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5 Things to Know Today: Midterms Day, Oil Plunge, Trade Deal, Budget (Nov 3)

  Canadian Money Brief • Tuesday, November 3, 2026 It’s Election Day in the United States, oil just had its biggest one-day drop since late July, and Ottawa tables its budget on Thursday. Here are five things to know today, and what each one means for your wallet. 1. U.S. midterms: Canada is watching Americans vote in the midterm elections today. Markets are expecting Democrats to win the House of Representatives, while control of the Senate is still uncertain. Trade policy has been a campaign issue, especially in border states such as Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses. What it means for you: The result could move the loonie, the TSX and the tariff talks over the coming days, but one election night is rarely a reason to rebuild your TFSA or RRSP. If you need to convert Canadian dollars to U.S. dollars soon, expect choppy exchange rates. 2. Oil plunges on Iran diplomacy, then bounces Oil fell sharply o...
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Freeland Undeterred Following Meeting with Canadian Tech Leaders Over Capital Gains Tax Changes


Finance Minister Chrystia Freeland recently met with Canadian technology industry leaders in Toronto to discuss the federal government’s recent capital gains tax hikes. These changes have sparked widespread backlash from tech entrepreneurs and investors. During the meeting, Freeland emphasized the government’s belief in the budget and its investments. She defended the capital gains tax increase, stating that the rate set would still be lower than in California or New York City for most individuals. Freeland also highlighted the importance of essential investments supported by the budget.

The Canadian tech sector has expressed strong opposition to these tax adjustments, fearing potential negative impacts on capital availability, talent retention, and overall innovation. Over 1,400 tech leaders have signed an open letter calling for a reversal of the policy. Despite the criticism, Freeland remains undeterred, emphasizing the government’s commitment to its budgetary decisions.

To mitigate the impact of the capital gains hike, the government plans to increase the Lifetime Capital Gains Exemption and introduce the Canadian Entrepreneurs’ Incentive. These measures aim to address concerns raised by the tech sector.

In summary, while the capital gains tax changes have faced criticism, Freeland stands firm in her belief that they are necessary for Canada’s future prosperity. The government’s commitment to essential investments remains at the forefront of its decision-making process.


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