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Canada's finance minister Chrystia Freeland is stepping down. Mark Carney next?


Canadian Finance Minister Freeland

Deputy Prime Minister and Finance Minister Chrystia Freeland has resigned. She was once thought to be the future of the party but is tied too closely to Trudeau, who is now cutting her loose in an attempt to save his political life.

It is obvious that the Liberals are trying to get Mark Carney on board.

His resignation comes after Trudeau promised a $250 check to working Canadians only to balk, in part because the NDP wanted to add more.

Here his resignation letter is not the usual “thank you and goodbye” it shows her differences with Trudeau, which is likely to be true but also an attempt by her to distance herself.

It has been the privilege of my life to work in government, to work for Canada and Canadians. We have achieved a lot together.

On Friday, you told me that you no longer want me to be your Finance Minister and you offered me another position in the Cabinet.

After thinking, I have decided that the only honest and feasible path for me is to resign from the Cabinet.

To be effective, a Minister must always speak on behalf of the Prime Minister and with full confidence. In coming to a decision, you made it clear that I no longer enjoy that confidence and the authority that comes with it.

For the past few weeks, you and I have been agonizing over the best way forward for Canada.

Our country is facing a great challenge today. The incoming administration in the United States is pursuing a policy of aggressive economic nationalism, including the threat of 25 percent tariffs.

We must take these risks very seriously. That means keeping our fiscal tools ready today, so we have the resources we may need for an upcoming war/festival. That means avoiding costly political gimmicks, which we can't afford and which make Canadians doubt that we recognize the gravity of the situation.

That means pushing back against 'America First' economic nationalism with a determined effort to fight for capital and investment and the jobs they bring. That means working with good faith and humility with the Principals of the regions and territories of our vast and diverse country, and building a real Team Canada response.

I know Canadians would recognize and respect such an approach. They know when we are working for them, and they also know when we are focusing on ourselves. Inevitably, our time in government will come to an end. But how we deal with the threat our country is facing now will define us for a generation, and perhaps beyond. Canada wins if we are strong, resilient and united.

It is this conviction that has fueled my strenuous efforts this fall to sustain our spending in ways that give us the flexibility we need to meet the great challenges the United States faces.

The government is unpopular in Canada and will almost certainly be defeated in the next election, which is coming up next October, but that could be much sooner given the way the winds are ' blow.



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