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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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Carney Government Faces First Budget Confidence Test in Commons

 

            Prime Minister Mark Carney's budget needs two opposition MPs to either support or abstain it to pass.


The House of Commons is set to hold its first confidence vote tied to Prime Minister Mark Carney’s inaugural federal budget on Thursday evening. The vote will focus on a Conservative sub-amendment to a Bloc Québécois amendment, both of which challenge key elements of the government’s fiscal plan.

The Liberal government has declared the votes to be matters of confidence, meaning defeat could trigger a federal election. While the stakes are high, the government is expected to survive this initial test thanks to support from the New Democratic Party (NDP) and the Bloc Québécois, who have both signaled they will vote against the Conservative motion.

Interim NDP Leader Don Davies confirmed that his caucus of seven MPs will side with the Liberals, ensuring the defeat of the Conservative sub-amendment. However, Davies emphasized that this does not guarantee NDP support for the budget itself, which will face a separate confidence vote later this month.

The Conservative sub-amendment calls for scrapping Ottawa’s remaining climate pricing rules for industrial polluters and eliminating clean fuel regulations. The Bloc amendment, scheduled for a vote on Friday, criticizes the budget for failing to meet deficit reduction targets and for not including new oil and gas pipeline projects.

Government House Leader Steven MacKinnon reiterated that both votes are being treated as confidence matters. “If the government loses, it would amount to a loss of confidence in the House,” he said, underscoring the political weight of the proceedings.

For now, the Liberals appear secure in clearing the first hurdle, but two more confidence votes remain. With a minority government, Carney’s Liberals will need continued support from opposition parties to avoid a snap election.

The outcome of these votes will not only determine the survival of the government but also set the tone for how Carney’s first budget—framed as a response to global economic pressures—will shape Canada’s fiscal and political landscape in the months ahead.


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