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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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Relentless Push: Russia Claims Strategic Edge in Ukraine Offensive

 

Servicemen of the 115th Separate Mechanised Brigade of the Ukrainian Armed Forces use an RPG-7 grenade launcher during training between combat missions, in Kharkiv region, Ukraine.


Russia’s top military commander, General Valery Gerasimov, has declared that Russian forces are conducting a non-stop offensive along nearly the entire front line in Ukraine, asserting that the “strategic initiative” now lies with Moscow.

According to Gerasimov, Russian troops have intensified airstrikes on Ukrainian cities far from the battlefield, including a recent attack on Kyiv that killed at least 23 people and wounded 38. He reported that since March, Russia has seized more than 3,500 square kilometers of territory, captured 149 villages, and now controls the vast majority of the Luhansk, Donetsk, Zaporizhzhia, and Kherson regions.

The offensive has also pushed into Ukraine’s southeastern Dnipropetrovsk region, with seven villages reportedly under Russian control. Moscow says it has carried out 76 targeted strikes this year on Ukrainian military-industrial facilities, aiming to cripple production of long-range missiles and drones.

Ukrainian officials accuse Russia of deliberately targeting civilian areas, a charge the Kremlin denies. The escalation comes less than two weeks after a high-profile summit between U.S. President Donald Trump and Russian President Vladimir Putin, which Washington had hoped would advance peace efforts.


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