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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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Ukraine Claims Russian Summer Offensive Falls Short of Strategic Goals

A firefighter works at the site of an apartment building hit during a Russian drone and missile strike, amid Russia's attack on Ukraine, in Zaporizhzhia, Ukraine in this handout picture released August 30, 2025.

Ukraine’s armed forces have declared that Russia’s much-publicized summer offensive failed to secure full control of any major Ukrainian city, despite Moscow’s claims of significant territorial gains.

Russian Chief of General Staff Valery Gerasimov stated that since March, Russian forces had captured over 3,500 square kilometers of territory and taken control of 149 settlements. However, Ukraine’s General Staff dismissed these figures as “grossly exaggerated,” asserting that no major urban centers were fully occupied by Russian troops.

Military analysts note that Russia’s campaign, aimed at seizing the Donbas region and forcing Ukraine into concessions, devolved into a slow, attritional struggle rather than the decisive breakthrough Moscow had anticipated. While Russian forces did achieve localized advances, Ukrainian defenses held in key areas, preventing the collapse of strategic supply lines.

Kyiv warns that although the summer push failed to meet its objectives, Russian forces have gained certain tactical advantages that could shape battles in the coming autumn and winter months.


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