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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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US Blocks Abbas from UN Amid Rising Global Recognition of Palestinian Statehood

 

The United States has announced it will deny and revoke visas for several senior members of the Palestinian Authority (PA) and the Palestine Liberation Organization (PLO) ahead of next month’s United Nations General Assembly in New York. The move is expected to prevent Palestinian Authority President Mahmoud Abbas from delivering his customary address at the annual gathering.

The State Department cited the PA and PLO’s alleged failure to repudiate terrorism and their pursuit of unilateral recognition of Palestinian statehood as reasons for the restrictions. However, the Palestinian mission to the UN — staffed by diplomats permanently based in New York — will be exempt from the ban, in line with the UN headquarters agreement.

The decision comes as several key US allies, including the United Kingdom, France, Australia, and Canada, have pledged to formally recognize a Palestinian state during the summit. These recognition moves reflect growing frustration with Israel’s ongoing war in Gaza, the humanitarian crisis it has triggered, and continued settlement expansion in the West Bank.

Abbas’ office condemned the US action, calling it a violation of international agreements governing access to the UN, and vowed to respond diplomatically. The restrictions could significantly reduce the Palestinian presence at a high-profile moment in the global debate over statehood and peace in the Middle East.


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