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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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EU’s Kallas Says Russia’s Claims of Ukrainian Strikes Are a ‘Distraction’

 


European Union foreign policy chief Kaja Kallas has rejected Russia’s recent allegations that Ukraine carried out attacks on Russian territory, calling the claims a “distraction” designed to shift attention away from Moscow’s actions in the war.

Kallas argued that Russia is using unverified accusations to undermine diplomatic efforts and to create confusion among international audiences. She emphasized that such narratives fit a long‑standing pattern in which Moscow attempts to redirect blame while continuing its military campaign against Ukraine.

Russian officials recently claimed that Ukrainian drones targeted sites inside Russia, but provided little evidence to support the assertions. Ukrainian authorities have dismissed the allegations as fabrications intended for domestic propaganda.

Kallas urged European partners to remain focused on supporting Ukraine and not allow what she described as misleading narratives to derail ongoing diplomatic and humanitarian efforts.


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