It is expected that Justin Trudeau will announce his resignation as leader of the Liberal Party of Canada this week, reports the Globe and Mail, which could trigger a contest for his position as Prime Minister.
As noted by Bloomberg, Trudeau has been under pressure from elected party lawmakers to step down for several months. This pressure intensified after Chrystia Freeland, his finance minister, resigned on December 16, stating that she and the Prime Minister disagreed on policy issues.
Trudeau's decision on how to proceed is being made very cautiously, according to a source close to the Prime Minister. A Globe report cited unnamed individuals who indicated that Trudeau had not firmly decided to relinquish power.
It is noted that Liberal lawmakers plan to hold a caucus meeting on Wednesday.
After the fallout with Freeland, some of Trudeau's closest advisors believe that the Prime Minister will not be able to survive the political fallout, sources familiar with the situation told Bloomberg.
More than 20 Liberal Members of Parliament have publicly called for Trudeau's resignation, and even more have stated in closed meetings that the Prime Minister has no choice but to step down. The Liberals hold 153 seats in the House of Commons, including Trudeau's.
"The country may face instability, particularly due to the economic threat of a potential 25% tariff on Canadian imports from the new U.S. administration. Simply put, timing is of the essence. It is imprudent to remain in leadership," reads a recent letter sent to the Prime Minister by Cody Blois, who leads a group of Liberal members from the four easternmost provinces.
The Prime Minister has practically disappeared from public view since Freeland issued her scathing resignation statement. Trudeau has spent most of his vacation at a ski resort in western Canada and has not communicated with journalists since returning to Ottawa.
It is noted that if 53-year-old Trudeau indeed announces his intention to resign after nine years in power, it will initiate an intra-party battle over how to select a successor. If he resigns immediately, the Liberals are likely to choose an interim leader from among their elected caucus members.
However, it is also possible that Trudeau may decide to remain in his position while Liberal Party members conduct a leadership race to select his successor. The timeline for the party contest is expected to be very tight, given that the major opposition parties have stated their intention to vote against the government at the next session of the House of Commons.
Parliamentary experts have stated that the government may only have until March before it faces a vote of no confidence in the House of Commons.
Freeland has been calling Liberal lawmakers and is expected to run for the leadership position if the opportunity arises.
Mark Carney, the former Governor of the Bank of Canada and the Bank of England, may also run if it is an open competition that does not favor incumbent lawmakers, according to a source familiar with the matter.
Trudeau's cabinet members often mentioned in discussions about party leadership include Foreign Minister Mélanie Joly, Minister of Industry François-Philippe Champagne, and Minister of Transportation and Internal Trade Anita Anand.
Updated at 18:20:
"Last night at dinner, I shared with my children the decision I am announcing to you today. I intend to resign as party leader and as Prime Minister after the party selects its next leader through a robust national process," Trudeau said, according to Bloomberg.
Trudeau added that the Canadian Parliament will suspend its work until March 24. He stated that he will remain in office as Prime Minister until a new Liberal leader is elected.
The agency noted that the abandonment of electoral reform has taken a significant toll on Trudeau's reputation, particularly among young voters who helped him and the Liberals rise from third place to a majority government in 2015.
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