PBO trims economic forecast for 2026 and 2027 amid new U.S. tariffs
The Parliamentary Budget Office is trimming its outlook for economic growth for this year and next amid new U.S. tariffs and Canadian countermeasures.
The federal budget watchdog says it now projects real gross domestic product growth of 0.9 per cent for this year and 1.5 per cent in 2027.
The forecast is down from an estimate in June for growth of 1.1 per cent and 1.6 per cent, respectively.
Trade talks between Canada and the U.S. broke down at the end of August followed by a new round of U.S. tariffs and Canadian counter-tariffs.
The PBO says it also now projects a budgetary deficit of $63.3 billion for the 2026-27 fiscal year which will peak at $70.2 billion in 2027-28.
It says, relative to its June outlook, the deficits are $3 billion higher per year on average over 2026‑27 to 2030‑31, as new spending measures more than offset stronger revenues.
This report by The Canadian Press was first published Oct. 20, 2026.
Copyright 2026, The Canadian Press. All rights reserved.
Alberta votes in referendum to stay in Canada. A timeline on how we got here
Albertans voted overwhelmingly Monday to remain in Canada in a referendum, writing a new chapter in longstanding debate on relations with the rest of the nation.
Here's a look at some key events:
1980 — The federal government ignites widespread alienation in Alberta with the National Energy Program, which keeps domestic oil prices below world levels to promote Canadian energy security and increase the federal share of oil revenues. Alberta views it as an unjustified attack and a federal money grab. The issue is later settled, but discontent with Ottawa continues.
1982 — Separatism enjoys a brief heyday. Gordon Kesler of the Western Canada Concept Party wins a provincial byelection in central Alberta on a separatist platform. Later that year in the general election, he loses a spot in the legislature. The party receives 12 per cent of the vote but no seats.
2019 — The anti-Ottawa mood ramps up as the United Conservative Party under Jason Kenney wins power in Alberta, capitalizing on discontent over federal rules and policies deemed to impair Alberta’s ability to create wealth, particularly in oil and gas. Premier Kenney fights for more independence from Ottawa but remains a staunch advocate for the province staying in Confederation.
2022-23 — Kenney is replaced by Danielle Smith, who wins government in the 2023 election on a platform of further asserting independence from Ottawa. Unlike Kenney, Premier Smith, while stressing her preference for a “sovereign Alberta within a united Canada,” refuses to characterize separatists as fringe extremists, saying they have valid grievances that deserve to be aired.
April 28, 2025 — Mark Carney and the Liberals defeat the federal Conservatives to win a minority government.
May 5, 2025 — Smith announces a panel to discuss Alberta's future in Canada. She says her government won't itself put separation on a ballot but would honour a successful citizen petition seeking such a vote. At the same time, her government takes steps to eventually pass rules to lower thresholds for citizen-led petitions.
June 2025 — Former Alberta Progressive Conservative deputy premier Thomas Lukaszuk launches a “Forever Canadian” petition to affirm the province stays in Canada. It eventually collects more than 400,000 names — enough to validate the petition. But by the spring of 2026, the petition is tied up in a legislature committee as Smith questions whether Lukaszuk gathered the names for a referendum or as a trigger for a vote among legislature members.

January 2026 — Mitch Sylvestre of the separatist Alberta Prosperity Project is given the green light by election officials to launch a petition asking whether Alberta should leave Canada. Months later, the petition is deemed successful, having gathered about 223,000 signatures.
Feb. 19, 2026 — Smith announces nine referendum questions about immigration and constitutional concerns will be put to Albertans in an Oct. 19 referendum.
May 13, 2026 — An Alberta Court of King's Bench judge quashes the separatist petition, ruling Smith’s government didn't properly consult First Nations as required in the Constitution. Smith later promises to challenge the ruling, and it remains in legal limbo.

May 21, 2026 — Smith announces a 10th referendum question asking whether Alberta should stay in Canada or hold a binding vote on separation. Smith cites the legal uncertainty of the court decision on the separatist petition as the driving force, saying it unduly deprives thousands of Albertans of having a say. Smith later cites Lukaszuk's petition, too, as a reason. She says both show hundreds of thousands of Albertans want the issue decided.
Sept. 10, 2026 — The Alberta government launches a $4-million advertising campaign for the referendum and urges citizens to vote to stay in Canada. The move comes as polls suggest a broad majority of Albertans want to stay.
Sept. 14, 2026 — Smith's UCP loses a byelection to the Opposition NDP in their conservative stronghold of Calgary Shaw. Critics across the political spectrum say the referendum was a factor in punishing Smith’s UCP. Her office says the party lost due to right-centre vote splitting.

Sept. 16, 2026 — Smith's government publishes a report it commissioned from the University of Calgary to determine what fiscal challenges and benefits an independent Alberta could see. It estimates an initial five-year price tag of $50 billion to $170 billion, noting that figures could swing sharply depending on factors outside Alberta's control.
Oct. 16, 2026 -- Carney wraps up a two-day barnstorming tour of Alberta, urging people to vote to stay in Canada. Carney and Smith sing O Canada, tap a keg and have a beer at a Red Deer brewery at a pro-Canada event.
Oct. 17, 2026 -- Advance voting closes. Elections Alberta reports 1.3 million Albertans -- about 43 per cent of eligible voters -- have already cast a ballot.
Oct. 19, 2026 -- Albertans vote by a wide margin to stay in Canada.
This report by The Canadian Press was first published Oct. 17, 2026.
Copyright 2026, The Canadian Press. All rights reserved.
The latest developments on the Alberta referendum
Albertans have voted in a historic referendum.
There are 10 questions on the ballot, with the key one asking whether the province should remain in Canada or hold a second, binding referendum on leaving the country.
The other nine questions focus on immigration and the Constitution.
Here are the latest developments (all times Mountain):
10:10 p.m.
All polls are now closed in Alberta's separation referendum.
Most polling stations closed two hours earlier at 8 p.m.
About 100 out of the 1,400 stayed open late because they didn't open on time in the morning due to various issues.
Elections Alberta says voting results can start being reported.
About 1.3 million voters cast ballots by mail or at advance polls.
---
This report by The Canadian Press was first published Oct. 19, 2026.
Copyright 2026, The Canadian Press. All rights reserved.

Tony Romo Proved He’s The Best Sports Commentator Last Night With His Hilarious 'Rocky' Quotes
If you're familiar with the Dallas Cowboys, then you're familiar with Tony Romo, it's just that simple. The former Dallas Cowboys quarterback has taken up several hobbies since his days on the field, including sports commentating! After lots of practice, "Tony Romo" and "sports commentator" have become something you can often hear in the same sentence and he was hitting an ultimate high last night.
Fans had a lot of good things to say about Romo's commentating skills last night, especially with him throwing in the enthusiastic Rocky reference.
We'll get to that later.
It's not uncommon to see former NFL players on the other side of the sports world once their career on the field comes to an end, but it is worth celebrating when they end up being great at it.
When you're as big of a legend as Romo is, you certainly have the upper hand.
Twitter user CoachTeixeira tweeted "Tony romo with the greatest commentary of all time!"
They followed up their claim with a line that Romo used during his commentary of the Texan game. "'It’s like watching Rocky when he’s getting punched over and over, he’s not losing he’s getting mad!'”
If there's an easy way to win people's hearts when it comes to commentating, it's quoting one of the greatest movies ever made.
Certainly, other factors play a role, such as voice, tone, and overall knowledge of the sport that's being broadcast.
Sports fans are a tough crowd to please, so sometimes even that isn't enough!
Twitter user aubreyybadger tweeted "Me listening to any other commentator vs. me listening to Tony Romo," with a hilarious dog meme below it.
The dog is clearly upset in the first photo, and blissful in the second.
Now that Romo has gotten such a great reaction from fans, his current free agent status may be changing very soon.
Rumors have it that ESPN is preparing a massive offer for Romo to leave CBS as an analyst and become the lead analyst for ESPN's "Monday Night Football."
It'd be silly for him to turn it down, so it's just a matter of time before he's back in the big leagues!
Like @DavidWysong_ tweeted above, "Every game is 100 times better when Tony Romo is commentating it."
You've got that right!