(Bloomberg) -- Prime Minister Justin Trudeau is set to huddle with his new cabinet on how to address the soaring cost of living, a growing vulnerability for his government as more Canadians blame it for their rising bills.Most Read from BloombergBorrowers With $39 Billion in Student Loans Finally See ReliefBond Bulls at JPMorgan, Allianz Keep Piling Into a Bet Gone BadPutin Turns to Ruble and Ballot to Shore Up Shaken AuthorityCargill Tests 123-Foot-Tall Sails in Effort to Slash Fuel BurnTrudeau
Trudeau overhauled his front bench last month to focus on affordability, especially housing. A three-day retreat in the eastern province of Prince Edward Island will be the first opportunity for the new cast to hammer out potential solutions and messaging together.
While headline inflation was 3.3% in July, food prices were up 7.8% and the central bank’s aggressive hikes mean mortgage interest costs have spiked 30.6%. Record levels of immigration have exacerbated a housing supply shortage, helping boost the benchmark home price to C$754,800 . “We understood then, and we understand now, that inflation has been really challenging for Canadians. And we understood that the federal government had a responsibility not to pour fuel on the flames of inflation,” Freeland said.
In an interview, Industry Minister Francois-Philippe Champagne said ministers will spend the retreat examining how they can support Canadians with their short-term challenges, but also keeping an eye on the longer term. He pointed to recent investments by automakers including Volkswagen AG, Stellantis NV and Ford Motor Co. — all subsidized by governments — as key to its economic vision.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Trudeau Cabinet to Meet as More Canadians Blame Government for InflationPrime Minister Justin Trudeau is set to huddle with his new cabinet on how to address the soaring cost of living, a growing vulnerability for his government as more Canadians blame it for their rising bills.
Lire la suite »
Trudeau to meet with cabinet as more Canadians blame government for inflationThe soaring cost of living is a growing vulnerability for Justin Trudeau\u0027s government as more Canadians blame it for rising bills. Read on.
Lire la suite »
Is six more years for Justin Trudeau really the Liberal plan?How many Canadians outside Liberal ranks can see Justin Trudeau in power for six more years?
Lire la suite »
| Does Trudeau's cabinet shuffle really change anything?Polling indicates most Canadians feel its time for a change of government in Ottawa. Wednesday's cabinet shuffle offered change beyond the cosmetic — but no indication that Justin Trudeau feels the need to alter course.
Lire la suite »
Housing crisis to take centre stage at Liberal retreat with new cabinetJustin Trudeau will deliver a new mission for his cabinet at a three-day retreat in Charlottetown this week, with a focus on housing affordability and younger Canadians.
Lire la suite »
Five things to watch for in the Canadian business world in the coming weekTORONTO — Five things to watch for in the Canadian business world in the coming week: Cabinet retreat Prime Minister Justin Trudeau will hold a cabinet retreat in Charlottetown starting on Monday.
Lire la suite »