwestern Ontario, where residents are wary of the environmental and safety implications of storing carbon dioxide deep underground. The legislation, part of the broader Resource Management and Safety Act, 2025, would create a regulatory framework for capturing and permanently storing CO₂ in geological formations.

Supporters argue the move could help industries cut emissions by 5–7 million tonnes annually, create thousands of short-term jobs, and save Ontario businesses nearly $1 billion a year. The province says the framework will include strict safety measures, phased implementation, and collaboration with Indigenous communities, municipalities, and industry stakeholders.

However, some Southwestern Ontarians remain skeptical, citing concerns over potential groundwater contamination, seismic activity, and the long-term monitoring of storage sites. Environmental advocates are calling for more public consultation and independent risk assessments before large-scale projects proceed.

The government maintains that geologic carbon storage is a key tool in meeting climate targets while supporting economic growth — but in communities closest to proposed sites, the question remains whether the benefits outweigh the perceived risks.


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