Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Trade War Turbulence: Canada’s Q2 GDP Suffers Steepest Drop Since Pandemic

 

                                        `  A railway grain terminal in Alberta. 


Canada’s economy contracted sharply in the second quarter of 2025, posting a 1.6% annualized decline — the steepest drop since the COVID-19 pandemic — as U.S. tariffs battered exports and dampened business investment. Statistics Canada reported that international shipments of passenger cars and light trucks plunged nearly 25%, while industrial machinery exports fell over 18%.

The downturn followed a temporary boost in Q1, when businesses rushed orders ahead of anticipated tariffs. Imports also fell, partly due to Canada’s retaliatory measures, but this was not enough to offset the export slump.

Despite the trade hit, household spending rose 4.5%, and housing activity remained resilient, offering some cushion to the economy. Still, the weak momentum heading into Q3 has left economists divided on whether the Bank of Canada will cut interest rates at its September meeting.

The data underscores the toll of escalating trade tensions with the U.S., Canada’s largest trading partner, and signals that while domestic demand shows strength, external headwinds could keep growth subdued in the months ahead.


Labels:

Comments

Post a Comment