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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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Iran Warns of “Severe” Retaliation Amid Escalating Tensions

            Iran threatens ‘harsh, regrettable’ response to any aggression after claiming full-scale war with the US, Israel.

Iran has issued a sharp warning that any act of aggression against the country will trigger a “harsh” and “regret‑inducing” response, signaling a hardening stance as regional tensions continue to rise. President Masoud Pezeshkian delivered the message publicly, stressing that Iran will not hesitate to defend itself against external threats.

The warning followed renewed statements from U.S. leadership suggesting that Washington would respond forcefully if Iran attempts to rebuild elements of its missile or nuclear programs. Iranian officials quickly pushed back, accusing the United States of escalating rhetoric and attempting to intimidate the country.

Senior advisers in Tehran echoed the president’s remarks, emphasizing that Iran views any military strike or covert action as a direct attack on its sovereignty. The exchange has fueled concerns among analysts who fear that heightened rhetoric on both sides increases the risk of miscalculation.

For now, Iran’s message remains firm: any strike or perceived act of aggression will be met with a powerful and immediate response.


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