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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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Winter Blast: Freezing Rain and Blowing Snow Sweep Across Eastern Canada

Shoppers walk through a snow storm as they exit Eaton Centre on Boxing Day in Toronto, on Friday, Dec. 26, 2025.

A powerful winter storm is sweeping across Eastern Canada, delivering a hazardous mix of freezing rain, blowing snow, and strong winds from Ontario to Atlantic Canada. Weather alerts remain in effect as the system disrupts travel and threatens power outages across multiple provinces.

Ontario is experiencing some of the most intense conditions, with freezing rain coating surfaces in the Ottawa region and heavy snowfall blanketing communities farther north. Areas around Timmins are facing significant accumulations, while strong winds are creating whiteout conditions in open regions.

Quebec is also bracing for widespread impacts, with heavy snow expected north of Montreal and gusty winds reducing visibility along major highways. In Atlantic Canada, freezing rain warnings stretch across New Brunswick, Nova Scotia, and Prince Edward Island as the storm pushes eastward.

The system marks another round of turbulent winter weather for the region, prompting officials to urge residents to avoid unnecessary travel and prepare for potential disruptions as ice and snow continue to build.


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