• MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • All
  • COVID-19
  • Finance
  • Housing Market

Published by Sherry Cooper

December 16, 2024

Fall Economic Statement Delivered Despite Chrystia Freeland’s Resignation.

Chrystia Freeland Resigns On The Day of The Fall Economic Statement

Finance Minister Freeland rocked markets today by submitting her resignation from Cabinet. Trudeau had asked her to take another Cabinet post, but she declined in a scathing letter accusing Trudeau of “costly political gimmicks” like “bribe-us-with-our-own-money cheques for $250 and a two-month GST holiday.

“Inevitably, our time in government will come to an end,” Ms. Freeland said, openly acknowledging what polls have been saying for over a year. “But how we deal with the threat our country currently faces will define us for a generation, and perhaps longer.”

The Federal deficit for 2023-2024 grows from $40 billion to $61.9 billion, partly boosted by a court settlement to pay funds to Indigenous children. The deficit far surpasses Freeland’s guardrail of $40.1 billion for last year’s budget deficit. New spending initiatives were announced amounting to $24 billion over the next six years. The most significant component is accelerated incentives to encourage business investment to improve productivity. This is very similar to a program issued by Finance Minister Frank Morneau years ago. 

Dominic LeBlanc has been sworn in as the new Finance Minister.

Bottom Line

Today’s Fall Economic Statement took a backseat to the news that Chrytia Freeland resigned. There is more talk of a Trudeau resignation and an early election. Liberals are suggesting that Trudeau has stayed on too long, likening him to Biden. The caucus is meeting at 5 PM today.

Please Note: The source of this article is from SherryCooper.com/category/articles/

Share this:
Categories: Finance

Recommended articles.

View More

The Bank of Canada holds rates steady in the face of tariff uncertainty

April 16, 2025

Bank of Canada Holds Rates Steady In The Face Of Tariff Uncertainty–More Rate Cuts Coming The Bank of Canada held its benchmark interest rate unchanged at 2.75% at today’s meeting, […]

Read More

Tariffs Dampen Canada’s Spring Housing Season

April 15, 2025

Global Tariff Uncertainty Sidelines Buyers Canadian existing home sales plunged last month as tariff concerns again mothballed home-buying intentions. Consumer confidence has fallen to rock-bottom levels as many fear the […]

Read More

Better than expected Canadian inflation in March may not be enough to trigger another BoC rate cut tomorrow

April 15, 2025

Weaker Than Expected Inflation May Not Be Enough to Trigger Another Bank of Canada Rate Cut Tomorrow Canadian consumer prices rose 0.3% in March (or remained flat when seasonally adjusted), […]

Read More

Weak Canadian job growth in March and rising unemployment is the first harbinger of a trade-war induced economic slowdown

April 4, 2025

Weak Canadian Job Creation Is The First Fallout From The Trade War Today’s Labour Force Survey for March was weaker than expected. Employment decreased by 33,000 (-0.2%) in March, the first decrease since […]

Read More

Canadian Inflation Jumped to 2.6% y/y in February As GST Tax Holiday Ended

March 18, 2025

Canadian Inflation Surged to 2.6% in February, Much Stronger Than Expected The Consumer Price Index (CPI) rose 2.6% year-over-year (y/y) in February, following an increase of 1.9% in January. With the federal […]

Read More
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert

© 2025 Dominion Lending Centres Inc. All rights reserved. Privacy Policy Terms & Conditions