Canadian Prime Minister Justin Trudeau resigned after the majority of his own party stepped down.<\/p>\n
\u201cCanadians deserve a real choice in the next election, and with internal struggles, it has become clear to me that I cannot be the person to carry the Liberal standard into the next election,\u201d Trudeau said on Monday.<\/p>\n
During his nine years in power, Trudeau represented the Liberals globally in the \u201cculture wars\u201d but failed to find solutions to the cost-of-living crisis and economic stagnation at home.<\/p>\n
Canadians have grown increasingly dissatisfied with Trudeau\u2019s economic policies. Canada\u2019s gross domestic product (GDP) per capita has contracted for six consecutive quarters and has fallen by 3.5% since its peak in 2022\u2014a decline never before seen outside of a recession.<\/p>\n
Unemployment continues to rise, while wages are not keeping pace with market price increases. The dream of homeownership seems even more unattainable for many young Canadians, an important voting bloc that helped elect Trudeau.<\/p>\n
The Liberal Party will move away from \u2018Trudeau-style progressivism\u2019<\/strong><\/p>\n The economy, which under Trudeau focused on record immigration, expanded government spending, and \u201cgreen\u201d goals, is expected to enter a period of \u201crestructuring\u201d in the face of Donald Trump\u2019s administration and the threat of potential tariffs from the United States.<\/p>\n As Canada prepares for the Trump era, the Conservative Party is gearing up to take power and steer the country away from Trudeau\u2019s \u201cprogressive-liberal\u201d policies.<\/p>\n Although the Liberal Party will now choose Canada\u2019s next leader, the country will likely face a national election soon after. Some polls show the Liberals trailing the Conservatives by 20 points, and the world\u2019s fourth-largest oil-producing nation is likely to debate taxes, spending, and environmental regulations.<\/p>\n Anthony Housefather, a Liberal Party MP from the Montreal region, said earlier that a new leader could help the Liberals abandon the \u201cprogressive\u201d agenda led by Trudeau and present a \u201cmore centrist vision.\u201d<\/p>\n Conservatives poised to win elections with \u2018Trumpist\u2019 policies<\/strong><\/p>\n Pierre Poilievre, leader of the Conservatives and expected to become prime minister after the next election, promises to reduce Trudeau\u2019s carbon tax while increasing raw material production.<\/p>\n If the Conservatives win, they are expected to favor a government that is \u201cmore pro-business and pro-extraction, smaller government, and less spending.\u201d<\/p>\n \u201cCanadians can take back control of their lives and their country, take back control of our border, take back control of immigration, take back control of spending, deficits, and inflation, take back control of our streets,\u201d Poilievre said in a video posted after Trudeau\u2019s resignation, adding, \u201cand put Canada first.\u201d<\/p>\n In an interview with Canadian right-wing influencer Jordan Peterson last week, Poilievre said he admired the economic models of Ireland, Singapore, Switzerland, and Israel, stating he would cut federal aid such as foreign aid, outsourcing, and grants or loans to businesses in favor of lower taxes overall.<\/p>\n Trump continues to mock Trudeau<\/strong><\/p>\n Such policies align more closely with Trump\u2019s. Trump has threatened a 25% tariff on his northern neighbor and mocked Canada as the \u201c51st state\u201d of the United States.<\/p>\n Indeed, in a Truth Social post following the Canadian politician\u2019s resignation, Trump wrote: \u201cThe United States can no longer tolerate the massive trade deficits and subsidies Canada needs to survive. Justin Trudeau knew this and resigned.\u201d<\/p>\n Trudeau, 53, will remain prime minister until a new leader is elected, likely in March.<\/p>\n Potential candidates include Chrystia Freeland, whose resignation as finance minister last month signaled the end for Trudeau; Dominic LeBlanc, a Trudeau ally who replaced her; and Mark Carney, former governor of the Bank of Canada, who is also chairman of Brookfield Asset Management and Bloomberg.<\/p>\n Budget and fiscal issues stand out<\/strong><\/p>\n Fiscal spending has emerged as a key issue for Trudeau, with Freeland emphasizing her disagreement with the prime minister as she resigned, suggesting that proposed tax rebates were \u201cirresponsible political gimmicks.\u201d<\/p>\n The country\u2019s federal debt has almost doubled since 2015, rising to 1.24 trillion Canadian dollars (US$870 billion) in the 2023\u201324 fiscal year.<\/p>\n However, the federal government has added billions of dollars in permanent new spending measures, including child benefit vouchers, subsidized daycare, and a national dental plan.<\/p>\n Total program spending accounted for 16.2% of the economy last fiscal year\u2014the highest rate since the early 1990s, excluding the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":" Canadian Prime Minister Justin Trudeau resigned after the majority of his own party stepped down. \u201cCanadians deserve a real choice in the next election, and with internal struggles, it has become clear to me that I cannot be the person to carry the Liberal standard into the next election,\u201d Trudeau said on Monday. During his […]<\/p>\n","protected":false},"author":1,"featured_media":7129,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[4651,4646,4649,4647,4644,503,4642,4643,4645,4650,4648],"class_list":["post-7128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-canada-cost-of-living-crisis","tag-canada-economic-stagnation","tag-canadian-election-2023","tag-canadian-federal-debt","tag-conservative-party-policies","tag-headline","tag-justin-trudeau-resignation","tag-liberal-party-canada","tag-pierre-poilievre-trumpism","tag-trudeau-progressive-policies","tag-trump-tariffs-canada"],"yoast_head":"\n