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Politics Week: Holiday Break Begins But Trudeau Has Work To Do

CANADA
  • Parliament rises for holiday break until Jan. 29, though committees may still hold ad hoc hearings and PM Trudeau/FM Freeland will likely keep up media appearances.
  • Polling aggregator 338Canada shows Conservatives likely to win a majority government if an election were held now. Election is due in 2025 under a traditional four-year mandate but the Liberals rely on NDP to pass confidence motions and avoid an earlier campaign.
  • Uncertainty for 2024 around how Liberals will meet NDP demands for expanded public healthcare as govt cuts departmental spending and interest costs are surging.
  • Trudeau shoring up support within his party amid polls suggesting Canadians are tiring of him, arguing he's well equipped to beat Conservatives and gain a nearly unprecedented fourth election win.
  • Govt challenged over cost of living and housing squeeze. While inflation is slowing to 3% and investors see BOC cuts maybe mid-2024, housing shortage will take perhaps a decade to solve.
  • House of Commons Speaker Greg Fergus, recently named to job from governing Liberals, apologizes for partisan speech after committee recommends that and a fine. Conservatives and Bloc on committee said he should be removed. Previous speaker from Liberals recently resigned in disgrace.
  • Canada votes for UN motion calling for ceasefire in Gaza, a shift from earlier comments supporting Israel’s right to defend itself. The issue has split some Liberals and may continue to do so.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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