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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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Centrist Benny Gantz Resigns from Israeli War Cabinet Amid Frustrations with Netanyahu

 

Benny Gantz, a centrist member of Israel’s three-man war Cabinet, announced his resignation on Sunday, citing Prime Minister Benjamin Netanyahu’s mismanagement of the war effort and prioritization of his own “political survival” over the country’s security needs. Gantz’s departure does not immediately threaten Netanyahu’s majority coalition in parliament, but it leaves the Israeli leader more reliant on far-right allies who oppose the latest U.S.-backed cease-fire proposal and advocate for continued military action.

Gantz, a popular former military chief, had joined Netanyahu’s government shortly after the Hamas attack in a show of unity. His presence bolstered Israel’s credibility with international partners, particularly the United States. However, his frustration with Netanyahu’s lack of a new plan for postwar Gaza led to his decision to step down. Gantz called for elections in the fall and encouraged Defense Minister Yoav Gallant to follow suit and resign from the government as well.

The move highlights the ongoing tensions within the Israeli government and underscores the challenges of managing the conflict in Gaza. As Netanyahu faces increased reliance on right-wing members of his government, the international community watches closely, concerned about the impact on stability and prospects for peace in the region.

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