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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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Beijing’s Show of Force: China Launches Major Drills Around Taiwan

 

A ship fires a weapon during drills east of Taiwan in this screenshot from a video released by the Eastern Theater Command of China's People's Liberation Army (PLA) on Dec. 29, 2025.

China has initiated large‑scale military exercises around Taiwan, framing the operation as a direct warning to what it calls separatist forces and foreign supporters. The drills, conducted by the Eastern Theatre Command, involve naval vessels, fighter jets, and missile units operating across multiple zones encircling the island.

According to Chinese military statements, the exercises are designed to test joint combat readiness and simulate scenarios such as blockades and precision strikes. The move follows heightened tensions over international engagement with Taiwan, including recent arms sales and diplomatic exchanges that Beijing views as challenges to its sovereignty claims.

Taiwan’s defense ministry denounced the drills as coercive and destabilizing, placing its military on alert and tracking Chinese aircraft and ships in real time. Officials in Taipei emphasized that Taiwan will continue to safeguard its democratic system and maintain regional stability.

The latest show of force adds to a pattern of escalating military pressure in the Taiwan Strait, raising concerns among neighboring countries and global observers about the risk of miscalculation in one of Asia’s most sensitive flashpoints.


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