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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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Fatal Fire Claims Life at North York Retirement Residence

                The fire started around 10:20 p.m. on Sunday at a residence on Finch Avenue West.

A man has died following a fire that broke out inside a North York retirement home late Sunday evening. Emergency crews were called to the residence after reports of smoke and flames coming from one of the units. Firefighters were able to contain the blaze quickly, but one male resident was found unresponsive inside.

Paramedics attempted life‑saving measures, but the man was pronounced dead at the scene. Other residents were safely evacuated, and no additional injuries were reported.

Investigators are now working to determine the cause of the fire. Officials say there is no immediate threat to the public, and the building has since been deemed safe for residents to return to unaffected areas.

The victim’s identity has not yet been released as authorities notify next of kin.


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